Company Registration No. 05500351 (England and Wales)
PINEWOOD ROAD DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2019
PAGES FOR FILING WITH REGISTRAR
Century House
Wargrave Road
Henley-on-Thames
RG9 2LT
PINEWOOD ROAD DEVELOPMENTS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
PINEWOOD ROAD DEVELOPMENTS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr. N. Morgan
Mr. R. Morgan
Mr. C. Morgan
Secretary
Mrs. J. Morgan
Company number
05500351
Registered office
Field Farm
Netherton Road
Appleton
Abingdon
Oxfordshire
United Kingdom
OX13 5QW
Accountants
TC Group
Century House
Wargrave Road
Henley-on-Thames
RG9 2LT
PINEWOOD ROAD DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2019
30 September 2019
- 2 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1
1
Current assets
-
-
Creditors: amounts falling due within one year
3
(215,367)
(215,367)
Net current liabilities
(215,367)
(215,367)
Total assets less current liabilities
(215,366)
(215,366)
Capital and reserves
Called up share capital
4
1
1
Profit and loss reserves
(215,367)
(215,367)
Total equity
(215,366)
(215,366)
PINEWOOD ROAD DEVELOPMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2019
30 September 2019
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements. true

For the financial year ended 30 September 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 .

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 November 2019 and are signed on its behalf by:
Mr. N. Morgan
Director
Company Registration No. 05500351
The notes on pages 4 to 6 form part of these financial statements
PINEWOOD ROAD DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 4 -
1
Accounting policies
Company information

Pinewood Road Developments Limited (05500351) is a private company limited by shares incorporated in England and Wales. The registered office is Field Farm, Netherton Road, Appleton, Abingdon, Oxfordshire, United Kingdom, OX13 5QW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Profit and loss account

The company has not traded during the year or the preceding financial period . During this time the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
Not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

PINEWOOD ROAD DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
1
Accounting policies
(Continued)
- 5 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

PINEWOOD ROAD DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 6 -
2
Tangible fixed assets
Land and buildings Freehold
£
Cost
At 1 October 2018 and 30 September 2019
1
Depreciation and impairment
At 1 October 2018 and 30 September 2019
-
Carrying amount
At 30 September 2019
1
At 30 September 2018
1
3
Creditors: amounts falling due within one year
2019
2018
£
£
Other creditors
215,367
215,367
4
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
1
1
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