Deerlane Limited 30/09/2020 iXBRL

Deerlane Limited 30/09/2020 iXBRL

DEERLANE LIMITED - Company Information

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0 30/09/2020 2020-09-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2019-10-01 Sage Accounts Production 20.0 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 03302762 2019-10-01 2020-09-30 03302762 2020-09-30 03302762 2019-09-30 03302762 2018-10-01 2019-09-30 03302762 2019-09-30 03302762 bus:Director2 2019-10-01 2020-09-30 03302762 core:FurnitureFittingsToolsEquipment 2019-09-30 03302762 core:FurnitureFittingsToolsEquipment 2020-09-30 03302762 core:WithinOneYear 2020-09-30 03302762 core:WithinOneYear 2019-09-30 03302762 core:ShareCapital 2020-09-30 03302762 core:ShareCapital 2019-09-30 03302762 core:RetainedEarningsAccumulatedLosses 2020-09-30 03302762 core:RetainedEarningsAccumulatedLosses 2019-09-30 03302762 core:FurnitureFittingsToolsEquipment 2019-10-01 2020-09-30 03302762 core:FurnitureFittingsToolsEquipment 2019-09-30 03302762 bus:SmallEntities 2019-10-01 2020-09-30 03302762 bus:AuditExempt-NoAccountantsReport 2019-10-01 2020-09-30 03302762 bus:FullAccounts 2019-10-01 2020-09-30 03302762 bus:SmallCompaniesRegimeForAccounts 2019-10-01 2020-09-30 03302762 bus:PrivateLimitedCompanyLtd 2019-10-01 2020-09-30
Company registration number: 03302762
Deerlane Limited
Unaudited filleted financial statements
30 September 2020
Deerlane Limited
Contents
Statement of financial position
Notes to the financial statements
Deerlane Limited
Statement of financial position
30 September 2020
2020 2019
Note £ £ £ £
Fixed assets
Tangible assets 5 146 172
_______ _______
146 172
Current assets
Stocks 3,286 3,225
Debtors 6 384 175
Cash at bank and in hand 15,086 34,712
_______ _______
18,756 38,112
Creditors: amounts falling due
within one year 7 ( 28,910) ( 43,900)
_______ _______
Net current liabilities ( 10,154) ( 5,788)
_______ _______
Total assets less current liabilities ( 10,008) ( 5,616)
_______ _______
Net liabilities ( 10,008) ( 5,616)
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account ( 10,010) ( 5,618)
_______ _______
Shareholders deficit ( 10,008) ( 5,616)
_______ _______
For the year ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 February 2021 , and are signed on behalf of the board by:
Mr Malcolm Hutchinson
Director
Company registration number: 03302762
Deerlane Limited
Notes to the financial statements
Year ended 30 September 2020
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Deerlane Limited, C/o The Humber Cruising Association Limited, Humber Bank South, Grimsby, North East Lincolnshire, DN31 3SD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represent the total of bar takings and other receipts during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fittings fixtures and equipment - 15% Reducing balance and 25% Straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2019: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 October 2019 and 30 September 2020 7,529 7,529
_______ _______
Depreciation
At 1 October 2019 7,357 7,357
Charge for the year 26 26
_______ _______
At 30 September 2020 7,383 7,383
_______ _______
Carrying amount
At 30 September 2020 146 146
_______ _______
At 30 September 2019 172 172
_______ _______
6. Debtors
2020 2019
£ £
Trade debtors 145 175
Other debtors 239 -
_______ _______
384 175
_______ _______
7. Creditors: amounts falling due within one year
2020 2019
£ £
Trade creditors 1,095 2,214
Amounts owed to group undertakings and undertakings in which the company has a participating interest 26,945 40,846
Other creditors 870 840
_______ _______
28,910 43,900
_______ _______
8. Controlling party
The company is a wholly owned subsidiary of The Humber Cruising Association Limited.