Francis David Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08007833 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2020

for

Francis David Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N D Grimshaw

J F Daly

REGISTERED OFFICE:

Chartered House

Axis Court

Nepshaw Lane South

Leeds

West Yorkshire

LS27 7UY

REGISTERED NUMBER:

08007833 (England and Wales)

ACCOUNTANTS:

Equate Limited

Chartered Certified Accountants

17 Appleton Court

Calder Park

Wakefield

West Yorkshire

WF2 7AR

FIXED ASSETS

Tangible assets

4

8,357

9,832

Investment property

5

288,398

288,398

296,755

298,230

CURRENT ASSETS

Debtors

6

4,444

914

Cash at bank

35,282

15,878

39,726

16,792

CREDITORS

Amounts falling due within one year

7

31,674

30,047

NET CURRENT ASSETS/(LIABILITIES)

8,052

(13,255

)

TOTAL ASSETS LESS CURRENT LIABILITIES

304,807

284,975

CREDITORS

Amounts falling due after more than one year

8

(90,396

)

(108,068

)

PROVISIONS FOR LIABILITIES

(1,588

)

(1,868

)

NET ASSETS

212,823

175,039

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

212,821

175,037

SHAREHOLDERS' FUNDS

212,823

175,039

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 directors acknowledge their 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 Board of Directors and authorised for issue on 27 April 2020 and were signed on its behalf by:

N D Grimshaw - Director

1.	STATUTORY INFORMATION

Francis David 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.

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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.

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 NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2019

and 31 March 2020

26,191

DEPRECIATION

At 1 April 2019

16,359

Charge for year

1,475

At 31 March 2020

17,834

NET BOOK VALUE

At 31 March 2020

8,357

At 31 March 2019

9,832

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

and 31 March 2020

288,398

NET BOOK VALUE

At 31 March 2020

288,398

At 31 March 2019

288,398

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

2,835

-

Prepayments and accrued income

1,609

914

4,444

914

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Other loans

17,672

16,961

Trade creditors

1,441

(1

)

Tax

9,143

9,885

VAT

368

1,123

Accruals and deferred income

3,050

2,079

31,674

30,047

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Other loans - 1-2 years

18,412

17,672

Other loans - 2-5 years

71,984

90,396

90,396

108,068

9.	ULTIMATE CONTROLLING PARTY

The company is under the joint control of GHLTD Investments Limited and Daly Investments Limited.