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Registered number: 12272469
Start Bay Developments Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Xeinadin South Wales & West Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12272469
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 624,364 630,818
624,364 630,818
CURRENT ASSETS
Stocks 5 709,968 351,440
Debtors 6 34,562 1,530
Cash at bank and in hand 1,619 90,678
746,149 443,648
Creditors: Amounts Falling Due Within One Year 7 (1,194,956 ) (989,922 )
NET CURRENT ASSETS (LIABILITIES) (448,807 ) (546,274 )
TOTAL ASSETS LESS CURRENT LIABILITIES 175,557 84,544
Creditors: Amounts Falling Due After More Than One Year 8 (492,089 ) (308,026 )
NET LIABILITIES (316,532 ) (223,482 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (316,534 ) (223,484 )
SHAREHOLDERS' FUNDS (316,532) (223,482)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Stephen Jones
Director
08/07/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Start Bay Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12272469 . The registered office is Celtic House, Caxton Place, Pentwyn, Cardiff, CF23 8HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation
Plant & Machinery 25% Reducing balance
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was : 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 April 2023 605,000 30,800 635,800
As at 31 March 2024 605,000 30,800 635,800
Depreciation
As at 1 April 2023 - 4,982 4,982
Provided during the period - 6,454 6,454
As at 31 March 2024 - 11,436 11,436
Net Book Value
As at 31 March 2024 605,000 19,364 624,364
As at 1 April 2023 605,000 25,818 630,818
5. Stocks
31 March 2024 31 March 2023
£ £
Work in progress 709,968 351,440
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Page 4
6. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Prepayments and accrued income 4,254 1,105
Other debtors 24,002 -
VAT 6,306 425
34,562 1,530
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Accrued expenses 1,630 2,396
Amounts owed to group undertakings 1,193,326 987,526
1,194,956 989,922
8. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Bank loans 492,089 308,026
9. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 2 2
10. Related Party Transactions
As at balance sheet date, the company owed £1,193,326 (2023: £987,526) to A J Investments (Cardiff) Limited .
As at balance sheet date, the company was owed £ 24,000 from P&RE Limited.
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr Stephen Jones & Mr Philip Elliott by virtue of their issued share capital in the company.
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