Darlow Lettings Ltd - Accounts to registrar (filleted) - small 18.2

Darlow Lettings Ltd - Accounts to registrar (filleted) - small 18.2

OAKLOW GROUP DARLOW LETTINGS LTD - Company Information

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REGISTERED NUMBER: 11210386 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2020

FOR

DARLOW LETTINGS LTD
DARLOW LETTINGS LTD (REGISTERED NUMBER: 11210386)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DARLOW LETTINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2020







DIRECTOR: R J Darlow





REGISTERED OFFICE: Regus-Victoria House
400 Pavilion Drive
Northampton
NN4 7PA





REGISTERED NUMBER: 11210386 (England and Wales)





ACCOUNTANTS: Bewers Turner & Co LLP
Chartered Accountants
Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH
Page 1
DARLOW LETTINGS LTD (REGISTERED NUMBER: 11210386)

BALANCE SHEET
29TH FEBRUARY 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2 2
Investment property 5 1,275,000 1,275,000
1,275,002 1,275,002

CURRENT ASSETS
Debtors 6 6,975 -
Cash at bank 8,512 6,222
15,487 6,222
CREDITORS
Amounts falling due within one year 7 310,099 302,849
NET CURRENT LIABILITIES (294,612 ) (296,627 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
980,390
978,375

CREDITORS
Amounts falling due after more than one
year
8
976,716
975,375
NET ASSETS 3,674 3,000

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 3,672 2,998
3,674 3,000

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

The members have not required the company to obtain an audit of its financial statements for the year ended 29th 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 Statement of Income and Retained Earnings has not been delivered.

The notes form part of these financial statements

Page 2 continued...
DARLOW LETTINGS LTD (REGISTERED NUMBER: 11210386)

BALANCE SHEET - continued
29TH FEBRUARY 2020



The financial statements were approved by the director and authorised for issue on 8th December 2020 and were signed by:





R J Darlow - Director


The notes form part of these financial statements

Page 3
DARLOW LETTINGS LTD (REGISTERED NUMBER: 11210386)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2020


1. STATUTORY INFORMATION

Darlow Lettings 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.

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis not withstanding that at 29 February 2020 the company had net current liabilities of £294,612 (2019: £296,625). The director believes this basis to be appropriate and will continue to provide funds as necessary for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 is party to only basic financial instruments such as cash, trade debtors and creditors and loans. Instruments such as trade debtors and trade creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate.

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 balance sheet date.


Page 4 continued...
DARLOW LETTINGS LTD (REGISTERED NUMBER: 11210386)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH 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. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st March 2019
and 29th February 2020 2
NET BOOK VALUE
At 29th February 2020 2
At 28th February 2019 2

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st March 2019
and 29th February 2020 1,275,000
NET BOOK VALUE
At 29th February 2020 1,275,000
At 28th February 2019 1,275,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other debtors 6,975 -

Page 5 continued...
DARLOW LETTINGS LTD (REGISTERED NUMBER: 11210386)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2020


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Amounts owed to group undertakings - 301,245
Taxation and social security 160 703
Other creditors 309,939 901
310,099 302,849

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2020 2019
£    £   
Bank loans 976,716 975,375

9. SECURED DEBTS

The following secured debts are included within creditors:

2020 2019
£    £   
Bank loans 976,716 975,375

Bank loans are secured against the properties owned by the company.

10. RELATED PARTY DISCLOSURES

All material related party transactions with owners holding a participating interest, companies in which the entity has a participating interest and directors were all concluded under normal market conditions.

Page 6