Company Registration No. 05732509 (England and Wales)
COMBINED DEVELOPMENT PARTNERSHIPS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018
PAGES FOR FILING WITH REGISTRAR
COMBINED DEVELOPMENT PARTNERSHIPS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
COMBINED DEVELOPMENT PARTNERSHIPS LIMITED
BALANCE SHEET
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Investments
3
10
10
Current assets
Stocks
1,058,570
1,058,570
Debtors
4
22,322
37,284
Cash at bank and in hand
41,474
13,408
1,122,366
1,109,262
Creditors: amounts falling due within one year
5
(776,448)
(852,182)
Net current assets
345,918
257,080
Total assets less current liabilities
345,928
257,090
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
345,926
257,088
Total equity
345,928
257,090
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 18 January 2019 and are signed on its behalf by:
Mr E C Chantler
Director
Company Registration No. 05732509
COMBINED DEVELOPMENT PARTNERSHIPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018
- 2 -
1
Accounting policies
Company information
Combined Development Partnerships Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Nantwich Court, Hospital Street, Nantwich, Cheshire, CW5 5RH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for services and the proceeds from rents and recharged costs receivable from developments let whilst awaiting future sale, net of VAT.
1.3
Stocks
Stock is valued at the lower of cost and net realisable value.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.5
Taxation
The tax expense represents the sum of the tax currently
payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 5 (2017 - 5).
3
Fixed asset investments
2018
2017
£
£
Investments
10
10
COMBINED DEVELOPMENT PARTNERSHIPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2018
3
Fixed asset investments
(Continued)
- 3 -
The unlisted investment represents a holding of less than 20% in Navigation Park Management Company Limited.
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 June 2017 & 31 May 2018
10
Carrying amount
At 31 May 2018
10
At 31 May 2017
10
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
22,322
37,284
5
Creditors: amounts falling due within one year
2018
2017
Notes
£
£
Bank loans and overdrafts
6
730,000
806,000
Trade creditors
48
48
Other taxation and social security
28,159
23,574
Other creditors
18,241
22,560
776,448
852,182
6
Loans and overdrafts
2018
2017
£
£
Bank loans
730,000
806,000
Payable within one year
730,000
806,000
COMBINED DEVELOPMENT PARTNERSHIPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2018
6
Loans and overdrafts
(Continued)
- 4 -
The bank borrowings during the year were secured by fixed and floating charges over the company's
assets and undertakings including its freehold property known as land and buildings on the east side of
Road One, Winsford Industrial Estate, Winsford.
They are also secured by a fixed and floating charge over the assets and undertakings of Stretton
Palatine (Middlewich) Limited, a company in which the directors, Mr S Chantler and Mr N
Lamont, are
materially interested.
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and not fully paid
200 Ordinary shares of 1p each
2
2
2
2
8
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
2018
2017
£
£
Entities under the control of Mr E Chantler (director)
-
15,670
The following amounts were outstanding at the reporting end date:
2018
2017
Amounts due to related parties
£
£
Directors
921
921
Entities under common control
7
-
The following amounts were outstanding at the reporting end date:
2018
2017
Amounts due from related parties
£
£
Entities under common control
20,580
35,580