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Registration number: 10108836

Freemantle Developments (Homefield) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

C V Ross & Co Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Freemantle Developments (Homefield) Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 5

 

Freemantle Developments (Homefield) Limited

Company Information

Director

Mr N J Warfield

Registered office

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

C V Ross & Co Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Freemantle Developments (Homefield) Limited

Director's Report for the Year Ended 31 March 2018

The director presents his report and the financial statements for the year ended 31 March 2018.

Director of the company

The director who held office during the year was as follows:

Mr N J Warfield

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 23 August 2018 and signed on its behalf by:

.........................................
Mr N J Warfield
Director

 

Freemantle Developments (Homefield) Limited

(Registration number: 10108836)
Balance Sheet as at 31 March 2018

Note

2018
£

2017
£

Current assets

 

Stocks

2

75,081

33,038

Debtors

3

11,193

4,107

Cash at bank and in hand

 

197

8,771

 

86,471

45,916

Creditors: Amounts falling due within one year

4

(89,085)

(47,241)

Net liabilities

 

(2,614)

(1,325)

Capital and reserves

 

Called up share capital

20

20

Profit and loss account

(2,634)

(1,345)

Total equity

 

(2,614)

(1,325)

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 23 August 2018
 

.........................................

Mr N J Warfield

Director

 

Freemantle Developments (Homefield) Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2

Stocks

2018
£

2017
£

Work in progress

75,081

33,038

3

Debtors

2018
£

2017
£

Other debtors

11,193

4,107

11,193

4,107

 

Freemantle Developments (Homefield) Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

4

Creditors

Creditors: amounts falling due within one year

Note

2018
£

2017
£

Due within one year

 

Trade creditors

 

-

3,460

Amounts owed to group undertakings and undertakings in which the company has a participating interest

5

88,360

-

Accruals and deferred income

 

725

800

Other creditors

 

-

42,981

 

89,085

47,241

5

Related party transactions

Loans from related parties

2018

Parent
£

Advanced

88,360

Terms of loans from related parties

The loan facility is interest free and repayable on demand.
 

6

Parent and ultimate parent undertaking

Freemantle Capital Limited acquired full ownership of the issued share capital during the year ended 31 March 2018.

 The company's immediate parent is Freemantle Capital Limited, incorporated in England & Wales.

 The ultimate controlling party is Mr N & Mrs V Warfield by virtue of their shareholding in Freemantle Capital Limited.