SUNDANCE VILLAS LIMITED
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Notes to the Accounts |
for the year ended 31 March 2018
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Turnover |
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Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
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Depreciaton |
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Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
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Fixtures, fittings & Equipment |
20% reducing balance |
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Foreign currency translation |
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Transactions in foreign currencies are recorded at the rate of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit & loss account.
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2 |
Operating profit (loss) |
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2018 |
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2017 |
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This is stated after charging |
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£ |
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£ |
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Depreciation of tangible fixed assets |
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900 |
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1100 |
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3 |
Taxation |
2018 |
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2017 |
£ |
£ |
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UK Corporation tax |
- |
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- |
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(Over) Under Provision in Prior Year |
- |
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- |
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- |
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- |
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4 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 April 2017 |
16,796 |
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At 31 March 2018 |
16,796 |
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Depreciation |
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At 1 April 2017 |
12,296 |
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Charge for the year |
900 |
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At 31 March 2018 |
13,196 |
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Net book value |
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At 31 March 2018 |
3,600 |
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At 31 March 2017 |
4,500 |
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5 |
Creditors: amounts falling due within one year |
2018 |
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2017 |
£ |
£ |
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Directors Account |
8,000 |
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- |
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Trade creditors |
259,300 |
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276,022 |
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Other creditors |
4,000 |
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4,000 |
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271,300 |
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280,022 |
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