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

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


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REGISTERED NUMBER: 05352544 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2021

for

Ongoing Developments Limited

Ongoing Developments Limited (Registered number: 05352544)






Contents of the Financial Statements
for the Year Ended 31 March 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


Ongoing Developments Limited

Company Information
for the Year Ended 31 March 2021







DIRECTORS: Mr R E Howden OBE
Mrs A L Partridge





SECRETARY: Mrs A L Partridge





REGISTERED OFFICE: Duncan House
142 Thornes Lane
Wakefield
West Yorkshire
WF2 7RE





REGISTERED NUMBER: 05352544 (England and Wales)





ACCOUNTANTS: Harris & Co Limited
Chartered Accountants
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW

Ongoing Developments Limited (Registered number: 05352544)

Balance Sheet
31 March 2021

2021 2020
Notes £    £   
FIXED ASSETS
Investments 5 301,500 301,500

CURRENT ASSETS
Debtors 6 100 100

CREDITORS
Amounts falling due within one year 7 (301,500 ) (301,500 )
NET CURRENT LIABILITIES (301,400 ) (301,400 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

100

100

CAPITAL AND RESERVES
Called up share capital 8 100 100
SHAREHOLDERS' FUNDS 100 100

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2021 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 and authorised for issue on 5 July 2021 and were signed on its behalf by:





Mr R E Howden OBE - Director


Ongoing Developments Limited (Registered number: 05352544)

Notes to the Financial Statements
for the Year Ended 31 March 2021

1. STATUTORY INFORMATION

Ongoing 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 presentation and functional currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Ongoing Developments Limited as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

Ongoing Developments Limited (Registered number: 05352544)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2020
and 31 March 2021 301,500
NET BOOK VALUE
At 31 March 2021 301,500
At 31 March 2020 301,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 100 100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Amounts owed to group undertakings 301,500 301,500

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 Ordinary £1 100 100