Tower Gate Developments Limited - Accounts to registrar - small 17.2
Tower Gate Developments Limited - Accounts to registrar - small 17.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2017 |
for |
Tower Gate Developments Limited |
Tower Gate Developments Limited (Registered number: 04415989) |
Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Tower Gate Developments Limited |
Company Information |
for the Year Ended 31 March 2017 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
452 Manchester Road |
Heaton Chapel |
Stockport |
SK4 5DL |
Tower Gate Developments Limited (Registered number: 04415989) |
Balance Sheet |
31 March 2017 |
31.3.17 | 31.3.16 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
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 on by: |
Tower Gate Developments Limited (Registered number: 04415989) |
Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
1. | STATUTORY INFORMATION |
Tower Gate Developments Limited is a |
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 |
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. |
Investment properties |
Investment properties are accounted for in accordance with Statement of Standard Accounting Practice No 19, |
with the effect that: |
The surplus or deficit from the annual revaluation is transferred to investment revaluation reserve unless a deficit, |
or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in |
the profit and loss account for the year. |
No depreciation or amortisation is provided in respect of freehold or leasehold investment properties in |
accordance with the FRSSE (effective April 2008).Such properties are held for their investment potential and not |
for consumption within the business. This is a departure from CA 2006 which requires all the properties to be |
depreciated and the directors consider that to depreciate them would not enable the financial statements to give a |
true and fair view. Investment properties are stated at their market value at the balance sheet date. Depreciation |
or amortisation is only one of many factors reflected in the annual revaluation and the amount which might |
otherwise have been shown cannot be separately identified or quantified. In case where a deficit on a revaluation |
occurs which is in excess of its revaluation reserve, the amount by which the deficit exceeds the reserve is |
charged to profit and loss account.Taxation is not provided for on any revaluation surplus until a property is sold |
and contracts thereon exchanged. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Tower Gate Developments Limited (Registered number: 04415989) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Intercompany account | 503,517 | 502,517 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Bank loans and overdrafts |
Intercompany account | 800,550 | 750,000 |
Accrued expenses |