Pavilion Nottingham Development Co Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10012265 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Pavilion Nottingham Development Co Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D P Reece

REGISTERED OFFICE:

129a Middleton Boulevrd

Wollaton Park

Nottingham

NG8 1FW

REGISTERED NUMBER:

10012265 (England and Wales)

ACCOUNTANTS:

Cobb Burgin

Chartered Accountants

129a Middleton Boulevard

Wollaton Park

Nottingham

NG8 1FW

FIXED ASSETS

Investment property

4

770,000

770,000

CURRENT ASSETS

Debtors

5

22,840

27,684

Cash at bank

2,848

13,201

25,688

40,885

CREDITORS

Amounts falling due within one year

642,303

683,159

NET CURRENT LIABILITIES

(616,615

)

(642,274

)

TOTAL ASSETS LESS CURRENT LIABILITIES

153,385

127,726

PROVISIONS FOR LIABILITIES

21,004

21,004

NET ASSETS

132,381

106,722

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

89,544

89,544

Retained earnings

42,737

17,078

132,381

106,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 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 31 March 2020 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 director and authorised for issue on 5 November 2020 and were signed by:

Mr D P Reece - Director

1.	STATUTORY INFORMATION

Pavilion Nottingham Development Co 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.

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 as modified by the revaluation of certain assets.

At the year end, the company balance sheet showed a net current liabilities position. The director has confirmed his ongoing financial support and considers it appropriate to prepare the financial statements on a going concern basis.

Turnover

Turnover is the amount derived from the letting of the company's property and from property sales and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised when the company becomes entitled to the rental income due.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 NIL (2019 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

and 31 March 2020

770,000

NET BOOK VALUE

At 31 March 2020

770,000

At 31 March 2019

770,000

Fair value at 31 March 2020 is represented by:

£

Valuation in 2018

110,548

Cost

659,452

770,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2020

2019

£

£

Cost

659,452

659,452

The investment properties were valued on a fair value basis on 31 March 2020 by the Director from information available .

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other debtors

-

2,163

6.	RELATED PARTY DISCLOSURES