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REGISTERED NUMBER:
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DUNSTALL DEVELOPMENTS LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2017 |
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REGISTERED NUMBER:
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DUNSTALL DEVELOPMENTS LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2017 |
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DUNSTALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05411726) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 3 | to | 4 |
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Notes to the Financial Statements | 5 | to | 7 |
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DUNSTALL DEVELOPMENTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants and Statutory Auditor |
31 St John's |
Worcester |
Worcestershire |
WR2 5AG |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
DUNSTALL DEVELOPMENTS LIMITED |
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The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial |
statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are |
cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be |
filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
statements of Dunstall Developments Limited for the year ended 30 April 2017 which comprise the Income Statement, Balance |
Sheet, and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of Dunstall Developments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Dunstall Developments Limited and state those matters that we have agreed to state to the director of Dunstall Developments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dunstall Developments Limited director for our work or for this report. |
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It is your duty to ensure that Dunstall Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Dunstall Developments Limited. You consider that Dunstall Developments Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Dunstall Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants and Statutory Auditor |
31 St John's |
Worcester |
Worcestershire |
WR2 5AG |
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Date: ............................................. |
DUNSTALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05411726) |
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BALANCE SHEET |
30 APRIL 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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ACCRUALS AND DEFERRED INCOME | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
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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. |
DUNSTALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05411726) |
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BALANCE SHEET - continued |
30 APRIL 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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DUNSTALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05411726) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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1. | STATUTORY INFORMATION |
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Dunstall Developments Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
The turnover shown in the profit and loss account represents the sale of development properties recognised at the point of |
completion of the contracts. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value |
is recognised in profit or loss. |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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DUNSTALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05411726) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 May 2016 |
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Additions |
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At 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 May 2016 |
and 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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Fair value at 30 April 2017 is represented by: |
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Valuation in 2016 | 46,532 |
Cost | 813,918 |
860,450 |
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If the properties had not been revalued they would have been included at the following historical cost: |
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2017 | 2016 |
£ | £ |
Cost | 813,918 | - |
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The investment properties were valued on a fair value basis on 1 April 2016 by the director and are reviewed annually . |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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DUNSTALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05411726) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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The loans are secured by a fixed and floating charge over the assets of the company by the National Westminster bank and |
by a loan from a trust comprising M Huskinson, O Stevenson and J Stevenson. |
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10. | RESERVES |
Fair |
value |
reserve |
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At 1 May 2016 |
and 30 April 2017 |
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11. | RELATED PARTY DISCLOSURES |
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The company was under the control of Mr Link throughout the current and previous year. Mr Link is the managing director |
and sole shareholder. |
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During the year
Mr Link
made l
oans to the company
and at the year end the balance on the directors loan account was
£581,922, which is the balance shown in 'other cr editors'. |
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12. | FIRST YEAR ADOPTION |
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This is the first year that the company has presented results under FRS 102 1A. The last financial statements under previous |
UK GAAP were for the year ended 30 April 2016. Set out below are the changes in accounting policies which reconcile the |
profit for the financial year ended 30 April 2016 and the total equity as at 1May 2015 and 30 April 2016 between UK GAAP |
as previously reported and under FRS 102 1A in these financial statements. |
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Deferred Tax |
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The company has accounted for deferred tax on transition of £7,910 being 17% of the revaluation gain on the investment |
properties. |
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