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Registration number: 00879307

Site Developments
(Ferndown) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

FRS 102 1A

 

Site Developments (Ferndown) Limited

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Site Developments (Ferndown) Limited

Company Information

Directors

Mr AN Wilkes

Mr MB Wilkes

Mrs VA Wilkes

Mr K Burridge

Registered office

Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

Solicitors

Coles Miller Solicitors LLP
44-46 Parkstone Road
Poole
Dorset
BH15 2PG

Accountants

Kennedy Legg
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

 

Site Developments (Ferndown) Limited

Directors' Report for the Year Ended 31 December 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr AN Wilkes

Mr MB Wilkes

Mrs VA Wilkes

Mr K Burridge

Principal activity

The principal activity of the company is the development and sale of property for industrial and residential use.

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 and authorised by the Board on 25 July 2024 and signed on its behalf by:
 

.........................................
Mr K Burridge
Director

 

Site Developments (Ferndown) Limited

(Registration number: 00879307)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

15,000

15,000

Current assets

 

Stocks

5

25,560

25,560

Debtors

6

6,604,304

6,589,043

Cash at bank and in hand

 

32,446

37,398

 

6,662,310

6,652,001

Creditors: Amounts falling due within one year

7

(5,051,874)

(5,054,574)

Net current assets

 

1,610,436

1,597,427

Net assets

 

1,625,436

1,612,427

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,625,336

1,612,327

Shareholders' funds

 

1,625,436

1,612,427

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Site Developments (Ferndown) Limited

(Registration number: 00879307)
Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 25 July 2024 and signed on its behalf by:
 

.........................................
Mr K Burridge
Director

 

Site Developments (Ferndown) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

The principal place of business is:
14 Balena Close
Creekmoor
Poole
Dorset
BH17 7DB

These financial statements were authorised for issue by the Board on 25 July 2024.

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Site Developments (Ferndown) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 4).

4

Investments

2023
£

2022
£

Investments in associates

15,000

15,000

 

Site Developments (Ferndown) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Stocks

2023
£

2022
£

Other inventories

25,560

25,560

6

Debtors

Current

2023
£

2022
£

Other debtors

6,604,304

6,589,043

 

6,604,304

6,589,043

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

33,393

36,093

Other creditors

5,018,481

5,018,481

5,051,874

5,054,574

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Site Developments (Ferndown) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

At 31 December 2023
£

Mr C R Burridge

Loan to company

2,409,757

2,409,757

Mr AN Wilkes

Loan to company

1,250,831

1,250,831

Mr MB Wilkes

Loan to company

1,250,191

1,250,191

Mrs VA Wilkes

Loan to company

640

640

2022

At 1 January 2022
£

At 31 December 2022
£

Mr C R Burridge

Loan to company

2,409,757

2,409,757

Mr AN Wilkes

Loan to company

1,250,831

1,250,831

Mr MB Wilkes

Loan to company

1,250,191

1,250,191

Mrs VA Wilkes

Loan to company

640

640