Decorbar Limited - Accounts to registrar (filleted) - small 18.2

Decorbar Limited - Accounts to registrar (filleted) - small 18.2

DECORBAR LIMITED - Company Information

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REGISTERED NUMBER: 02874858 (England and Wales)















Financial Statements for the Year Ended 31 March 2020

for

Decorbar Limited
Decorbar Limited (Registered number: 02874858)

Contents of the Financial Statements
for the Year Ended 31 March 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Decorbar Limited

Company Information
for the Year Ended 31 March 2020







DIRECTORS: Mr K Patel
Mr M S Patel





REGISTERED OFFICE: 238 Station Road
Addlestone
Surrey
KT15 2PS





REGISTERED NUMBER: 02874858 (England and Wales)





ACCOUNTANTS: CSL Partnership Limited
Chartered Certified Accountants
238 Station Road
Addlestone
Surrey
KT15 2PS
Page 1
Decorbar Limited (Registered number: 02874858)

Balance Sheet
31 March 2020

31.3.20 31.3.19
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 2,000,000 2,001,940

CURRENT ASSETS
Debtors 5 6,620 54,739
Cash at bank 174,476 59,988
181,096 114,727
CREDITORS
Amounts falling due within one year 6 (190,199 ) (179,481 )
NET CURRENT LIABILITIES (9,103 ) (64,754 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,990,897 1,937,186

PROVISIONS FOR LIABILITIES (325,565 ) (325,565 )
NET ASSETS 1,665,332 1,611,621

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,665,232 1,611,521
SHAREHOLDERS' FUNDS 1,665,332 1,611,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2020 and
were signed on its behalf by:





Mr M S Patel - Director


The notes form part of these financial statements

Page 2
Decorbar Limited (Registered number: 02874858)

Notes to the Financial Statements
for the Year Ended 31 March 2020


1. STATUTORY INFORMATION

Decorbar 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue
Revenue is measured at fair value and represents revenues receivable under contracts net of value
added tax. Where contractual obligations have been partially performed at the balance sheet date,
revenue is recognised to the extent that the company has obtained the right to consideration through
its performance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet 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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

Page 3 continued...
Decorbar Limited (Registered number: 02874858)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020


4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Investment and
properties fittings Totals
£    £    £   
COST OR VALUATION
At 1 April 2019
and 31 March 2020 2,000,000 30,650 2,030,650
DEPRECIATION
At 1 April 2019 - 28,710 28,710
Charge for year - 1,940 1,940
At 31 March 2020 - 30,650 30,650
NET BOOK VALUE
At 31 March 2020 2,000,000 - 2,000,000
At 31 March 2019 2,000,000 1,940 2,001,940

Cost or valuation at 31 March 2020 is represented by:

Fixtures
Investment and
properties fittings Totals
£    £    £   
Valuation in 1995 124,932 - 124,932
Valuation in 2001 150,000 - 150,000
Valuation in 2004 377,000 - 377,000
Valuation in 2011 34,485 - 34,485
Valuation in 2016 1,085,391 - 1,085,391
Cost 228,192 30,650 258,842
2,000,000 30,650 2,030,650

If Investment property had not been revalued it would have been included at the following historical
cost:

31.3.20 31.3.19
£    £   
Cost 228,192 228,192

Investment property was valued on an open market basis on 31 March 2020 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Other debtors 6,620 53,712
Prepayments & accrued income - 1,027
6,620 54,739

Page 4 continued...
Decorbar Limited (Registered number: 02874858)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Tax 13,054 1,777
Other creditors 175,000 175,000
Accruals & prepaid income 2,145 2,704
190,199 179,481

7. RELATED PARTY DISCLOSURES

The directors consider that the company's ultimate parent company is Wisteria Investments Limited, a
company incorporated in Guernsey. Wisteria Investments Limited is controlled by a corporate trustee
which in turn is controlled by a private equity group which has no overall controlling party.

At the year end, the company owed Wisteria Investments Limited a sum of £175,000 (2019: £175,000).

8. NON-DISTRIBUTABLE RETAINED EARNINGS

At the year end, total retained earnings of £1,665,232 included non-distributable profits of £1,446,243.

Page 5