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Unaudited Financial Statements |
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for the year ended |
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31 January 2022 |
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for |
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Appledorn Developments Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the year ended |
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31 January 2022 |
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for |
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Appledorn Developments Limited |
Appledorn Developments Limited (Registered number: 07134409) |
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Contents of the Financial Statements |
for the year ended 31 January 2022 |
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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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Appledorn Developments Limited |
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Company Information |
for the year ended 31 January 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Oak Tree House, Harwood Road |
Northminster Business Park |
Upper Poppleton |
York |
YO26 6QU |
Appledorn Developments Limited (Registered number: 07134409) |
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Balance Sheet |
31 January 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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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 ASSETS/(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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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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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. |
Appledorn Developments Limited (Registered number: 07134409) |
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Balance Sheet - continued |
31 January 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Appledorn Developments Limited (Registered number: 07134409) |
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Notes to the Financial Statements |
for the year ended 31 January 2022 |
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1. | STATUTORY INFORMATION |
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Appledorn Developments Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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There were no material departures from that standard. |
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The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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Income Recognition |
Income is recognised when the conditions contained within a contract for services have been met. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Office equipment | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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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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Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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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Appledorn Developments Limited (Registered number: 07134409) |
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Notes to the Financial Statements - continued |
for the year ended 31 January 2022 |
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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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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. |
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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 |
Improvements |
to | Plant and | Motor | Office |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 February 2021 |
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Additions |
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At 31 January 2022 |
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DEPRECIATION |
At 1 February 2021 |
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Charge for year |
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At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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Appledorn Developments Limited (Registered number: 07134409) |
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Notes to the Financial Statements - continued |
for the year ended 31 January 2022 |
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4. | TANGIBLE FIXED ASSETS - continued |
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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 February 2021 |
and 31 January 2022 |
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DEPRECIATION |
At 1 February 2021 |
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Charge for year |
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At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other loans | 293,564 | 237,689 |
Hire purchase contracts |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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Directors' current accounts | 49,539 | 55,304 |
Accruals and deferred income |
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Appledorn Developments Limited (Registered number: 07134409) |
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Notes to the Financial Statements - continued |
for the year ended 31 January 2022 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2022 | 2021 |
£ | £ |
Other loans - 1-2 years | 158,751 | 108,660 |
Other loans - 2-5 years |
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Other loans more 5yrs instal | - | 23,033 |
Hire purchase contracts |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Other loans more 5yrs instal | - | 23,033 |
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The CBIL's loan of £250,000 included within other loans is repayable over 6 years, with no repayment due for the first year, at an interest rate of 2.5% commencing after 1 year. The loan is due to mature in July 2026. |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2022 | 2021 |
£ | £ |
Hire purchase contracts | 49,704 | 119,435 |
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The above loans are secured against the assets to which they relate. |
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The company has three loans. |
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A first loan of £110,000 is repayable over 5 years at a rate of 19.80% per annum. The loan is due to mature on 18.9.2024. |
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A further loan of £106,000 is repayable over 37 months at a rate of 13.17% per annum. The loan is due to mature on 01.3.2024. |
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A further loan of £154,500 is repayable over 18 months at a rate of 17.48% per annum. The loan is due to mature on 01.3.2024. |
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The loans are secured/guaranteed by fixed and floating charge over the company and all property and assets. |
Appledorn Developments Limited (Registered number: 07134409) |
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Notes to the Financial Statements - continued |
for the year ended 31 January 2022 |
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9. | CALLED UP SHARE CAPITAL |
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Alloted, issued and fully paid |
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Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
52 | 'A' Ordinary | £1 | 52 | 52 |
48 | 'B' Ordinary | £1 | 48 | 48 |
10 | 'E' Ordinary | £1 | 10 | 10 |
110 | 110 |