Deerbank Capital Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07714005 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2019

FOR

DEERBANK CAPITAL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A P Deering

REGISTERED OFFICE:

Midwest House

11 Crown Industrial Estate

Canal road

Timperley

Cheshire

WA14 1TF

REGISTERED NUMBER:

07714005 (England and Wales)

ACCOUNTANTS:

Kay Johnson Gee Limited

1 City Road East

Manchester

M15 4PN

FIXED ASSETS

Tangible assets

4

964,296

881,467

CURRENT ASSETS

Debtors

5

6,259

1,082

Cash at bank

12,299

24,166

18,558

25,248

CREDITORS

Amounts falling due within one year

6

(331,077

)

(257,509

)

NET CURRENT LIABILITIES

(312,519

)

(232,261

)

TOTAL ASSETS LESS CURRENT LIABILITIES

651,777

649,206

CREDITORS

Amounts falling due after more than one year

7

(278,259

)

(309,796

)

NET ASSETS

373,518

339,410

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

373,517

339,409

SHAREHOLDERS' FUNDS

373,518

339,410

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 12th May 2020 and were signed by:

A P Deering - Director

1.	STATUTORY INFORMATION

Deerbank Capital Limited, formerly Coleman Charles Properties Limited is a company limited by share capital,

incorporated in England and Wales, registration number 07714005. The address of the registered office is

Midwest House, 11 Crown Industrial Estate, Canal Road, Timperley, Cheshire, WA14 1TF.

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 is measured at the fair value of the consideration received or receivable. Turnover is presented net of

value-added-tax, rebates and discounts.

Rental income from operating leases (net of any incentives given to the lessee), is recognised on a straight line

basis over the term of the lease.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their

estimated useful lives, using the following methods:

Freehold property - 2% reducing balance basis

At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to

determine whether there is any indication that any items of tangible fixed assets have suffered an impairment

loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the

extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset,

the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of

the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account,

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 balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the

effective interest method, less impairment losses for bad and doubtful debts except where the effect of

discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for

bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the

effective interest method unless the effect of discounting would be immaterial, in which case they are stated

at cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1st August 2018

975,000

Additions

102,500

At 31st July 2019

1,077,500

DEPRECIATION

At 1st August 2018

93,533

Charge for year

19,671

At 31st July 2019

113,204

NET BOOK VALUE

At 31st July 2019

964,296

At 31st July 2018

881,467

Cost or valuation at 31st July 2019 is represented by:

Land and

buildings

£

Valuation in 2017

727,216

Valuation in 2018

247,784

Valuation in 2019

102,500

1,077,500

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

6,259

1,082

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

59,031

51,146

Trade creditors

26,818

8,966

Taxation and social security

16,429

2,987

Other creditors

228,799

194,410

331,077

257,509

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

278,259

309,796

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

337,290

360,942

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1

Ordinary

£1.00

1

1