First Place Developments Limited 13498044 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is buying, developing and selling of own real estate Digita Accounts Production Advanced 6.30.9574.0 true true 13498044 2022-03-01 2023-02-28 13498044 2023-02-28 13498044 core:RetainedEarningsAccumulatedLosses 2023-02-28 13498044 core:ShareCapital 2023-02-28 13498044 core:CurrentFinancialInstruments 2023-02-28 13498044 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13498044 bus:SmallEntities 2022-03-01 2023-02-28 13498044 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 13498044 bus:FullAccounts 2022-03-01 2023-02-28 13498044 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 13498044 bus:RegisteredOffice 2022-03-01 2023-02-28 13498044 bus:CompanySecretary1 2022-03-01 2023-02-28 13498044 bus:Director1 2022-03-01 2023-02-28 13498044 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13498044 core:ParentEntities 2022-03-01 2023-02-28 13498044 countries:EnglandWales 2022-03-01 2023-02-28 13498044 2021-07-07 2022-02-28 13498044 2022-02-28 13498044 core:RetainedEarningsAccumulatedLosses 2022-02-28 13498044 core:ShareCapital 2022-02-28 13498044 core:CurrentFinancialInstruments 2022-02-28 13498044 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 13498044

First Place Developments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

First Place Developments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

First Place Developments Limited

Company Information

Director

Mrs JE Harris

Company secretary

Mr N Malde

Registered office

Centurion House
Watling Street
Radlett
WD7 7GB

Accountants

Affinity Associates (Flemmings) Limited
(Trading as Flemmings)
Chartered Accountants
76 Canterbury Road
Croydon
Surrey
CR0 3HA

 

First Place Developments Limited

(Registration number: 13498044)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

146,336

88,414

Debtors

5

930

40,304

Cash at bank and in hand

 

782

4,931

 

148,048

133,649

Creditors: Amounts falling due within one year

6

(152,556)

(136,305)

Net liabilities

 

(4,508)

(2,656)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(4,509)

(2,657)

Total equity

 

(4,508)

(2,656)

For the financial year ending 28 February 2023 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 her 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 November 2023
 

.........................................
Mrs JE Harris
Director

 

First Place Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Centurion House
Watling Street
Radlett
WD7 7GB
England

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements are presented in Pound Sterling, which is the functional currency of the company.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

The validity of this assumption depends on the continued support from the company's parent company. The financial statements do not include any adjustments that would result in such financial support were withdrawn.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change
attributable to an item of income or expense recognised as other comprehensive income is also recognised
directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and
their carrying amounts in the financial statements and on unused tax losses or tax credits in the company.
Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the
reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

First Place Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes the site cost, direct materials and where applicable direct labour, legal and professional fees and those overheads that have been incurred during development prior to sale.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Stocks

2023
£

2022
£

Work in progress

146,336

88,414

5

Debtors

2023
£

2022
£

Prepayments

-

36,254

Other debtors

930

4,050

930

40,304

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,799

50,845

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

7

149,007

83,960

Accruals and deferred income

 

1,750

1,500

 

152,556

136,305

 

First Place Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7

Related party transactions

Summary of transactions with parent

First Place Nurseries Limited
(Parent undertaking of First Place Developments Limited)

 At the balance sheet date, the amount due to First Place Nurseries Limited was £149,007 (2022: £83,960). This amount is interest-free and repayable on demand.