Stevenage Road Residential Developments - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07851719 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Stevenage Road Residential Developments

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

F H Carey

S J Carey

Registered office:

87A High Street

The Old Town

Hemel Hempstead

HP1 3AH

Registered number:

07851719 (England and Wales)

Accountants:

Pinkham Blair

Chartered Accountants

87a High Street

The Old Town

Hemel Hempstead

Hertfordshire

HP1 3AH

Current assets

Stocks

20,189,597

22,066,579

Debtors

4

28,153

503

Cash at bank

4,199,001

12,702

24,416,751

22,079,784

Creditors

Amounts falling due within one year

5

22,540,296

21,024,779

Net current assets

1,876,455

1,055,005

Total assets less current liabilities

1,876,455

1,055,005

Creditors

Amounts falling due after more than one year

6

1,155,952

1,155,952

Net assets/(liabilities)

720,503

(100,947

)

Capital and reserves

Called up share capital

7

100

100

Retained earnings

720,403

(101,047

)

Shareholders' funds

720,503

(100,947

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2020 and were signed on its behalf by:

F H Carey - Director

1.	Statutory information

Stevenage Road Residential Developments Limited 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.

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.

Stocks

Stocks include work in progress and is valued at the lower of cost and net realisable value. Cost

comprises land acquisition, construction, infrastructure and other development expenditure.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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 1 (2018 - 1 ) .

4.

Debtors: amounts falling due within one year

2019

2018

£

£

Other debtors

28,153

503

5.

Creditors: amounts falling due within one year

2019

2018

£

£

Trade creditors

188,638

285,482

Amounts owed to group undertakings

7,146,347

7,146,347

Taxation and social security

179,038

7,688

Other creditors

15,026,273

13,585,262

22,540,296

21,024,779

6.

Creditors: amounts falling due after more than one year

2019

2018

£

£

Amounts owed to group undertakings

1,155,952

1,155,952

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

50

A Ordinary

1

50

50

50

B Ordinary

1

50

50

100

100

8.	Related party disclosures

Galileo Homes Limited

Shareholder

At 31 December the following amounts were owed to Galileo Homes Limited and are disclosed in the

accounts as shown:

2019

2018

Other creditors: amounts due in less than 1 year

7,146,347

7,146,347

Other creditors: amounts due in more than 1 year

1,155,952

1,155,952

Mrs F H Carey

Director

At 31 December the following amounts were owed to Mrs F H Carey and are disclosed in the

accounts as shown:

2019

2018

Other creditors:

14,937,084

13,581,762