The Dales Management Company Limited - Accounts to registrar (filleted) - small 18.2

The Dales Management Company Limited - Accounts to registrar (filleted) - small 18.2

THE DALES MANAGEMENT COMPANY LIMITED - Company Information

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REGISTERED NUMBER: 06512136 (England and Wales)















Financial Statements for the Year Ended 29 February 2020

for

The Dales Management Company Limited
The Dales Management Company Limited (Registered number: 06512136)






Contents of the Financial Statements
for the Year Ended 29 February 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Dales Management Company Limited

Company Information
for the Year Ended 29 February 2020







DIRECTOR: J A Youds





REGISTERED OFFICE: 116 Duke Street
Liverpool
Merseyside
L1 5JW





REGISTERED NUMBER: 06512136 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW
Page 1
The Dales Management Company Limited (Registered number: 06512136)

Balance Sheet
29 February 2020

29.2.20 28.2.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 409,193 408,689

CURRENT ASSETS
Debtors 5 6,794 4,128
Cash at bank 1,246 3,569
8,040 7,697
CREDITORS
Amounts falling due within one year 6 423,240 418,633
NET CURRENT LIABILITIES (415,200 ) (410,936 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(6,007
)
(2,247
)

PROVISIONS FOR LIABILITIES 17,715 11,078
NET LIABILITIES (23,722 ) (13,325 )

CAPITAL AND RESERVES
Called up share capital 2 1
Retained earnings (23,724 ) (13,326 )
SHAREHOLDERS' FUNDS (23,722 ) (13,325 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 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 director and authorised for issue on 13 November 2020 and were signed by:



J A Youds - Director


The notes form part of these financial statements

Page 2
The Dales Management Company Limited (Registered number: 06512136)

Notes to the Financial Statements
for the Year Ended 29 February 2020

1. STATUTORY INFORMATION

The Dales Management Company 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. 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.

Despite the current liability position of the company it os still considered a going concern due to ongoing continued support from the director.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is derived from ordinary activities and represents rental income, exclusive of value added tax and is recognised in the accounts as the service is provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - No depreciation charged
Plant and machinery etc - 15% on reducing balance and No depreciation charged

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand) and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

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.


Page 3 continued...
The Dales Management Company Limited (Registered number: 06512136)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2020

2. ACCOUNTING POLICIES - continued
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 1 (2019 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2019 142,634 271,742 414,376
Additions - 3,477 3,477
At 29 February 2020 142,634 275,219 417,853
DEPRECIATION
At 1 March 2019 - 5,687 5,687
Charge for year - 2,973 2,973
At 29 February 2020 - 8,660 8,660
NET BOOK VALUE
At 29 February 2020 142,634 266,559 409,193
At 28 February 2019 142,634 266,055 408,689

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.20 28.2.19
£    £   
Amounts owed by associates 3,500 1,700
Other debtors 3,294 2,428
6,794 4,128

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.20 28.2.19
£    £   
Bank loans and overdrafts 50 47
Trade creditors 58,858 56,564
Amounts owed to associates - 18,100
Other creditors 364,332 343,922
423,240 418,633

Page 4 continued...
The Dales Management Company Limited (Registered number: 06512136)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2020

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Mr J Youds the director, operates a current account to which transactions of a private nature are charged. Included in other creditors as at 29th February 2020 is £363,082 (2019 £281,861) owed from the company. The loan is repayable on demand and includes interest at 1.88%.

8. RELATED PARTY DISCLOSURES

Included in other debtors as at 29th February 2020 is £4,160 owed from related parties. The loans are repayable on demand and interest free.

Page 5