Registration number:
Dronfield Holdings Ltd
for the Year Ended 30 April 2019
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
Dronfield Holdings Ltd
Contents
Company Information |
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Statement of Director's Responsibilities |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Dronfield Holdings Ltd
Company Information
Director |
Miss Z Dronfield |
Registered office |
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Accountants |
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Page 1 |
Dronfield Holdings Ltd
Statement of Director's Responsibilities
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
• |
select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 2 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Dronfield Holdings Ltd
for the Year Ended 30 April 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dronfield Holdings Ltd for the year ended 30 April 2019 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.
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 at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Dronfield Holdings Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Dronfield Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of Dronfield Holdings Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dronfield Holdings Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Dronfield Holdings Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Dronfield Holdings Ltd. You consider that Dronfield Holdings Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Dronfield Holdings Ltd. 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 accounts.
......................................
Coldnose Road
Rotherwas
Hereford
HR2 6JS
Page 3 |
Dronfield Holdings Ltd
(Registration number: 10725829)
Balance Sheet as at 30 April 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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- |
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Investment property |
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- |
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- |
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Current assets |
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Debtors |
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- |
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Cash at bank and in hand |
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|
|
|
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Creditors: Amounts falling due within one year |
( |
- |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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|
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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 (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
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|
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Profit and loss account |
( |
- |
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Total equity |
( |
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For the financial year ending 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her 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.
Page 4 |
Dronfield Holdings Ltd
(Registration number: 10725829)
Balance Sheet as at 30 April 2019
Approved and authorised by the
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Page 5 |
Dronfield Holdings Ltd
Statement of Changes in Equity for the Year Ended 30 April 2019
Share capital |
Profit and loss account |
Total |
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At 1 May 2018 |
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- |
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Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 30 April 2019 |
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( |
( |
Share capital |
Total |
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New share capital subscribed |
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At 30 April 2018 |
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Page 6 |
Dronfield Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 April 2019
General information |
The company is a private company limited by share capital, incorporated in England .
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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 deferred 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.
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.
Page 7 |
Dronfield Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 April 2019
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 |
Furniture & Fitting |
15% RBM |
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Page 8 |
Dronfield Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 April 2019
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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Additions |
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At 30 April 2019 |
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Depreciation |
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Charge for the year |
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At 30 April 2019 |
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Carrying amount |
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At 30 April 2019 |
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Investment properties |
2019 |
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Additions |
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Fair value adjustments |
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At 30 April |
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Debtors |
2019 |
2018 |
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Prepayments |
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- |
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- |
Creditors |
Creditors: amounts falling due within one year
Note |
2019 |
2018 |
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Due within one year |
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Bank loans and overdrafts |
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- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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- |
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Accruals and deferred income |
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- |
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Other creditors |
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- |
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- |
Page 9 |
Dronfield Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 April 2019
Creditors: amounts falling due after more than one year
Note |
2019 |
2018 |
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Due after one year |
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Loans and borrowings |
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- |
Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Loans and borrowings |
2019 |
2018 |
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Non-current loans and borrowings |
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Bank borrowings |
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- |
Other borrowings |
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- |
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- |
2019 |
2018 |
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Current loans and borrowings |
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Other borrowings |
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- |
Related party transactions |
Transactions with directors |
2019 |
Advances to directors |
Repayments by director |
At 30 April 2019 |
Miss Z Dronfield |
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Transactions with director |
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( |
( |
Page 10 |