D A M PROPERTIES LIMITED - Accounts to registrar (filleted) - small 18.2
D A M PROPERTIES LIMITED - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 29 February 2020 |
| for |
| D A M PROPERTIES LIMITED |
| D A M PROPERTIES LIMITED (Registered number: 03314883) |
| Contents of the Financial Statements |
| for the Year Ended 29 February 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| D A M PROPERTIES LIMITED |
| Company Information |
| for the Year Ended 29 February 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Landmark House |
| Station Rd |
| Cheadle Hulme |
| Cheshire |
| SK8 7BS |
| D A M PROPERTIES LIMITED (Registered number: 03314883) |
| Balance Sheet |
| 29 February 2020 |
| 29.2.20 | 28.2.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Undistributable reserves | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| 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. |
| D A M PROPERTIES LIMITED (Registered number: 03314883) |
| Balance Sheet - continued |
| 29 February 2020 |
| 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 |
| D A M PROPERTIES LIMITED (Registered number: 03314883) |
| Notes to the Financial Statements |
| for the Year Ended 29 February 2020 |
| 1. | STATUTORY INFORMATION |
| D A M PROPERTIES LIMITED is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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. |
| 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. |
| D A M PROPERTIES LIMITED (Registered number: 03314883) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 February 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Investment properties |
| Investment properties are held for their investment potential and are shown at their open market value and are not depreciated. |
| Surplus or deficit arising from the annual revaluation is transferred to the revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 March 2019 |
| Reclassification/transfer | ( |
) | ( |
) |
| At 29 February 2020 |
| DEPRECIATION |
| At 1 March 2019 |
| Charge for year |
| At 29 February 2020 |
| NET BOOK VALUE |
| At 29 February 2020 |
| At 28 February 2019 |
| The land and buildings represent investment properties which are stated at a valuation of £151,120 and are not depreciated. The investment properties have been valued during the year by the directors at open market value. |
| The historical cost of these properties is £151,120 (2017 - £151,120). |
| D A M PROPERTIES LIMITED (Registered number: 03314883) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 February 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| Revaluations | 323,880 |
| Reclassification/transfer | 151,120 |
| At 29 February 2020 |
| NET BOOK VALUE |
| At 29 February 2020 |
| Fair value at 29 February 2020 is represented by: |
| £ |
| Valuation in 2020 | 323,880 |
| Valuation in 2015 | 30,494 |
| Cost | 120,626 |
| 475,000 |
| If Investment property had not been revalued it would have been included at the following historical cost: |
| 29.2.20 | 28.2.19 |
| £ | £ |
| Cost | 151,120 | 151,120 |
| Investment property was valued on an open market basis on 29 February 2020 by the directors . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 29.2.20 | 28.2.19 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 29.2.20 | 28.2.19 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| D A M PROPERTIES LIMITED (Registered number: 03314883) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 February 2020 |
| 8. | SECURED DEBTS |
| The bank loans and overdraft are secured by a charge against the investment properties. |
| 9. | RESERVES |
| Retained | Undistributable |
| earnings | reserves | Totals |
| £ | £ | £ |
| At 1 March 2019 | 136,198 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Revaluation | - | 323,880 | 323,880 |
| Deferred Tax on Revaluation | - | (61,537 | ) | (61,537 | ) |
| At 29 February 2020 | 410,693 |
| 10. | ULTIMATE CONTROLLING PARTY |
| During the current, and previous, year there was no ultimate controlling party. |