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Unaudited Financial Statements |
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for the Year Ended 30 April 2018 |
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for |
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Douglas & Dean Letting and Property |
Management Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 April 2018 |
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for |
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Douglas & Dean Letting and Property |
Management Ltd |
Douglas & Dean Letting and Property |
Management Ltd (Registered number: 07623663) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2018 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Douglas & Dean Letting and Property |
Management Ltd |
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Company Information |
for the Year Ended 30 April 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
69 High Street |
Bideford |
Devon |
EX39 2AT |
Douglas & Dean Letting and Property |
Management Ltd (Registered number: 07623663) |
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Abridged Balance Sheet |
30 April 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Debtors |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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PROVISIONS FOR LIABILITIES |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges her 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. |
Douglas & Dean Letting and Property |
Management Ltd (Registered number: 07623663) |
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Abridged Balance Sheet - continued |
30 April 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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Douglas & Dean Letting and Property |
Management Ltd (Registered number: 07623663) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2018 |
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1. | STATUTORY INFORMATION |
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Douglas & Dean Letting and Property Management Ltd is a
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England and Wales. The company's 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. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The principal accounting policies adopted in the preparation of the financial statements are set out below and |
remain unchanged from the previous period, and also have been consistently applied within the same accounts. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
Goodwill representing the excess of the purchase price over the fair value of the net assets of undertakings |
acquired is capitalised in the balance sheet and is amortised by equal annual instalments over the expected useful |
economic life of 20 years. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and |
accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating |
as intended by management. |
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Financial instruments |
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in |
administrative expenses. Loans and borrowings are initially recognised at the transaction price including |
transaction costs. |
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Douglas & Dean Letting and Property |
Management Ltd (Registered number: 07623663) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
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3. | ACCOUNTING POLICIES - continued |
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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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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Going concern |
The company has retained losses of £2,353 (2017 - £1,140). It also has net current liabilities of £10,842 (2017 - |
£10,828) and net liabilities of £2,253 (2017 - £1,040). |
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The company is reliant on the continuing financial support of its creditors and while there are no reasons to |
doubt that this support will continue, inherently there can be no certainty in relation to these matters. On this |
basis, and having regard to the company's anticipated future revenues and costs including repayment of debt |
where appropriate, together with the expected availability of working capital, the director considers it |
appropriate to prepare the financial statements on the going concern basis. The financial statements do not |
include any adjustments that would result from an inability to meet obligations as they fall due. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Douglas & Dean Letting and Property |
Management Ltd (Registered number: 07623663) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
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5. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2017 |
and 30 April 2018 |
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AMORTISATION |
At 1 May 2017 |
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Amortisation for year |
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At 30 April 2018 |
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NET BOOK VALUE |
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At 30 April 2018 |
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At 30 April 2017 |
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6. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2017 |
and 30 April 2018 |
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DEPRECIATION |
At 1 May 2017 |
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Charge for year |
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At 30 April 2018 |
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NET BOOK VALUE |
At 30 April 2018 |
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At 30 April 2017 |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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Since the balance sheet date the company has renewed the lease to occupy the premises for a further 5 years at an |
annual rental of £6,000. |
Douglas & Dean Letting and Property |
Management Ltd (Registered number: 07623663) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank overdrafts |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 April 2018 and |
30 April 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The maximum overdrawn balance during the year was £2,651. |
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The loan was interest free and had no fixed date for repayment. |
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11. | POST BALANCE SHEET EVENTS |
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Since the balance sheet date the company has renewed the lease to occupy the premises for a further 5 years at an |
annual rental of £6,000. |