Derol Limited - Accounts to registrar (filleted) - small 18.2

Derol Limited - Accounts to registrar (filleted) - small 18.2

DEROL LIMITED - Company Information

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REGISTERED NUMBER: 07929599 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2020

FOR

DEROL LIMITED
DEROL LIMITED (REGISTERED NUMBER: 07929599)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DEROL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2020







DIRECTOR: A S C Singer





REGISTERED OFFICE: 59 Queen Elizabeths Walk
Stoke Newington
London
N16 5UG





REGISTERED NUMBER: 07929599 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL
Page 1
DEROL LIMITED (REGISTERED NUMBER: 07929599)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2020

31.1.20 31.1.19
Notes £    £   
FIXED ASSETS
Tangible assets 5 273 321
Investment property 6 364,488 364,488
364,761 364,809

CURRENT ASSETS
Cash at bank 2,202 2,058

CREDITORS
Amounts falling due within one year 7 (161,513 ) (162,277 )
NET CURRENT LIABILITIES (159,311 ) (160,219 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
205,450
204,590

PROVISIONS FOR LIABILITIES (17,887 ) (17,887 )
NET ASSETS 187,563 186,703

CAPITAL AND RESERVES
Called up share capital 8 1 1
Revaluation reserve 9 113,855 113,855
Retained earnings 9 73,707 72,847
SHAREHOLDERS' FUNDS 187,563 186,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
DEROL LIMITED (REGISTERED NUMBER: 07929599)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2020


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorized for issue by the director and authorised for issue on 30 September 2020 and were signed by:





A S C Singer - Director


The notes form part of these financial statements

Page 3
DEROL LIMITED (REGISTERED NUMBER: 07929599)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020

1. STATUTORY INFORMATION

Derol 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, 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 - 15% on reducing balance

Investment property
Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognised initially at cost.

Subsequent to initial recognition:
a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from change in fair value are recognised in profit or loss in the period that they arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


Page 4 continued...
DEROL LIMITED (REGISTERED NUMBER: 07929599)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2020

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 February 2019
and 31 January 2020 790
DEPRECIATION
At 1 February 2019 469
Charge for year 48
At 31 January 2020 517
NET BOOK VALUE
At 31 January 2020 273
At 31 January 2019 321

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2019
and 31 January 2020 364,488
NET BOOK VALUE
At 31 January 2020 364,488
At 31 January 2019 364,488

Investment property fair value is based on a valuation by an external, independent valuator, having an appropriate recognised professional qualification and recent experience in the location and class of the property being valued.

Any gain or loss arising from a change in fair value is recognised in profit or loss.

Page 5 continued...
DEROL LIMITED (REGISTERED NUMBER: 07929599)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2020

6. INVESTMENT PROPERTY - continued

Fair value at 31 January 2020 is represented by:

£   
Valuation in 2015 131,742
Cost 232,746
364,488

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.20 31.1.19
£    £   
Taxation and social security 475 262
Other creditors 161,038 162,015
161,513 162,277

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.1.20 31.1.19
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2019 72,847 113,855 186,702
Profit for the year 860 860
At 31 January 2020 73,707 113,855 187,562

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A S C Singer.

Page 6