A & B Developments Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: 03593219 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2018

for

A & B Developments Ltd.

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr B H M Jones

SECRETARY:

Mrs A P Jones

REGISTERED OFFICE:

69 High Street

Bideford

Devon

EX39 2AT

REGISTERED NUMBER:

03593219 (England and Wales)

ACCOUNTANTS:

R T Marke & Co Ltd

Chartered Accountants

69 High Street

Bideford

Devon

EX39 2AT

FIXED ASSETS

Tangible assets

5

-

Investments

6

1

-

1

-

CURRENT ASSETS

Debtors

426,785

410,817

Cash at bank and in hand

1,863

1,165

428,648

411,982

CREDITORS

Amounts falling due within one year

519,831

494,750

NET CURRENT LIABILITIES

(91,183

)

(82,768

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(91,182

)

(82,768

)

CAPITAL AND RESERVES

Called up share capital

7

2

Retained earnings

(91,184

)

(82,770

)

SHAREHOLDERS' FUNDS

(91,182

)

(82,768

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 26 February 2019 and were signed by:

Mr B H M Jones - Director

1.	STATUTORY INFORMATION

A & B Developments Ltd. is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and

remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Preparation of consolidated financial statements

The financial statements contain information about A & B Developments Ltd. as an individual company and do

not contain consolidated financial information as the parent of a group. The company is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% straight line

Fixtures and fittings

-

20% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating

as intended by management.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in

administrative expenses. Loans and borrowings are initially recognised at the transaction price including

transaction costs.

Going concern

The company has retained losses of £91,184 (2017 - £82,770). It also has net current liabilities of £91,183 (2017

- £82,768) and net liabilities of £91,182 (2017 - £82,768). The company cannot continue to make losses of this

significance while still meeting its obligations as they fall due

The company is reliant on the continuing financial support of its creditors and while there are no reasons to

doubt that this support will continue, inherently there can be no certainty in relation to these matters. On this

basis, and having regard to the company's anticipated future revenues and costs including repayment of debt

where appropriate, together with the expected availability of working capital, the director considers it

appropriate to prepare the financial statements on the going concern basis. The financial statements do not

include any adjustments that would result from an inability to meet obligations as they fall due.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2017

and 31 July 2018

3,159

DEPRECIATION

At 1 August 2017

and 31 July 2018

3,159

NET BOOK VALUE

At 31 July 2018

-

At 31 July 2017

-

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

Additions

1

At 31 July 2018

1

NET BOOK VALUE

At 31 July 2018

1

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

2

Ordinary Share

£1

2

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2018 and

31 July 2017:

2018

2017

£

Mr B H M Jones

Balance outstanding at start of year

41,085

-

Amounts advanced

34,834

56,085

Amounts repaid

(75,919

)

(15,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

41,085

The maximum overdrawn balance during the year was £41,724.

Interest was charged on the loan at the official interest rate.