Ron De Young Resources Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03602666 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Ron De Young Resources Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs M M De Young

SECRETARY:

Mrs N Griffiths

REGISTERED OFFICE:

1a Downside Road

Carshalton Beeches

Surrey

SM2 5HR

REGISTERED NUMBER:

03602666 (England and Wales)

ACCOUNTANTS:

Thornton Springer LLP

Chartered Accountants

67 Westow Street

Upper Norwood

London

SE19 3RW

FIXED ASSETS

Investments

4

3

3

Investment property

5

2,707,568

2,707,568

2,707,571

2,707,571

CURRENT ASSETS

Debtors

6

872,916

735,133

Cash at bank

659,079

578,477

1,531,995

1,313,610

CREDITORS

Amounts falling due within one year

7

(1,623,972

)

(1,605,549

)

NET CURRENT LIABILITIES

(91,977

)

(291,939

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,615,594

2,415,632

PROVISIONS FOR LIABILITIES

(193,950

)

(193,950

)

NET ASSETS

2,421,644

2,221,682

CAPITAL AND RESERVES

Called up share capital

200

200

Non-distributable reserves

1,129,434

1,129,434

Retained earnings

1,292,010

1,092,048

SHAREHOLDERS' FUNDS

2,421,644

2,221,682

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 20 August 2020 and were signed by:

Mrs M M De Young - Director

1.	STATUTORY INFORMATION

Ron De Young Resources Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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 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 2 (2018 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2019

and 31 December 2019

3

NET BOOK VALUE

At 31 December 2019

3

At 31 December 2018

3

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2019

and 31 December 2019

2,707,568

NET BOOK VALUE

At 31 December 2019

2,707,568

At 31 December 2018

2,707,568

The investment properties are valued annually by the directors on an open market existing use basis.

The historical cost of the investment properties amount to £1,384,184 (2018 - £1,384,184).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

27

20,646

Amounts owed by group undertakings

-

577

Other debtors

872,889

713,910

872,916

735,133

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

424

-

Taxation and social security

23,648

24,473

Other creditors

1,599,900

1,581,076

1,623,972

1,605,549