A & C PROPERTY DEVELOPMENT LIMITED

Company Registration Number:
06336231 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2017

Period of accounts

Start date: 01 September 2016

End date: 31 August 2017

A & C PROPERTY DEVELOPMENT LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2017

Balance sheet
Notes

A & C PROPERTY DEVELOPMENT LIMITED

Balance sheet

As at 31 August 2017


Notes
2017
2016


£
£
Fixed assets
Tangible assets: 3 7,129 8,797
Total fixed assets: 7,129 8,797
Current assets
Stocks: 1,130,875 1,118,788
Cash at bank and in hand: 45,439 12,819
Total current assets: 1,176,314 1,131,607
Creditors: amounts falling due within one year: 4 (1,011,268) (915,180)
Net current assets (liabilities): 165,046 216,427
Total assets less current liabilities: 172,175 225,224
Creditors: amounts falling due after more than one year:   (375,000) (375,000)
Total net assets (liabilities): (202,825) (149,776)
Capital and reserves
Called up share capital: 2 2
Profit and loss account: (202,827) (149,778)
Shareholders funds: (202,825) (149,776)

The notes form part of these financial statements

A & C PROPERTY DEVELOPMENT LIMITED

Balance sheet statements

For the year ending 31 August 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 May 2018
and signed on behalf of the board by:

Name: A Lond-Caulk
Status: Director

The notes form part of these financial statements

A & C PROPERTY DEVELOPMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.Equipment - 15%Motor vehicles - 25%Office equipment - 15%

Other accounting policies

StocksStocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

A & C PROPERTY DEVELOPMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2017

2. Employees

2017 2016
Average number of employees during the period 2 2

A & C PROPERTY DEVELOPMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2017

3. Tangible Assets

Total
Cost £
At 01 September 2016 16,262
Additions 212
At 31 August 2017 16,474
Depreciation
At 01 September 2016 7,465
Charge for year 1,880
At 31 August 2017 9,345
Net book value
At 31 August 2017 7,129
At 31 August 2016 8,797

A & C PROPERTY DEVELOPMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2017

4. Creditors: amounts falling due within one year note

Included within amounts falling due within one year is a bank loan of £220,000 secured on the assets of the company. The loan has subsequently been repaid and the charge released.

A & C PROPERTY DEVELOPMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2017

5. Related party transactions

Name of the related party: C Newbould
Relationship:
Director
Description of the Transaction: Included within other creditors are unsecured loans from a director.
£
Balance at 01 September 2016 284,423
Balance at 31 August 2017 273,823
Name of the related party: A Lond-Caulk
Relationship:
Director
Description of the Transaction: Included within other creditors are unsecured loans from a director.
£
Balance at 01 September 2016 984,349
Balance at 31 August 2017 870,949