Caseware UK (AP4) 2016.0.181 2016.0.181 2018-04-302018-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueProperty developmentfalse2017-05-01 08482734 2017-05-01 2018-04-30 08482734 2016-05-01 2017-04-30 08482734 2018-04-30 08482734 2017-04-30 08482734 c:Director1 2017-05-01 2018-04-30 08482734 d:CurrentFinancialInstruments 2018-04-30 08482734 d:CurrentFinancialInstruments 2017-04-30 08482734 d:CurrentFinancialInstruments d:WithinOneYear 2018-04-30 08482734 d:CurrentFinancialInstruments d:WithinOneYear 2017-04-30 08482734 d:ShareCapital 2018-04-30 08482734 d:ShareCapital 2017-04-30 08482734 d:SharePremium 2018-04-30 08482734 d:SharePremium 2017-04-30 08482734 d:RetainedEarningsAccumulatedLosses 2018-04-30 08482734 d:RetainedEarningsAccumulatedLosses 2017-04-30 08482734 c:FRS102 2017-05-01 2018-04-30 08482734 c:AuditExempt-NoAccountantsReport 2017-05-01 2018-04-30 08482734 c:FullAccounts 2017-05-01 2018-04-30 08482734 c:PrivateLimitedCompanyLtd 2017-05-01 2018-04-30 iso4217:GBP xbrli:pure











UKRD (EXMOUTH TWO) LIMITED

DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS
PAGES FOR FILING WITH REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2018

Company Registration No. 08482734 (England and Wales)




UKRD (EXMOUTH TWO) LIMITED

CONTENTS



Page
Balance Sheet
 
 
1
Notes to the Financial Statements
 
 
2 - 4



UKRD (EXMOUTH TWO) LIMITED

REGISTERED NUMBER:08482734

BALANCE SHEET
AS AT 30 APRIL 2018

2018
2017
Note
£
£

Current assets
  

Stocks
 4 
265,000
1,040,908

Debtors: amounts falling due within one year
 5 
4,230
-

Cash at bank and in hand
 6 
1,272
7,167

  
270,502
1,048,075

Creditors: amounts falling due within one year
 7 
(1,364,513)
(1,730,210)

Net current liabilities
  
 
 
(1,094,011)
 
 
(682,135)

Net liabilities
  
(1,094,011)
(682,135)


Capital and reserves
  

Called up share capital 
 8 
350
350

Share premium account
  
349,650
349,650

Profit and loss account
  
(1,444,011)
(1,032,135)

Total shareholders' deficit
  
(1,094,011)
(682,135)


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr C Vane-Tempest
Director

Date: 6 November 2018

The notes on pages 2 to 4 form part of these financial statements.


- 1 -



UKRD (EXMOUTH TWO) LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018

1.


General information

UKRD (Exmouth Two) Limited is a private limited company registered and incorporated in England and Wales. The company's registered number is 08482734 and the company's registered office is 1st Floor, 7-10 Chandos Street, London, W1G 9DQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

 
2.4

Borrowing costs

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress relates to property development stock.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


- 2 -



UKRD (EXMOUTH TWO) LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018

2.Accounting policies (continued)

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2017 - 1).


4.


Stocks

2018
2017
£
£

Work in progress
265,000
1,040,908



- 3 -



UKRD (EXMOUTH TWO) LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018

5.


Debtors

2018
2017
£
£

Other debtors
4,230
-



6.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
1,272
7,167


Cash at bank and in hand is measured at fair value, which is calculated as amounts held on deposit at banks employed by the compnay less any impairments. No impairments to cash balances have been made in these accounts as all cash deposits are held at credible financial insitiutions.


7.


Creditors: Amounts falling due within one year

2018
2017
£
£

Bank loans
1,295,520
1,668,065

Trade creditors
23,493
15,645

Other creditors
42,500
43,500

Accruals and deferred income
3,000
3,000

1,364,513
1,730,210


Included within creditors due within one year are secured amounts totalling £1,295,520 (2017: £1.668,065).


8.


Share capital

2018
2017
£
£
Allotted, called up and fully paid



350 (2017 - 350) Ordinary shares of £1.00 each
350
350


 

- 4 -