REGISTERED NUMBER: |
CHELTENHAM DESIGN AND DEVELOPMENT |
LIMITED |
Unaudited Financial Statements |
for the period |
1 August 2022 to 31 March 2023 |
REGISTERED NUMBER: |
CHELTENHAM DESIGN AND DEVELOPMENT |
LIMITED |
Unaudited Financial Statements |
for the period |
1 August 2022 to 31 March 2023 |
CHELTENHAM DESIGN AND DEVELOPMENT |
LIMITED (REGISTERED NUMBER: 04929552) |
Contents of the Financial Statements |
for the period 1 August 2022 to 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CHELTENHAM DESIGN AND DEVELOPMENT |
LIMITED |
Company Information |
for the period 1 August 2022 to 31 March 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SOLICITORS: |
267 - 269 High Street |
Erdington |
Birmingham |
B23 6SR |
CHELTENHAM DESIGN AND DEVELOPMENT |
LIMITED (REGISTERED NUMBER: 04929552) |
Balance Sheet |
31 March 2023 |
31/3/23 | 31/7/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
CHELTENHAM DESIGN AND DEVELOPMENT |
LIMITED (REGISTERED NUMBER: 04929552) |
Notes to the Financial Statements |
for the period 1 August 2022 to 31 March 2023 |
1. | STATUTORY INFORMATION |
Cheltenham Design and Development Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
The Director is required to make significant judgements on the UK property market and in particular the optimum time to sell or acquire property. Estimates are made on an annual basis concerning the realisable value of property with reference to the external market conditions at the time and using the Director's experience. |
Turnover |
Turnover is derived entirely from the company's principal activity. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Stock of properties are included at their original purchase price plus all associated costs and development expenses at the balance sheet date. Provision is made for any anticipated or known loss so as to state the properties at the lower of cost or net realisable value. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2022 - NIL). |
CHELTENHAM DESIGN AND DEVELOPMENT |
LIMITED (REGISTERED NUMBER: 04929552) |
Notes to the Financial Statements - continued |
for the period 1 August 2022 to 31 March 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2022 |
and 31 March 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for period |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 July 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/23 | 31/7/22 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/23 | 31/7/22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
Bank loans in respect of properties are interest only loans with no set date for repayment as this is dependant upon the ultimate sale of the properties in stock. As the company intends to resell its properties as soon as profits are potentially available, the director considers that such loans should be shown as amounts due within one |
Included in other creditors is a director's loan account which has been reclassified as a current liability as it is not subject to any formal loan agreement and therefore is to be accounted for as though it was repayable on demand. There is no set repayment date for the loan or interest charged on it. |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
31/3/23 | 31/7/22 |
£ | £ |
Bank loans |