D&C Perkins Properties Ltd - Accounts

D&C Perkins Properties Ltd - Accounts

D&C PERKINS PROPERTIES LTD - Company Information

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Registered Number: 10481004
England and Wales

 

 

 

D&C PERKINS PROPERTIES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2017

End date: 30 November 2018

D&C Perkins Properties Ltd
Contents Page
For the year ended 30 November 2018
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of D&C Perkins Properties Ltd for the year ended 30 November 2018 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of D&C Perkins Properties 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 D&C Perkins Properties Ltd and state those matters that we have agreed to state to the Board of D&C Perkins Properties Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D&C Perkins Properties Ltd and its members as a body for our work or for this report.

It is your duty to ensure that D&C Perkins Properties 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 Profit of D&C Perkins Properties Ltd. You consider that D&C Perkins Properties 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 D&C Perkins Properties 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.



....................................................
Allazo Ltd
2 Claridge Court
Lower Kings Road
Berkhamsted
Hertfordshire
HP4 2AF
27 August 2019
1
 
 		 Notes
 		 2018
£		   2017
£
Fixed assets      
Investments 2 1,285,000    1,285,000 
1,285,000    1,285,000 
Current assets      
Debtors: amounts falling due within one year -    12,060 
Cash at bank and in hand 13,440    7,326 
13,440    19,386 
Creditors: amount falling due within one year (458,011)   (466,012)
Net current assets (444,571)   (446,626)
 
Total assets less current liabilities 840,429    838,374 
Creditors: amount falling due after more than one year (835,709)   (862,829)
Provisions for liabilities 9,500    9,500 
Net assets 14,220    (14,955)
 

Capital and reserves 		     
Called up share capital 3 100    100 
Profit and loss account 14,120    (15,055)
Shareholders funds 14,220    (14,955)
 


For the year ended 30 November 2018 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
Signed on behalf of the board of director


--------------------------------
Darren Perkins
Director

Date approved by the board: 27 August 2019
2
General Information
D&C Perkins Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 10481004, registration address Unit 2D Tomo Industrial Estate, Packet Boat Lane, Uxbridge, UB8 2JP.

The presentation currency is £ sterling
1.

Accounting Policies

Significant accounting policies
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

The company has taken advantage of the following disclosure exemptions with FRS 102 Section 1A:
  • The requirement to present a statement of cash flows and related notes
  • Financial instrument disclosures, including;
    categories of financial instruments, items of income, expenses, gains or losses relating to financial instruments, and exposure to and management of financial risks. 
Going concern basis
The financial statements have been prepared on a going concern basis. The companys forecasts and projections, taking into account potential changes in trading patterns, indicate that the company will be able to continue current operations for the foreseeable future. 
Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover includes revenue earned from the the rental of property, the policies adopted are as follows:
  • Rental of Property:  Turnover from the rental of property is recognised on an accrual basis in line with the contract in place with the tenant.  Rents are recognised when due for payment. 
  • Other revenue:  Recognition is when it is received or when the right to receive payment is established.
Deferred taxation
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.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the company has legal right to set off against current tax liabilities and if they both relate to income tax levied by the same taxation authority on the same entity.
Investment properties
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to the profit and loss account via Fair Value Adjustment.   
Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.  Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 December 2017 1,285,000    1,285,000 
Additions -    - 
Disposals -    - 
At 30 November 2018 1,285,000    1,285,000 
Other Investments consists of Investment Property owned by the company.  The director has revalued the properties to their Fair Value at the year end using his skill and judgement along with relevant research on the matter.  There is no need for revaluation in the current year. 

3.

Share Capital

Allotted
2018
£		   2017
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

4.

Staff Costs

     
The company did not employ any members of staff.

5.

Related parties

The company owed it's shareholders £439,468 at the year end (2017, £456,365) by way of interest free loan, payable on demand. 
3