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

REGISTERED NUMBER: 05403077 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

DAYSHIELD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D J Mair

SECRETARY:

D J Mair

REGISTERED OFFICE:

Hadrian House

Front Street

Chester le Street

County Durham

DH3 3DB

REGISTERED NUMBER:

05403077 (England and Wales)

ACCOUNTANTS:

Robson Laidler (Durham) Limited

Accountants

Hadrian House

Front Street

Chester le Street

County Durham

DH3 3DB

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

340,000

345,000

340,000

345,000

CURRENT ASSETS

Cash at bank

3,979

1,420

CREDITORS

Amounts falling due within one year

6

122,703

110,900

NET CURRENT LIABILITIES

(118,724

)

(109,480

)

TOTAL ASSETS LESS CURRENT LIABILITIES

221,276

235,520

CREDITORS

Amounts falling due after more than one year

7

77,112

103,063

NET ASSETS

144,164

132,457

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

9

143,964

132,257

144,164

132,457

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 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 and authorised for issue on 20 July 2020 and were signed by:

D J Mair - Director

1.	STATUTORY INFORMATION

Dayshield 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 (£).

Rounding is to the nearest whole pound.

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, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

1,821

DEPRECIATION

At 1 April 2019

and 31 March 2020

1,821

NET BOOK VALUE

At 31 March 2020

-

5.	INVESTMENT PROPERTY

The director considers that the valuation of the investment properties, which is held to earn rentals

and/or capital appreciation, is measured using the fair value model at the Balance Sheet date. The

surplus or deficit on revaluation is recognised in the statement of income.

The original cost of investment properties is £326,102.

Fair value at 31 March 2020 is represented by:

£

Valuation in 2019

18,898

Valuation in 2020

(5,000

)

Cost

326,102

340,000

The investment properties have been recorded at the year end date at fair value as assessed by the

Director.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

24,077

22,200

Taxation and social security

10,437

11,051

Other creditors

88,189

77,649

122,703

110,900

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

77,112

103,063

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

101,189

125,263

Loan finance has been provided by Bank of Scotland. The loan finance and subsequent interest

payments have been secured against the assets of the company by way of a fixed and floating charge.

9.

RESERVES

Within the profit and loss account reserve there is a non-distributable element relating to fair value

adjustments, which are made up of unrealised fair value revaluations less any deferred tax liability on

those revaluations.

2020

2019

£

£

Realised distributable reserves

130,066

113,359

Unrealised non-distributable reserves

13,898

18,898

143,964

132,257