Report of the Director And
Report of the Director and
Un audited financial Statements
For the period ending 31 May 2011
For
Stickney Developments Limited
Contents of the Financial Statements
For the period ending 31 may 2011
Company Information
For the period ending 31 May 2011
DIRECTOR:-Mrs A H Hiley
REGISTERED OFFICE:- Station Business Park
Office 1
Main Road
Stickney
Boston
Lincolnshire
PE22 8EE
REGISTERED NUMBER:-07251699 (England and Wales)
ACCOUNTANTS:-self
Report of the Director
For the period ending 31 May 2011
The director presents her report with the financial statements of the company for the period ending 31st May 2011.
INCORPORATION
The company was incorporated on 12th May 2010 and commenced trading on the same date.
PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of letting
Property.
DIRECTORS
The directors who have held office during the period from 12th May 2010 to the date of this report are as follows:-
Mrs A H Hiley – Appointed
The director who is eligible offers herself for election at the forthcoming first Annual General Meeting.
This report has been prepared in accordance with the special provisions of part 15 of the companies act 2006 relating to small companies
ON BERHALF OF THE BOARD:
……………………………………..
Mrs A H Hiley – Director
Date ……………………………….
Profit and Loss Account
For the period ending 31st May 2011
Notes£
TURNOVER?? DO WE PUT RENT IN HERE AS ITS SALES??
Cost of sales80.000 ?? opening stock was 160k there was write off of 80 as most was damaged
GROSS PROFIT-80.000 ??
Administrative expenses69062.89
-149062.89
Other operating income 33264.00 ---this is the rent?
Interest payable and similar charges0
PROFIT ON ORDINARY ACTIVITIES-115798.89
BEFORE TAXATION
Tax on profit on ordinary activites
PROFIT FOR THE FINANCIAL PERIOD-115798.89
Balance sheet
££
FIXED ASSETS
Fixed assets buildings170.000
CURRENT ASSETS
Stock80.000
Cash at bank11804.14
91804.14
CREDITORS
Amounts falling due within one year14000
NET CURRENT LIABILITIES(77804.14)
TOTAL ASSETS LESS CURRENT 92195.86
LIABILITIES
CREDITORS
Amount falling due after more than 342145.35
one year
NET ASSETS-249949.49
CAPITAL AND RESERVES
Called up share capital1
Profit and loss account-115798.89
SHAREHOLDERS FUNDS114798.89
The company is entitled to exemption from audit under section 477 of the companies Act 2006 for the period ending 31st May 2011
The members have not required the company to obtain an audit of its financial statements for the period ending 31st May 2011 in accordance with Section 476 of the companies Act 2006.
The director acknowledges her responsibilities for:-
(a)ensuring that the company keeps accounting records that 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 the financial year and its profit or loss for each financial year in accordance withy the requirements of sections 394 and 395 and which otherwise comply with requirements of the companies act 2006 relating to finacial statements, so far as applicable to the company.
Notes to the Financial statements
For the period ending 31st May 2011
1ACCOUNTING POLOCIES
Accounting convention
The financial statements have been prepared under the Historical cost convention and in accordance with finacial reporting standard for smaller entities (effective 2008).
Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.
Tangible fixed assets
Depreciation is provided at the following annual rate in order to write off each asset over its estimated useful life.
Stocks
Stocks are valued at the lower of cost and net realizable value, after making due allowance for obsolete and slow moving items.
Deferred Tax
Deferred tax is recognized in respect of all timing difference that have originated but not reversed at the balance sheet date.
2OPERATING PROFIT
The operating profit is stated after charging:
Depreciation – owned assets
Directors remuneration and other benefits etc
3Analysis of the tax charge
No liability to UK corporation tax arose on ordinary activities for the period.
The financial statements have been prepared in accordance with the special provisions of part 15 of the companies act 2006 relating to small companies and with the financial reporting standard for smaller entities(effective April 2008).
The financial statements were approved by the director on ………………….. and were signed by:
………………………………
Mrs A H Hiley – director
4CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors directors loans14000.00
5CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank Loans28640.16
Bank Mortgage313505.19
6CALLED UP SHARE CAPITAL
Alloted, missed and fully paid:
Number:Class:Norminal value
1ordinary£1.00
7RESERVES ????????????????????????
Profit for the period
At 31st May 2011
As described on the balance sheet you are responsible for the preparation of the financial statements for the period ending 31st May 2012 set out on pages to and you consider that the company is exempt from an audit.
In accordance with your instructions, we have complied these un audited financial statements in order to assist you to fulfill your statutory responsibilities, from the accounting records and information and explantions supplied to us:-
Trading and Profit and Loss Account
For the period ending 31st May2011
££
Sales0
Cost of sales
Purchases160000 initial stock
Closing stock 80000 with stock write off
GROSS PROFIT-80000
Other income
Sundry expenses33264.00 ???
-46736
Expenditure
Mortgage25136.37 DOES THIS NEED TO BE NETT OF INTEREST??
Advertising 29.99
Motor expenses121.57
Building expenses33675.93
Sundry expenses488.98
Loan1359.84----IS THIS LOAN INTEREST OR PAYMENTS??
Financial costs
Bank charges59.65
Bank mortgage interest8190.56 I think is more DOUBLE CHECK BOTH LOAN AND MORTGAGE
-69062.89
NET PROFIT/LOSS-115798.89