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REGISTERED NUMBER:
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TONY SNAREY DEVELOPMENTS AND |
CONSTRUCTION LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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REGISTERED NUMBER:
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TONY SNAREY DEVELOPMENTS AND |
CONSTRUCTION LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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TONY SNAREY DEVELOPMENTS AND |
CONSTRUCTION LIMITED (REGISTERED NUMBER: 02732583) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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TONY SNAREY DEVELOPMENTS AND |
CONSTRUCTION LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 December 2016 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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3 Castlegate |
Grantham |
Lincolnshire |
NG31 6SF |
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BANKERS: |
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88 Westgate |
Grantham |
Lincolnshire |
NG31 6LF |
TONY SNAREY DEVELOPMENTS AND |
CONSTRUCTION LIMITED (REGISTERED NUMBER: 02732583) |
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BALANCE SHEET |
31 December 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
TONY SNAREY DEVELOPMENTS AND |
CONSTRUCTION LIMITED (REGISTERED NUMBER: 02732583) |
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BALANCE SHEET - continued |
31 December 2016 |
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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 director on
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TONY SNAREY DEVELOPMENTS AND |
CONSTRUCTION LIMITED (REGISTERED NUMBER: 02732583) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Tony Snarey Developments and Construction Limited is a
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England and 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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Turnover |
In accordance with the principles of revenue recognition as stated in FRS102 Section 23, turnover is recognised |
when the company obtains the right to consideration. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the balance sheet, 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 that have been |
enacted or substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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 yearyear 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. |
TONY SNAREY DEVELOPMENTS AND |
CONSTRUCTION LIMITED (REGISTERED NUMBER: 02732583) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2016 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. |
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Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at |
transaction price, unless the arrangement constitutes a financing transaction, where the transaction is |
measured at the present value of the future receipts discounted at a market rate of interest. |
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At the end of each reporting period financial assets measured at amortised cost are assessed for objective |
evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying |
amount and the present value of the estimated cash flows discounted at the asset's original effective interest |
rate. The impairment loss is recognised in profit or loss. |
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Other financial assets, including investments in equity instruments which are not subsidiaries, associates or |
joint ventures, are initially measured at fair value, which is normally the transaction price. |
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Such assets are subsequently carried at fair value and the changes in fair value are recognised in the income |
statement, except that investments in equity instruments that are not publically traded and whose fair values |
cannot be measured reliably are measured at cost less impairment. |
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Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are |
settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another |
party or (c) control of the asset has been transferred to another party who has the practical ability to |
unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
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Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies |
and preference shares that are classified as debt, are initially recognised at transaction price, unless the |
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value |
of the future receipts discounted at a market rate of interest. |
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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 |
machinery |
etc |
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COST |
At 1 January 2016 |
and 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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TONY SNAREY DEVELOPMENTS AND |
CONSTRUCTION LIMITED (REGISTERED NUMBER: 02732583) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2016 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2016 |
and 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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Cost or valuation at 31 December 2016 is represented by: |
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£ |
Valuation in 2016 | 1,000,000 |
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The investment property fair value was determined by using current market prices for comparable property, |
adjusted for any differences in nature, location and condition. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Payments on account | 5,468 | - |
Other debtors |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
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Taxation |
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Other taxes and social security |
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VAT | 11,157 | 11,070 |
Other creditors |
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Directors' current accounts | 81,644 | 66,644 |
Accruals and deferred income |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2016 | 2015 |
£ | £ |
Directors' loan accounts | 1,030,000 | 1,080,000 |
TONY SNAREY DEVELOPMENTS AND |
CONSTRUCTION LIMITED (REGISTERED NUMBER: 02732583) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2016 |
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9. | RELATED PARTY DISCLOSURES |
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At the year end £1,111,644 (2015 - £1,146,644) was due to the directors. The loan is an interest free loan. |
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10. | GOING CONCERN |
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The company's net profit after taxation was £36,594 during the year (2015 - £35,243). |
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At the balance sheet date the company had net current liabilities of £80,939 (2015 - £68,127) and net liabilities |
of £109,165 (2015 - £145,759). |
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The company meets its day to day working capital requirements from a loan from the director. The director |
will continue to provide additional support to the company as required and is confident that the company will |
continue to be profitable. |
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For the above reasons, the director believes it is appropriate to prepare the financial statements on the going |
concern basis. |
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11. | FIRST YEAR ADOPTION |
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There were no adjustments required on transition to FRS 102. |