DELAMERE PROPERTY SERVICES LTD - Filleted accounts

DELAMERE PROPERTY SERVICES LTD - Filleted accounts

DELAMERE PROPERTY SERVICES LTD - Company Information

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Registered number
06492820
DELAMERE PROPERTY SERVICES LTD
Filleted Accounts
29 February 2020
DELAMERE PROPERTY SERVICES LTD
Registered number: 06492820
Balance Sheet
as at 29 February 2020
Notes 2020 2019
£ £
Fixed assets
Tangible assets 3 166 221
Current assets
Stocks 600 -
Debtors 4 - 4,500
Cash at bank and in hand 906 2,023
1,506 6,523
Creditors: amounts falling due within one year 5 (1,567) (2,656)
Net current assets (61) 3,867
Net assets 105 4,088
Capital and reserves
Called up share capital 100 100
Profit and loss account 5 3,988
Shareholders' funds 105 4,088
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr K Sheedy
Director
Approved by the board on 19 November 2020
DELAMERE PROPERTY SERVICES LTD
Notes to the Accounts
for the year ended 29 February 2020
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 25% per annum reducing balance basis
Stock and work in progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
The company did not operate a pension scheme during the year.
2 Employees 2020 2019
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2019 1,138
At 29 February 2020 1,138
Depreciation
At 1 March 2019 917
Charge for the year 55
At 29 February 2020 972
Net book value
At 29 February 2020 166
At 28 February 2019 221
4 Debtors 2020 2019
£ £
Trade debtors and prepayments - 4,500
5 Creditors: amounts falling due within one year 2020 2019
£ £
Trade creditors and accruals 1,200 678
Other taxes and social security costs 33 27
Other creditors - director's loan account 334 1,951
1,567 2,656
6 Events after the reporting date
There were no events after the reporting date which would affect the user's understanding of these accounts.
7 Contingent liabilities
There were no contingent liabilities in existence at the year end.
8 Controlling party
The director, Mr K Sheedy, together with his spouse, owns 100% of the issued ordinary share capital of the company.
9 Other information
DELAMERE PROPERTY SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is:
24 Oswald Road
Chorlton Cum Hardy
Manchester
M21 9LP
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