Deepwell Properties Limited - Limited company accounts 17.3

REGISTERED NUMBER: 03008978 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 June 2017

for

Deepwell Properties Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

P D H Redburn

Mrs L A Redburn

REGISTERED OFFICE:

4 Culver Court

Malting Lane

Much Hadham

Hertfordshire

SG10 6AN

REGISTERED NUMBER:

03008978 (England and Wales)

The directors present their report with the financial statements of the company for the year ended 30 June 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of property developers.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2016 to the date of this report.

P D H Redburn

Mrs L A Redburn

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

P D H Redburn - Director

6 March 2018

TURNOVER

795,000

420,000

Cost of sales

714,687

328,351

GROSS PROFIT

80,313

91,649

Administrative expenses

35,196

38,987

45,117

52,662

Other operating income

1,281

110

OPERATING PROFIT

46,398

52,772

Interest receivable and similar income

1,510

2

47,908

52,774

Interest payable and similar expenses

3,021

1,917

PROFIT BEFORE TAXATION

44,887

50,857

Tax on profit

551

22

PROFIT FOR THE FINANCIAL YEAR

44,336

50,835

CURRENT ASSETS

Stocks

1,065,172

1,658,188

Debtors

4

103,902

101,583

Cash at bank

389,852

9,601

1,558,926

1,769,372

CREDITORS

Amounts falling due within one year

5

473,267

728,049

NET CURRENT ASSETS

1,085,659

1,041,323

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,085,659

1,041,323

CAPITAL AND RESERVES

Called up share capital

1,250,000

Retained earnings

(164,341

)

(208,677

)

SHAREHOLDERS' FUNDS

1,085,659

1,041,323

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 6 March 2018 and were signed on its behalf by:

P D H Redburn - Director

1.	STATUTORY INFORMATION

Deepwell Properties 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Stocks

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.

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 monthly number of employees during the year was 2 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

Other debtors

103,902

101,583

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

Amounts owed to associates

372,200

572,500

Taxation and social security

3,382

1,390

Other creditors

97,685

154,159

473,267

728,049