Company Registration No. 08034994 (England and Wales)
ASTINDALE SELSDON LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 OCTOBER 2018
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
ASTINDALE SELSDON LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ASTINDALE SELSDON LIMITED
Company Registration No. 08034994
BALANCE SHEET
AS AT
31 OCTOBER 2018
31 October 2018
- 1 -
2018
2017
Notes
£
£
£
£
Current assets
Debtors
2
124,471
274,007
Cash at bank and in hand
7,470
33,198
131,941
307,205
Creditors: amounts falling due within one year
3
(138,726)
(284,782)
Net current (liabilities)/assets
(6,785)
22,423
Capital and reserves
Called up share capital
4
100
100
Profit and loss reserves
(6,885)
22,323
Total equity
(6,785)
22,423
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 July 2019 and are signed on its behalf by:
N A Latter
Director
ASTINDALE SELSDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2018
- 2 -
1
Accounting policies
Company information
Astindale Selsdon Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Old Rectory, Church Street, Weybridge, Surrey, KT13 8DE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention
.
The principal accounting policies adopted are set out below.
1.2
Going concern
At the balance sheet date the company had net liabilities of £6,785. The directors have confirmed that they will continue to support the company for the foreseeable future and are confident about the company's ability to trade as a going concern and meet its financial obligations. Therefore, the accounts have been prepared on the going concern basis.
1.3
Reporting period
The company’s year end has been
extended
from 3
0 April
201
8
to
30 October 2018
so this accounting period is for 1
8
months. Therefore the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable
1.4
Turnover
Turnover represents amounts receivable from the sale of properties built by the company. Income is recognised when contractual obligation arises from the sale of a property. The expenditure incurred in relation to property development is included within the accounts as stock, based on the directors opinion of recoverable amounts on contracts.
Income is recognised in the period in which the service was supplied.
1.5
Cash at bank and in hand
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
ASTINDALE SELSDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2018
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
2,399
6,977
Other debtors
122,072
267,030
124,471
274,007
3
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
1,006
8,377
Taxation and social security
134,528
272,253
Other creditors
3,192
4,152
138,726
284,782
4
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and not fully paid
50 Ordinary A shares of £1 each
50
50
50 Ordinary B shares of £1 each
50
50
100
100
ASTINDALE SELSDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2018
- 4 -
5
Related party transactions
At the balance sheet date the company was owed £
115,901
(201
7
- £
126,038
) by S J Tenzin Limited, one of the controlling parties.
At the balance sheet date the company was owed £
Nil
(201
7
- £
7,000
) by Astindale Canterbury Limited, a connected company.