Froyle Park Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08965051 (England and Wales)

Froyle Park Properties Limited

Unaudited Financial Statements for the Year Ended 31 December 2017

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

Current assets

Stocks

699,662

699,662

Debtors

3

2,601,565

2,551,282

Cash at bank

174

81,848

3,301,401

3,332,792

Creditors

Amounts falling due within one year

4

2,639,709

2,667,735

Net current assets

661,692

665,057

Total assets less current liabilities

661,692

665,057

Creditors

Amounts falling due after more than one year

5

663,837

664,805

Net (liabilities)/assets

(2,145

)

252

Capital and reserves

Called up share capital

1

1

Retained earnings

(2,146

)

251

(2,145

)

252

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28 September 2018 and were signed on its behalf by:

Mr D Robbins - Director

1.	Statutory information

Froyle Park Properties Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address are as below:

Registered number:

08965051

Registered office:

Harbour House

60 Purewell

Christchurch

BH23 1ES

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

The turnover shown in the financial statements represents amounts receivable for the year, exclusive of Value

Added Tax, in connection with the company's trade of property development.

Development properties and work in progress

Development properties and work in progress are valued at the lower of cost and net realisable value.

Provision is made for any foreseeable losses where appropriate. No element of profit is included in the

valuation of development properties and work in progress.

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 statement of financial position date.

Going concern

The financial statements have been prepared on a going concern basis as the parent company and related

parties have confirmed that, if required, funds will be made available to meet liabilities as they fall due.

3.

Debtors: amounts falling due within one year

2017

2016

£

£

Group and participating interests

2,600,528

2,541,404

Other debtors

1,037

9,878

2,601,565

2,551,282

4.

Creditors: amounts falling due within one year

2017

2016

£

£

Bank loans and overdrafts

13,582

29,721

Trade creditors

1

137

Group and participating interests

2,610,832

2,627,708

Taxation and social security

-

3,824

Other creditors

15,294

6,345

2,639,709

2,667,735

5.

Creditors: amounts falling due after more than one year

2017

2016

£

£

Bank loans

663,837

664,805

6.	Secured debts

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

677,419

694,526

The bank loan is secured over the assets of the company and by a limited personal guarantee of Mr N J Roach.

7.	Contingencies

The company's bank loan facility forms part of a joint borrowing with a number of other companies, under the

control of Mr N J Roach, the controlling shareholder. The parties to this facility have given a joint guarantee in

respect of the total borrowing, which amounted to £14,663,850 as at 31 December 2017.