Pineglade Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04974230 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2019

FOR

PINEGLADE DEVELOPMENTS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A T Abbott

PA Roberts

SECRETARY:

Mr. P S Abbott

REGISTERED OFFICE:

Broadlands

Blean

Canterbury

Kent

CT2 9JJ

REGISTERED NUMBER:

04974230 (England and Wales)

ACCOUNTANTS:

Spain Brothers & Co

Chartered Accountants

Westgate House

87 St Dunstans Street

Canterbury

Kent

CT2 8AE

CURRENT ASSETS

Stocks

75,722

47,261

Debtors

2,502

440

Cash at bank

2,059

4,830

80,283

52,531

CREDITORS

Amounts falling due within one year

223,507

192,381

NET CURRENT LIABILITIES

(143,224

)

(139,850

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(143,224

)

(139,850

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Retained earnings

(143,225

)

(139,851

)

SHAREHOLDERS' FUNDS

(143,224

)

(139,850

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th September 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 11th September 2020 and were signed on its behalf by:

A T Abbott - Director

PA Roberts - Director

1.	STATUTORY INFORMATION

Pineglade 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.

The company's functional currency is £ sterling.

The company's principal activity is property development.

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.

An explanation of how transition to FRS 102 section has affected the reported financial position and

performance is given in note 8.

These accounting policies have been consistently applied to all years presented unless otherwise stated.

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.

Stocks and work in progress

Work in progress is valued at the lower of cost and net realisable value.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded a

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

administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. This is stated on the basis of

completed property sales occurring in the financial year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1

Ordinary

£1

1

1

A.T. Abbott Esq and P.A. Roberts Esq jointly hold the one Ordinary Share in Issue.

5.	RELATED PARTY DISCLOSURES

At the year end, owed to the Company, ST Abbott Limited £18,500 (2018 £18,500). The Director, AT Abbott

Esq is a director and shareholder of ST Abbott Limited.

6.	GOING CONCERN

The Financial Statements have been prepared on a going concern basis. This basis may not be appropriate

because the Company is showing net liabilities of £143,224 (2018 £139,850) as at 30th September 2019. The

Company therefore relies upon the continued support of the Directors.The Directors are satisfied this continued

support will be forthcoming.

For the company's 30 September 2019 financial statements, the Coronavirus outbreak and the related impacts

are considered non-adjusting events. Consequently, there is no impact on the recognition and measurement of

assets and liabilities.

The directors anticipate that the company's operations may be impacted by the Covid-19 pandemic due to the

resulting economic downturn and they are taking all possible steps to alleviate any impact on the company's

operations as far as possible.