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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2019 |
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SUSSEX DRIVEWAYS (PAVING) LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2019 |
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FOR |
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SUSSEX DRIVEWAYS (PAVING) LIMITED |
SUSSEX DRIVEWAYS (PAVING) LIMITED (REGISTERED NUMBER: 03206121) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2019 |
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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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SUSSEX DRIVEWAYS (PAVING) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2019 |
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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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ACCOUNTANTS: |
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The Old Casino |
28 Fourth Avenue |
Hove |
East Sussex |
BN3 2PJ |
SUSSEX DRIVEWAYS (PAVING) LIMITED (REGISTERED NUMBER: 03206121) |
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BALANCE SHEET |
31 MAY 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Stocks | 4 |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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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 |
7 |
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( |
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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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Retained earnings |
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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. |
SUSSEX DRIVEWAYS (PAVING) LIMITED (REGISTERED NUMBER: 03206121) |
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BALANCE SHEET - continued |
31 MAY 2019 |
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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
by: |
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SUSSEX DRIVEWAYS (PAVING) LIMITED (REGISTERED NUMBER: 03206121) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2019 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These financial statements have been prepared on the basis that the company will continue to be a going |
concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value |
of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed |
assets and long term liabilities as current assets and liabilities. |
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Turnover |
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to |
consideration. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
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 items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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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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Deferred tax |
Deferred taxation is provided in full on timing differences which represent a liability at the balance sheet date, at |
rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from |
the inclusion of items of income and expenditure in taxation computations in periods different from those in |
which they are included in financial statements. Deferred tax assets and liabilities are not discounted. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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. |
SUSSEX DRIVEWAYS (PAVING) LIMITED (REGISTERED NUMBER: 03206121) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2019 |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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3. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 June 2018 |
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Additions |
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Disposals | ( |
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At 31 May 2019 |
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DEPRECIATION |
At 1 June 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 May 2019 |
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NET BOOK VALUE |
At 31 May 2019 |
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At 31 May 2018 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1 June 2018 |
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Additions |
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At 31 May 2019 |
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DEPRECIATION |
At 1 June 2018 |
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Charge for year |
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At 31 May 2019 |
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NET BOOK VALUE |
At 31 May 2019 |
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At 31 May 2018 |
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4. | STOCKS |
2019 | 2018 |
£ | £ |
Stocks |
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Work-in-progress |
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SUSSEX DRIVEWAYS (PAVING) LIMITED (REGISTERED NUMBER: 03206121) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Tax |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Tax |
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Social security and other taxes | ( |
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VAT | 28,350 | 20,656 |
Other creditors |
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Directors' current accounts | 10,751 | 5,530 |
Accrued expenses |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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During the year, Ms V T Woodley increased her loan to the company. As at 31 May 2019 ,the company owed her |
£10,751 (2018: £5,530). This balance represented the maximum amount outstanding during the year and the |
loan is interest free and repayable on demand. |
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9. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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This was by virtue of her 100% holding of the issued share capital. |
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10. | ACCOUNTING BASIS |
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As stated in the accounting policy note, these financial statements have been prepared on the basis that the |
company will continue to be a going concern. As at the year end the current liabilities exceeded current assets by |
£10,595. |
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The validity of this basis depends upon the continued support of the company's directors. The directors confirm |
that they will give the required support. |