Donald Peel Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06617298 (England and Wales)

Unaudited Financial Statements

for the Period 1 July 2019 to 31 December 2019

for

Donald Peel Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr D Peel

SECRETARY:

Mr P Keegan

REGISTERED OFFICE:

C/o Fraser Brown

84 Friar Lane

Nottingham

NG1 6ED

REGISTERED NUMBER:

06617298 (England and Wales)

ACCOUNTANTS:

Franklin Underwood

1 Pinnacle Way

Pride Park

Derby

Derbyshire

DE24 8ZS

CURRENT ASSETS

Debtors

5

508,997

477,210

Cash at bank

63,884

57,441

572,881

534,651

CREDITORS

Amounts falling due within one year

6

76,495

58,118

NET CURRENT ASSETS

496,386

476,533

TOTAL ASSETS LESS CURRENT LIABILITIES

496,386

476,533

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

496,385

476,532

SHAREHOLDERS' FUNDS

496,386

476,533

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2019 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 6 February 2020 and were signed by:

Mr D Peel - Director

1.	STATUTORY INFORMATION

Donald Peel Limited 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.

Turnover

Turnover represents the company's share of the profits of the partnership, Fraser Brown Solicitors.

Goodwill

Purchased goodwill is amortised at rates calculated to write off the assets on a straight line basis over their

estimated useful economic lives as follows:

Goodwill - ten years

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2019 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2019

and 31 December 2019

222,106

AMORTISATION

At 1 July 2019

and 31 December 2019

222,106

NET BOOK VALUE

At 31 December 2019

-

At 30 June 2019

-

Goodwill arose on the purchase of the company's share in Fraser Brown Solicitors.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2019

£

£

Due from Fraser Brown Solicitors

200,190

273,694

Directors' current accounts

308,807

203,516

508,997

477,210

Other than as stated under directors loan account above, none of the above amounts related to amounts due from

the director or shareholder of the company either directly or indirectly.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2019

£

£

Tax

74,260

57,350

Accruals and deferred income

2,235

768

76,495

58,118

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2019

value:

£

£

1

Ordinary

£1

1

1

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 December 2019 and the

year ended 30 June 2019:

2019

2019

£

£

Mr D Peel

Balance outstanding at start of period

203,515

184,049

Amounts advanced

159,175

203,785

Amounts repaid

(53,883

)

(184,319

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

308,807

203,515

The director's loan account was repaid within nine months of the period end. Interest was charged on the

overdrawn director's loan account at HM Revenue & Customs official rate of interest during the year being 2.5%

per annum.