Dealmost Limited 31/03/2019 iXBRL

Dealmost Limited 31/03/2019 iXBRL

DEALMOST LIMITED - Company Information

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31/03/2019 2019-03-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2018-04-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 02998604 2018-04-01 2019-03-31 02998604 2019-03-31 02998604 2018-03-31 02998604 2017-04-01 2018-03-31 02998604 2018-03-31 02998604 2017-03-31 02998604 core:FurnitureFittingsToolsEquipment 2018-04-01 2019-03-31 02998604 bus:RegisteredOffice 2018-04-01 2019-03-31 02998604 bus:LeadAgentIfApplicable 2018-04-01 2019-03-31 02998604 bus:Director1 2018-04-01 2019-03-31 02998604 bus:Director2 2018-04-01 2019-03-31 02998604 core:LandBuildings core:OwnedOrFreeholdAssets 2018-03-31 02998604 core:LandBuildings core:LongLeaseholdAssets 2018-03-31 02998604 core:FurnitureFittingsToolsEquipment 2018-03-31 02998604 core:LandBuildings core:OwnedOrFreeholdAssets 2019-03-31 02998604 core:LandBuildings core:LongLeaseholdAssets 2019-03-31 02998604 core:FurnitureFittingsToolsEquipment 2019-03-31 02998604 core:AfterOneYear 2019-03-31 02998604 core:AfterOneYear 2018-03-31 02998604 core:WithinOneYear 2019-03-31 02998604 core:WithinOneYear 2018-03-31 02998604 core:RetainedEarningsAccumulatedLosses 2017-04-01 2018-03-31 02998604 core:RetainedEarningsAccumulatedLosses 2018-04-01 2019-03-31 02998604 core:LandBuildings core:OwnedOrFreeholdAssets 2018-04-01 2019-03-31 02998604 core:ShareCapital 2019-03-31 02998604 core:ShareCapital 2018-03-31 02998604 core:RetainedEarningsAccumulatedLosses 2019-03-31 02998604 core:RetainedEarningsAccumulatedLosses 2018-03-31 02998604 core:ShareCapital 2017-03-31 02998604 core:RetainedEarningsAccumulatedLosses 2017-03-31 02998604 core:LandBuildings core:OwnedOrFreeholdAssets 2018-03-31 02998604 core:LandBuildings core:LongLeaseholdAssets 2018-03-31 02998604 core:FurnitureFittingsToolsEquipment 2018-03-31 02998604 bus:SmallEntities 2018-04-01 2019-03-31 02998604 bus:AuditExempt-NoAccountantsReport 2018-04-01 2019-03-31 02998604 bus:FullAccounts 2018-04-01 2019-03-31 02998604 bus:SmallCompaniesRegimeForAccounts 2018-04-01 2019-03-31 02998604 bus:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31
Company registration number: 02998604
Dealmost Limited
Unaudited filleted financial statements
31 March 2019
Dealmost Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Dealmost Limited
Directors and other information
Director Chaskel Berger
Joseph Eichler
Company number 02998604
Registered office Unit 1, Grosvenor Way
London
E5 9ND
Accountants Rothfeld & Co
149A Stamford Hill
London
N16 5LL
Dealmost Limited
Statement of financial position
31 March 2019
2019 2018
Note £ £ £ £
Fixed assets
Tangible assets 5 18,931,324 19,107,992
_______ _______
18,931,324 19,107,992
Current assets
Debtors 6 12,675,258 12,314,274
Cash at bank and in hand 71,309 70,857
_______ _______
12,746,567 12,385,131
Creditors: amounts falling due
within one year 7 ( 1,546,688) ( 1,561,515)
_______ _______
Net current assets 11,199,879 10,823,616
_______ _______
Total assets less current liabilities 30,131,203 29,931,608
Creditors: amounts falling due
after more than one year 8 ( 21,573,643) ( 21,576,339)
Provisions for liabilities ( 656,349) ( 656,349)
_______ _______
Net assets 7,901,211 7,698,920
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 7,901,111 7,698,820
_______ _______
Shareholders funds 7,901,211 7,698,920
_______ _______
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 June 2020 , and are signed on behalf of the board by:
Chaskel Berger
Director
Company registration number: 02998604
Dealmost Limited
Statement of changes in equity
Year ended 31 March 2019
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2017 100 8,218,352 8,218,452
Profit/(loss) for the year ( 519,532) ( 519,532)
_______ _______ _______
Total comprehensive income for the year - ( 519,532) ( 519,532)
_______ _______ _______
At 31 March 2018 and 1 April 2018 100 7,698,820 7,698,920
Profit/(loss) for the year 202,291 202,291
_______ _______ _______
Total comprehensive income for the year - 202,291 202,291
_______ _______ _______
At 31 March 2019 100 7,901,111 7,901,211
_______ _______ _______
Dealmost Limited
Notes to the financial statements
Year ended 31 March 2019
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 1st Floor, Unit 1, Grosvenor Way, London, E5 9ND.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Staff costs
The average number of persons employed by the company during the year amounted to 16 (2018: 12 ).
The aggregate payroll costs incurred during the year were:
2019 2018
£ £
Wages and salaries 200,451 93,488
Social security costs 16,114 6,561
_______ _______
216,565 100,049
_______ _______
5. Tangible assets
Freehold property Long leasehold property Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 April 2018 9,989,430 9,111,896 17,612 19,118,938
Additions 60,000 - - 60,000
Disposals ( 235,000) - - ( 235,000)
_______ _______ _______ _______
At 31 March 2019 9,814,430 9,111,896 17,612 18,943,938
_______ _______ _______ _______
Depreciation
At 1 April 2018 - - 10,946 10,946
Charge for the year - - 1,668 1,668
_______ _______ _______ _______
At 31 March 2019 - - 12,614 12,614
_______ _______ _______ _______
Carrying amount
At 31 March 2019 9,814,430 9,111,896 4,998 18,931,324
_______ _______ _______ _______
At 31 March 2018 9,989,430 9,111,896 6,666 19,107,992
_______ _______ _______ _______
6. Debtors
2019 2018
£ £
Trade debtors 476,615 481,598
Other debtors 12,198,643 11,832,676
_______ _______
12,675,258 12,314,274
_______ _______
7. Creditors: amounts falling due within one year
2019 2018
£ £
Bank loans and overdrafts 54,840 35,256
Trade creditors 46,317 50,540
Corporation tax 141,363 180,670
Social security and other taxes 83,372 47,689
Other creditors 1,220,796 1,247,360
_______ _______
1,546,688 1,561,515
_______ _______
8. Creditors: amounts falling due after more than one year
2019 2018
£ £
Bank loans and overdrafts 57,819 86,825
Amounts owed to group undertakings and undertakings in which the company has a participating interest 21,515,824 21,489,514
_______ _______
21,573,643 21,576,339
_______ _______