Sherwood Properties (Nottingham) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09411370 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Sherwood Properties (Nottingham) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M S Landa

P S Landa

P S Landa

S S Landa

REGISTERED OFFICE:

Concord House 1 Malton Road

New Basford

Nottingham

Nottinghamshire

NG5 1EG

REGISTERED NUMBER:

09411370 (England and Wales)

ACCOUNTANTS:

torr waterfield

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Tangible assets

4

-

918

Investments

5

-

100

Investment property

6

7,500,000

7,500,000

7,500,000

7,501,018

CURRENT ASSETS

Debtors

7

45,377

343,377

Cash at bank

336,475

277,665

381,852

621,042

CREDITORS

Amounts falling due within one year

8

3,917,870

4,271,193

NET CURRENT LIABILITIES

(3,536,018

)

(3,650,151

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,963,982

3,850,867

CREDITORS

Amounts falling due after more than one year

9

(1,915,000

)

(2,455,000

)

PROVISIONS FOR LIABILITIES

(1,527

)

(3,819

)

NET ASSETS

2,047,455

1,392,048

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,047,355

1,391,948

2,047,455

1,392,048

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 Board of Directors on 30 September 2019 and were signed on its behalf by:

M S Landa - Director

1.	STATUTORY INFORMATION

Sherwood Properties (Nottingham) 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 etc

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred

taxation is provided on these gains at the rate expected to apply when the property is sold. The gains on

investment properties are transferred to the non-distributable fair value reserve.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 April 2018

2,292

Disposals

(2,292

)

At 31 March 2019

-

DEPRECIATION

At 1 April 2018

1,374

Eliminated on disposal

(1,374

)

At 31 March 2019

-

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

918

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2018

100

Impairments

(100

)

At 31 March 2019

-

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Deeping Developments Limited

Registered office: Concord House, 1 Malton Road, New Basford, Nottingham, Nottinghamshire NG5 1EG, UK

Nature of business: Development and rental of land and buildings

%

Class of shares:

holding

Ordinary

100.00

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

and 31 March 2019

7,500,000

NET BOOK VALUE

At 31 March 2019

7,500,000

At 31 March 2018

7,500,000

The directors consider the fair value of investment property at the year end to be £7,500,000 (2018 £7,500,000).

Valuations of investment property have been made on an open market value for existing use basis.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

-

4,879

Amounts owed by group undertakings

-

298,127

Other debtors

45,377

40,371

45,377

343,377

Other debtors include prepayments and accrued income of £15,377 (2018 £10,371).

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

540,000

540,000

Trade creditors

19,796

24,696

Taxation and social security

153,971

149,776

Other creditors

3,204,103

3,556,721

3,917,870

4,271,193

Other creditors include accruals and deferred income of £195,682 (2018 £185,675).

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans

1,915,000

2,455,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans over 5 years

1,780,000

1,780,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Bank loans

2,455,000

2,995,000

Bank loans are secured over investment property.

11.	RELATED PARTY DISCLOSURES

At the end of the year the amount due to the directors was £2,584,112 (2018 £2,924,113).