Black Country Developments Limited - Accounts to registrar (filleted) - small 18.2

Black Country Developments Limited - Accounts to registrar (filleted) - small 18.2

BLACK COUNTRY DEVELOPMENTS LIMITED - Company Information

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REGISTERED NUMBER: 02746645















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

BLACK COUNTRY DEVELOPMENTS LIMITED
BLACK COUNTRY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02746645)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BLACK COUNTRY DEVELOPMENTS LIMITED


COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2020







DIRECTORS: S Bindra
Mrs B K Bindra





REGISTERED OFFICE: Harpal House
14 Holyhead Road
Handsworth
Birmingham
West Midlands
B21 0LT





REGISTERED NUMBER: 02746645





AUDITORS: Thapers Limited
Chartered Accountants
Harpal House
14 Holyhead Road
Handsworth
Birmingham
West Midlands
B21 0LT
Page 1
BLACK COUNTRY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02746645)


BALANCE SHEET
30 SEPTEMBER 2020

30/9/20 30/9/19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,294 42,194
Investment property 5 3,479,850 3,479,850
3,544,144 3,522,044

CURRENT ASSETS
Debtors 6 97,626 35,794
Cash at bank and in hand 148,918 19,416
246,544 55,210
CREDITORS
Amounts falling due within one year 7 345,909 437,826
NET CURRENT LIABILITIES (99,365 ) (382,616 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,444,779
3,139,428

CREDITORS
Amounts falling due after more than one
year
8
(2,544,934
)
(2,334,597
)

PROVISIONS FOR LIABILITIES 10 (1,490 ) (1,443 )
NET ASSETS 898,355 803,388

CAPITAL AND RESERVES
Called up share capital 11 999 999
Retained earnings 12 897,356 802,389
SHAREHOLDERS' FUNDS 898,355 803,388

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 29 September 2021 and were signed on its behalf by:





S Bindra - Director


The notes form part of these financial statements

Page 2
BLACK COUNTRY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02746645)


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020

1. STATUTORY INFORMATION

Black Country Developments Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Computer equipment - 20% on reducing balance

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).

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BLACK COUNTRY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02746645)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2020

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 October 2019 23,861 34,848 310 59,019
Additions 23,859 - 109 23,968
At 30 September 2020 47,720 34,848 419 82,987
DEPRECIATION
At 1 October 2019 - 16,642 183 16,825
Charge for year - 1,821 47 1,868
At 30 September 2020 - 18,463 230 18,693
NET BOOK VALUE
At 30 September 2020 47,720 16,385 189 64,294
At 30 September 2019 23,861 18,206 127 42,194

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2019
and 30 September 2020 3,479,850
NET BOOK VALUE
At 30 September 2020 3,479,850
At 30 September 2019 3,479,850

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/20 30/9/19
£    £   
Trade debtors 41,143 32,337
Other debtors 54,154 -
Prepayments 2,329 3,457
97,626 35,794

Page 4 continued...
BLACK COUNTRY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02746645)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2020

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/20 30/9/19
£    £   
Bank loans and overdrafts (see note 9) 148,680 107,512
Trade creditors 2,766 26,793
Tax 33,165 29,046
Other creditors - 95,157
Deferred Income 112,021 112,021
Tenant deposits 2,331 3,048
Company Credit Card 7,129 27,276
Directors' current accounts 16,550 14,602
Accrued expenses 23,267 22,371
345,909 437,826

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/9/20 30/9/19
£    £   
Bank loans (see note 9) 2,544,934 2,334,597

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,862,399 1,652,062

9. LOANS

An analysis of the maturity of loans is given below:

30/9/20 30/9/19
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 8,832
Bank loans 97,811 47,811
Lloyds Loan EX 28,725 28,725
Lloyds loan 5207 22,144 22,144
148,680 107,512

Amounts falling due between one and two years:
Bank loans - 1-2 years 260,405 260,405

Amounts falling due between two and five years:
Bank loans - 2-5 years 390,608 390,608
Lloyds loan 1801 9,003 9,003
Lloyds loan 4533 22,519 22,519
422,130 422,130

Page 5 continued...
BLACK COUNTRY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02746645)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2020

9. LOANS - continued
30/9/20 30/9/19
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 1,862,399 1,652,062

10. PROVISIONS FOR LIABILITIES
30/9/20 30/9/19
£    £   
Deferred tax
Accelerated capital allowances 1,490 1,443

Deferred
tax
£   
Balance at 1 October 2019 1,443
Provided during year 47
Balance at 30 September 2020 1,490

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/9/20 30/9/19
value: £    £   
999 Ordinary £1 999 999

12. RESERVES
Retained
earnings
£   

At 1 October 2019 802,389
Profit for the year 94,967
At 30 September 2020 897,356

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andeep Kumar Mangal (Senior Statutory Auditor)
for and on behalf of Thapers Limited

Page 6 continued...
BLACK COUNTRY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02746645)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2020

14. RELATED PARTY DISCLOSURES

The company undertook the following transactions with parties relating to it:

30/09/2020 30/09/2019
£ £
Lioncrest Investments Limited
Year end (creditor)/debtor (357,017) (239,861)

Westcross Lettings Limited
Year end (creditor)/debtor 52,504 5,324

Sandon Investments Limited
Year end (creditor)/debtor 168,909 144,817

Sterling House Birmingham Limited
Year end (creditor)/ debtor (1,985) (2,700)

DB & H Limited
Year end (creditor)/ debtor 57,486 57,486

Monument Consultants (Midland) Limited
Year end (creditor)/ debtor 6,000 NIL

Mulsanne Developments Limited
Year end (creditor)/ debtor NIL (5,470)

Canelo Construction Limited
Year end (creditor)/ debtor (103,743.) (54,754)
Cullinan Developments Limited
Year end (creditor)/debtor £232,000 NIL

15. POST BALANCE SHEET EVENTS

In late 2019 news first emerged from China about the COVID - 19 virus. During the first quarter of 2020, the
outbreak of the Covid- 19 virus, spread throughout the rest of the world and became a global pandemic. the
pandemic triggered a significant downturn in trade in the UKand throughout the world, and these challenging
conditions could continue for an extended period of time. Related financial impacts cannot be estimated at this time.

Management considers this outbreak to be a non-adjusting post balance sheet event.

The directors have assessed the liquidity requirements for the coming 12 months, taking into account the impact of Covid- 19 and have not identified any matters which would impact going concern.

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