Datelink Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05120831 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

FOR

DATELINK LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

A E Brinner

SECRETARY:

Mrs L Orzel

REGISTERED OFFICE:

115 Craven Park Road

South Tottenham

London

N15 6BL

REGISTERED NUMBER:

05120831 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

3

2,424

2,852

Investment property

4

8,500,000

8,500,000

8,502,424

8,502,852

CURRENT ASSETS

Debtors

5

1,456,823

1,326,925

Cash at bank and in hand

90,681

41,995

1,547,504

1,368,920

CREDITORS

Amounts falling due within one year

6

1,418,160

1,378,469

NET CURRENT ASSETS/(LIABILITIES)

129,344

(9,549

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,631,768

8,493,303

CREDITORS

Amounts falling due after more than one year

7

2,012,061

2,327,778

NET ASSETS

6,619,707

6,165,525

CAPITAL AND RESERVES

Called up share capital

9

100

100

Revaluation reserve

10

3,613,444

3,613,444

Retained earnings

10

3,006,163

2,551,981

SHAREHOLDERS' FUNDS

6,619,707

6,165,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30 May 2019 and were signed by:

A E Brinner - Director

1.	STATUTORY INFORMATION

Datelink Ltd is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

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.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

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.

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.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2017

and 31 May 2018

13,360

DEPRECIATION

At 1 June 2017

10,508

Charge for year

428

At 31 May 2018

10,936

NET BOOK VALUE

At 31 May 2018

2,424

At 31 May 2017

2,852

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2017

and 31 May 2018

8,500,000

NET BOOK VALUE

At 31 May 2018

8,500,000

At 31 May 2017

8,500,000

Fair value at 31 May 2018 is represented by:

£

Valuation in 2017

3,613,444

Cost

4,886,556

8,500,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade debtors

79,551

52,079

Other debtors

1,377,272

1,274,846

1,456,823

1,326,925

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade creditors

177,754

171,346

Taxation and social security

205,776

171,544

Other creditors

1,034,630

1,035,579

1,418,160

1,378,469

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.18

31.5.17

£

£

Bank loans

2,012,061

2,327,778

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

2,012,061

2,327,778

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.18

31.5.17

£

£

Bank loans

2,012,061

2,327,778

The Building Society Mortgages and bank loans and overdrafts are secured by a first charge over the company's

investment properties and floating charge over the assets of the company. The terms of the loans are from 10

years to 25 years with fixed and variable interest rates.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.18

31.5.17

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 June 2017

2,551,981

3,613,444

6,165,425

Profit for the year

454,182

454,182

At 31 May 2018

3,006,163

3,613,444

6,619,607

11.	ULTIMATE CONTROLLING PARTY

The controlling party is A E Brinner.