Dealistic Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03952419 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2020

FOR

DEALISTIC LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

S J W Austin

Mrs L J Austin

SECRETARY:

S J W Austin

REGISTERED OFFICE:

26-28 Aubrey Street

Hereford

HR4 0BU

REGISTERED NUMBER:

03952419 (England and Wales)

ACCOUNTANTS:

D.R.E. & Co. Limited

Chartered Accountants

Number 5

The Business Quarter

Eco Park Road

Ludlow

Shropshire

SY8 1FD

FIXED ASSETS

Tangible assets

5

153

204

Investment property

6

435,704

435,704

435,857

435,908

CURRENT ASSETS

Debtors

7

6,866

16,219

Cash at bank

11,288

70

18,154

16,289

CREDITORS

Amounts falling due within one year

8

35,202

37,916

NET CURRENT LIABILITIES

(17,048

)

(21,627

)

TOTAL ASSETS LESS CURRENT LIABILITIES

418,809

414,281

CREDITORS

Amounts falling due after more than one year

9

(146,372

)

(160,248

)

PROVISIONS FOR LIABILITIES

(29

)

(35

)

NET ASSETS

272,408

253,998

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

272,406

253,996

SHAREHOLDERS' FUNDS

272,408

253,998

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 14 December 2020 and were signed on its behalf by:

S J W Austin - Director

Mrs L J Austin - Director

1.	STATUTORY INFORMATION

Dealistic 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention. The accounts have been prepared on a going concern basis.

The financial statements are prepared in Sterling (£) rounded to the nearest £1.

Turnover

Turnover represents rental and service charges for the year, invoiced in accordance with customer agreements, excluding value added tax.

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 has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 May 2019

and 30 April 2020

11,444

DEPRECIATION

At 1 May 2019

11,240

Charge for year

51

At 30 April 2020

11,291

NET BOOK VALUE

At 30 April 2020

153

At 30 April 2019

204

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2019

and 30 April 2020

435,704

NET BOOK VALUE

At 30 April 2020

435,704

At 30 April 2019

435,704

Investment property has been included at historical cost following its acquisition in January 2005. The directors are of the opinion that any difference between the historic cost and the open market value at 30th April 2020 would not be material.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

4,426

3,445

Prolease Ltd Loan

1,811

7,211

VAT

-

161

Prepayments

629

5,402

6,866

16,219

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Bank loans and overdrafts

22,824

22,824

Trade creditors

1,496

9,632

Tax

4,505

2,206

VAT

1,112

-

Other creditors

744

1,152

Accruals and deferred income

-

2

Accrued expenses

4,521

2,100

35,202

37,916

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.20

30.4.19

£

£

Mortgage

91,294

91,294

Mortgage

55,078

68,954

146,372

160,248

Amounts falling due in more than five years:

Repayable by instalments

Mortgage

55,078

68,954

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.20

30.4.19

£

£

Bank loans

169,196

183,072

Bank borrowings are secured by a fixed charge over the investment property of the company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dealistic Ltd for the year ended 30 April 2020 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Dealistic Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Dealistic Ltd and state those matters that we have agreed to state to the Board of Directors of Dealistic Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dealistic Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Dealistic Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dealistic Ltd. You consider that Dealistic Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Dealistic Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

D.R.E. & Co. Limited

Chartered Accountants

Number 5

The Business Quarter

Eco Park Road

Ludlow

Shropshire

SY8 1FD

18 December 2020