Company Registration No. 06138667 (England and Wales)
2020 PROPERTY DEVELOPMENTS LIMITED
Unaudited accounts
for the period from 1 October 2019 to 31 December 2020
2020 PROPERTY DEVELOPMENTS LIMITED
Unaudited accounts
Contents
2020 PROPERTY DEVELOPMENTS LIMITED
Company Information
for the period from 1 October 2019 to 31 December 2020
Director
Shahid Rashid Khan
Company Number
06138667 (England and Wales)
Registered Office
OAKLEIGH TAMWORTH ROAD
KERESLEY END
COVENTRY
CV7 8JJ
UNITED KINGDOM
Accountants
Ratiobox Limited
17-19 Sawmills Road
Diss
IP22 4GG
2020 PROPERTY DEVELOPMENTS LIMITED
Statement of financial position
as at
31 December 2020
Investment property
362,689
Cash at bank and in hand
12,316
Creditors: amounts falling due within one year
(51,753)
Net current liabilities
(39,437)
Total assets less current liabilities
323,252
Creditors: amounts falling due after more than one year
(916,892)
Provisions for liabilities
Net liabilities
(598,243)
Called up share capital
400,000
Revaluation reserve
16,287
Profit and loss account
(1,014,530)
Shareholders' funds
(598,243)
For the period ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2021 and were signed on its behalf by
Shahid Rashid Khan
Director
Company Registration No. 06138667
2020 PROPERTY DEVELOPMENTS LIMITED
Notes to the Accounts
for the period from 1 October 2019 to 31 December 2020
2020 PROPERTY DEVELOPMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06138667. The registered office is OAKLEIGH TAMWORTH ROAD, KERESLEY END, COVENTRY, CV7 8JJ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on reducing balance
Computer equipment
33% on cost
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
2020 PROPERTY DEVELOPMENTS LIMITED
Notes to the Accounts
for the period from 1 October 2019 to 31 December 2020
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2019
4,272
62,617
9,553
76,442
Disposals
-
(62,617)
-
(62,617)
At 31 December 2020
4,272
-
9,553
13,825
At 1 October 2019
-
42,665
9,553
52,218
On disposals
4,272
(42,665)
-
(38,393)
At 31 December 2020
4,272
-
9,553
13,825
At 31 December 2020
-
-
-
-
5
Investment property
2020
Fair value at 1 October 2019
700,453
At 31 December 2020
362,689
Investment property was valued on an open market basis on 30 September 2019 by a director.
6
Creditors: amounts falling due within one year
2020
7
Creditors: amounts falling due after more than one year
2020
8
Average number of employees
During the period the average number of employees was 1.