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REGISTERED NUMBER:
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SNEINTON MARKET DEVELOPMENTS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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REGISTERED NUMBER:
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SNEINTON MARKET DEVELOPMENTS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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SNEINTON MARKET DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04144309) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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SNEINTON MARKET DEVELOPMENTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 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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SNEINTON MARKET DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04144309) |
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BALANCE SHEET |
30 NOVEMBER 2017 |
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2017 | 2016 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
( |
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( |
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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 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. |
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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
behalf by: |
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SNEINTON MARKET DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04144309) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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1. | STATUTORY INFORMATION |
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Sneinton Market Developments Limited is a
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and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small |
Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK |
and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared |
under the historical cost convention. |
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These financial statements for the year ended 30 November 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 December 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 the notes. |
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FRS 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial |
statements, as permitted by FRS 102 including Section 1A: |
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- | the requirements of Section 7 Statement of Cash Flows; and |
- the requirements of Section 33 Related Party Disclosures paragraph 33.7. |
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Significant judgements and estimates |
The preparation of financial statements requires management to make judgements, estimates and |
assumptions about the carrying values of assets and liabilities that are not readily apparent from other |
sources. The estimates and underlying assumptions are based on historical experience and other |
factors that are considered to be relevant. Actual results may differ from these estimates. |
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The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to |
accounting estimates are recognised in the period in which the estimate is revised if the revision |
affects only that period, or in the period of the revision and future periods if the revision affects both |
current and future periods. |
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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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SNEINTON MARKET DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04144309) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 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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Going concern |
In accordance with their responsibilities as directors, the directors have considered the |
appropriateness of the going concern basis for the preparation of the financial statements. |
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The company's balance sheet shows net liabilities at 30 November 2017 and in these circumstances |
the company's activities are supported by its creditors. |
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The directors have therefore assessed that a material uncertainty exists that casts doubt upon the |
company's ability to continue as a going concern and that therefore the company may be unable to |
realise its assets and discharge its liabilities in the normal course of business. The directors however |
believe that company remains a going concern whilst the company continues to have the support of its |
creditors. |
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Debtors |
Trade and other debtors are measured at transaction price less any impairment unless the |
arrangement constitutes a financing transaction in which case the transaction is measured at the |
present value of the future receipts discounted at the prevailing market rate of interest . Loans are |
initially measured at fair value and are subsequently measured at amortised cost using the effective |
interest method less any impairment. |
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Creditors |
Trade and other creditors are measured at their transaction price unless the arrangement constitutes a |
financing transaction in which case the transaction is measured at present value of future payments |
discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair |
value net of their transaction costs. They are subsequently measured at amortised cost using the |
effective interest method. |
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Cash at bank |
Cash at bank in the balance sheet comprise cash at banks and in hand and short term deposits with |
an original maturity date of three months or less. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL. |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed by group companies |
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SNEINTON MARKET DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04144309) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Amounts owed to group companies |
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Other creditors |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
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