D'amore Properties Ltd - Period Ending 2020-03-31
D'amore Properties Ltd - Period Ending 2020-03-31
Registration number:
D'amore Properties Ltd
for the
Year Ended 31 March 2020
D'amore Properties Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
D'amore Properties Ltd
Company Information
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Director |
Mrs FG Masters |
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Registered office |
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Accountants |
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D'amore Properties Ltd
(Registration number: 03345193)
Balance Sheet as at 31 March 2020
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2020 |
2019 |
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Fixed assets |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' deficit |
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D'amore Properties Ltd
(Registration number: 03345193)
Balance Sheet as at 31 March 2020
For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Director
D'amore Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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General information |
The company is a private company limited by share capital, incorporated in Other.
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on a going concern basis, which assumes that the company will continue to trade in operational existence for the foreseeable future. At 31 March 2019 the net current liabilities of £365,066 (2018 £364,585) and a net liabilities position of £54,278 (2018 £62,135). The director has considered the position of the company with respect to its obligations to ensure the business can continue in operational existence for the foreseeable future and confirm their approval to adopt the going concern basis for preparing the accounts.
The assumptions the director has made in reaching this conclusion may be summarised as follows:
-current liabilities include a directors loan of £374,954 (2019 £373,664). The director will not seek repayment of this loan until such times as the company has sufficient cash to repay this amount and
-the director is of the opinion that there is no reason to believe that the continued support of the company's bankers will not be forthcoming as the company has always operated within the agreed facilities.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentation currency of the financial statements is Pound Sterling (£).
D'amore Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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Accounting policies (continued) |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Investment property
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
D'amore Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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Accounting policies (continued) |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Financial instruments
Classification
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Investment properties |
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2020 |
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At 1 April 2018 |
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At 31 March 2019 |
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Investment property was valued on an open market basis on 31 March 2019 by the directors.
D'amore Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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Investments |
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2020 |
2019 |
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Investments in subsidiaries |
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Investments in associates |
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Subsidiaries |
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Cost or valuation |
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At 1 April 2019 |
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Provision |
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At 1 April 2019 |
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Provision |
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At 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
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At 31 March 2019 |
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The value of Subsidiaries is based on cost less impairment as valued by the director.
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Associates |
£ |
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Fair value |
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At 1 April 2019 |
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At 31 March 2020 |
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The value of Associates is based on cost less impairment as valued by the director.
D'amore Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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Investments (continued) |
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2019 |
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Subsidiary undertakings |
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Wells Holiday Park
England |
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Associates |
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Haybridge House
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Ordinary |
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England |
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Subsidiary undertakings |
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Wells Holiday Park Ltd The principal activity of Wells Holiday Park Ltd is |
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Associates |
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Wells Holiday Park and Cottages Ltd The principal activity of Wells Holiday Park and Cottages Ltd is |
D'amore Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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Debtors |
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2020 |
2019 |
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Trade debtors |
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Other debtors |
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D'amore Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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Creditors |
Creditors: amounts falling due within one year
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Note |
2020 |
2019 |
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Due within one year |
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Bank and directors loans |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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2020 |
2019 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
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2020 |
2019 |
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Non-current loans and borrowings |
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Bank borrowings |
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2020 |
2019 |
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Current loans and borrowings |
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Bank borrowings |
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