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REGISTERED NUMBER:
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D.G. PINK DEVELOPMENTS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
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REGISTERED NUMBER:
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D.G. PINK DEVELOPMENTS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
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D.G. PINK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00817430) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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D.G. PINK DEVELOPMENTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SOLICITORS: |
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The Old House, |
West Street |
Marlow, |
Buckinghamshire. |
SL7 2LX |
D.G. PINK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00817430) |
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BALANCE SHEET |
31 MAY 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Investments | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
D.G. PINK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00817430) |
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BALANCE SHEET - continued |
31 MAY 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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D.G. PINK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00817430) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
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1. | STATUTORY INFORMATION |
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D.G. Pink Developments Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These financial statements for the year ended 31 May 2017 are the first financial statements that |
comply with Section 1A "Small Entities" of Financial Reporting Standard 102. The company |
transitioned from previously extant UK GAAP to FRS 102 as at 1 June 2015. An explanation of how |
transition to FRS 102 Section 1A "Small Entities" has affected the reported financial position and |
financial performance is given in note 16. |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Freehold and leasehold investment property is carried in the Balance Sheet at open market value. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
changes in fair value is recognised in profit or loss. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income |
Statement, except to the extent that it relates to items recognised in other comprehensive income or |
directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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D.G. PINK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00817430) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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 year end and that |
are expected to apply to the reversal of the timing difference. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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Going concern |
The accounts are prepared on a going concern basis. The use of the going concern basis of |
accounting is appropriate because there are no material uncertainties related to events or conditions |
that may cast significant doubt about the ability of the company to continue as a going concern. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2016 |
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Additions |
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At 31 May 2017 |
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DEPRECIATION |
At 1 June 2016 |
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Charge for year |
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At 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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At 31 May 2016 |
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D.G. PINK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00817430) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2016 |
and 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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At 31 May 2016 |
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Fair value at 31 May 2017 is represented by: |
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£ |
Valuation in 1985 | 185,380 |
Valuation in 1999 | 56,822 |
Valuation in 2006 | 250,000 |
Valuation in 2007 | 150,000 |
Valuation in 2010 | 62,733 |
Valuation in 2016 | 75,000 |
Cost | 195,065 |
975,000 |
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The above valuations were carried out by the directors. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts receivable in respect of hire
purchase contracts |
4,583 |
8,250 |
Other debtors - pension fund |
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Prepayments |
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7. | CURRENT ASSET INVESTMENTS |
2017 | 2016 |
£ | £ |
Unlisted investments | 7,675 | 7,675 |
D.G. PINK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00817430) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Net wages control | 200 | 200 |
Tax |
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Social security and other taxes |
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VAT | 3,908 | 5,060 |
Other creditors |
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Directors' current accounts | 25,904 | 27,872 |
Accrued expenses |
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9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 June 2016 |
and 31 May 2017 |
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10. | OTHER FINANCIAL COMMITMENTS |
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The company has future lease commitments in respect of its premises at a current rate of £22,000 |
per annum (subject to future review) until August 2019. |
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11. | RELATED PARTY DISCLOSURES |
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At 31 May 2017, the company owed £10,297 (2016 £10,297) to Mr. D. G. Pink, £10,400 (2016 |
£10,400) to Mrs. S. A. Pink, £809 (2016 £7,175) to Mr. T. M. Pink and £4,398 (2016 £nil) to Mr. N. D. |
Pink, directors and shareholders of the company. |
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Dividends of £nil (2016 £20,000) were paid to the directors and their associate. |
Directors and their associate were as follow: |
Mr. D. G. Pink |
Mrs. S. A. Pink |
Mr. T. M. Pink |
Mr. N. D. Pink |
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12. | CONTROL |
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The company is managed and controlled by Mr.D.G.Pink, Mrs.S.A.Pink & Mr.T.M.Pink directors and |
shareholders, and Mr.N.D.Pink shareholder. |
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13. | EXCEPTIONAL ITEM |
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This relates to Pension Scheme Administration fees, now treated as an expense allowable for |
business purposes, but which had been accumulated in prior years and included in other debtors. |
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14. | FIRST YEAR ADOPTION |
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The company has adopted FRS 102 for the first time in the year ended 31 May 2017. The policies |
applied under the entity's previous accounting framework are not materially different to FRS 102 and |
have not impacted on the comparative period figures. |