Registration number:
Deanway Properties Limited
for the Year Ended 31 March 2019
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP
Deanway Properties Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Deanway Properties Limited
Company Information
Directors |
Mrs W Bloom Mr LP Pattenden Mr R Bloom |
Registered office |
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Accountants |
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Page 1 |
Deanway Properties Limited
(Registration number: 01476447)
Balance Sheet as at 31 March 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
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Deanway Properties Limited
(Registration number: 01476447)
Balance Sheet as at 31 March 2019
Approved and authorised by the
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Mr R Bloom
Director
Page 3 |
Deanway Properties Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 4 |
Deanway Properties Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixture, Fittings and Computer Equipment |
Straight Line - 5 years |
Investment property
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Non-distributable reserve
The aggregate fair value adjustments relating to movements in the value of the company's investment properties are transferred at the end of each period, net of deferred tax, from the profit and loss reserve to the non-distributable reserve.
On disposal of investment property the aggregate fair vale adjustment is transferred back to profit and loss reserves and the deferred tax provision is transferred to current liabilities.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 5 |
Deanway Properties Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Tangible assets |
Furniture, fittings and equipment |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 April 2018 |
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At 31 March 2019 |
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Depreciation |
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At 1 April 2018 |
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Charge for the year |
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At 31 March 2019 |
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Carrying amount |
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At 31 March 2019 |
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At 31 March 2018 |
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- |
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Investment properties |
2019 |
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At 1 April |
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Disposals |
( |
At 31 March |
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Investment property is carried at fair value. Gains are recognised in profit or loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.
Debtors |
2019 |
2018 |
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Trade debtors |
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Prepayments |
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Other debtors |
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- |
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Share capital |
Allotted, called up and fully paid shares
Page 6 |
Deanway Properties Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
2019 |
2018 |
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No. |
£ |
No. |
£ |
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500 |
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500 |
Creditors |
Creditors: amounts falling due within one year
2019 |
2018 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
- |
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Other creditors |
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Creditors: amounts falling due after more than one year
2019 |
2018 |
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Due after one year |
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Other non-current financial liabilities |
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Loans and borrowings |
2019 |
2018 |
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Non-current loans and borrowings |
Related party transactions |
Summary of transactions with other related parties
Page 7 |
Deanway Properties Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Mr R Bloom and Mr L Pattenden are directors of both companies.
At the balance sheet date, the amount due from the related party was £701 (2018 : (£130,419).
Deanway Properties ( Brunswick) Limited
Mr R Bloom and Mr L Pattenden are directors of both companies.
At the balance sheet date, the amount due to the related party was £ 217,745 (2018: £417,745).
AGB (Church Road) Limited
Mr R Bloom is a director of both companies.
At the balance sheet date, the amount due to the related party was £ 199,000 (2018: £199,000).
AGB Properties(Woking) Limited
Mr R Bloom and Mr L Pattenden are directors of both companies.
At the balance sheet date, the amount due to the related party was £ 215,000 (2018: £181,950).
Abbingsworth Properties Limited
Mr R Bloom and Mr L Pattenden are directors of both companies.
At the balance sheet date, the amount due to the related party was nil (2018: £8,225).
Included in other creditors due after more than one year is is a loan of £196,634 (2018: £734,856) due to Mr R Bloom and Mrs W Bloom, trading as Deanway Properties, a partnership in which Mr R Bloom, the director has a 50% interest.
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