Darville and Son Limited Filleted accounts for Companies House (small and micro)
Darville and Son Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
00129612
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Statement of Financial Position |
2020 |
2019 |
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Note |
£ |
£ |
£ |
Fixed Assets
Tangible assets |
5 |
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Investments |
6 |
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Current Assets
Stocks |
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Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net Current Assets |
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Total Assets Less Current Liabilities |
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Creditors: amounts falling due after more than one year |
9 |
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Provisions
Taxation including deferred tax |
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Net Assets |
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Capital and Reserves
Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Shareholders Funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
20 November 2020
, and are signed on behalf of the board by:
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Director |
Company registration number:
00129612
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Notes to the Financial Statements |
Year Ended 31 March 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kardelton House, Vansittart Estate, Arthur Road, Windsor, SL4 1SE, United Kingdom.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Tangible assets
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:
Fixtures & fittings |
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Depreciation is not provided on investment properties, which is in accordance to the Financial Reporting Standard for Smaller Entities (effective January 2008) but is a departure from the general requirements of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2019:
7
).
5.
Tangible assets
Fixtures and fittings |
Total |
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£ |
£ |
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Cost |
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At 1 April 2019 and 31 March 2020 |
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Depreciation |
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At 1 April 2019 |
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Charge for the year |
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At 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
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At 31 March 2019 |
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6.
Investments
Shares in group undertakings |
Investment properties |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 April 2019 and 31 March 2020 |
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Impairment |
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At 1 April 2019 and 31 March 2020 |
– |
– |
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Carrying amount |
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At 31 March 2020 |
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At 31 March 2019 |
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The investment properties held by the company were revalued at 31 March 2020 by the director, P E M Darville, at open market value.
The company owns 100% of the issued share capital of Great Park Properties Limited, a company incorporated in the United Kingdom, whose principal activity is that of property development and management.
7.
Debtors
2020 |
2019 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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8.
Creditors:
amounts falling due within one year
2020 |
2019 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Directors' loan account |
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Other creditors |
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9.
Creditors:
amounts falling due after more than one year
2020 |
2019 |
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£ |
£ |
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Bank loans and overdrafts |
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Bank loans are secured by fixed charges on investment properties.
10.
Related party transactions
Control: The company is controlled by P E M Darville and other family members who own the majority of the issued share capital. Related parties: At the year end the company was owed £297,527 (2019: £389,732) by its subsidiary undertaking, Great Park Properties Limited, shown within debtors. Included in other creditors are amounts totalling £145,000 (2019: £160,000) loaned to the company by the directors, Miss K L Darville, Mrs T G Dorney and Mrs D J La Corbiniere, and by Mrs L A Darville, the wife of the director,
Mr P E M Darville
. Interest is paid on the loans at the rate of 3.5% per annum above Bank of England Base Rate amounting to £6,561 (2019: £7,119). During the year the company paid dividends to the directors and their related parties amounting to £112,500 (2019: £112,500).