Dalby's Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 428913

Dalby's Limited

Filleted Unaudited Abridged Financial Statements

31 July 2020

Dalby's Limited

Abridged Statement of Financial Position

31 July 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	4		350,000	350,000

Current assets

Debtors	131,531	132,123
Cash at bank and in hand	55,961	192,334
	---------	---------
	187,492	324,457

Creditors: amounts falling due within one year	6,657		47,996
	---------		---------
Net current assets		180,835	276,461
		---------	---------
Total assets less current liabilities		530,835	626,461
		---------	---------
Net assets		530,835	626,461
		---------	---------

Capital and reserves

Called up share capital	100	100
Non distributable reserves	333,448	333,448
Profit and loss account	197,287	292,913
	---------	---------
Shareholders funds	530,835	626,461
	---------	---------

These abridged 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 abridged statement of comprehensive income has not been delivered.

For the year ending 31 July 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 abridged 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 abridged financial statements .

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 July 2020 in accordance with Section 444(2A) of the Companies Act 2006.

Dalby's Limited

Abridged Statement of Financial Position (continued)

31 July 2020

These abridged financial statements were approved by the board of directors and authorised for issue on 23 March 2021 , and are signed on behalf of the board by:

NG Silverstein

Director

Company registration number: 428913

Dalby's Limited

Notes to the Abridged Financial Statements

Year ended 31 July 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 268/270 London Road, Westcliff on sea, Essex, SS0 7JG.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

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 at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Tangible assets

	£
Cost
At 1 August 2019 and 31 July 2020	350,000
	---------
Depreciation
At 1 August 2019 and 31 July 2020	–
	---------
Carrying amount
At 31 July 2020	350,000
	---------
At 31 July 2019	350,000
	---------

5. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2020
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
AM & NG Silverstein	( 5,157)	( 900)	( 6,057)
	-------	----	-------

	2019
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
AM & NG Silverstein	( 6,144)	987	( 5,157)
	-------	----	-------

6. Related party transactions

The company was under the control of Mrs NG Silverstein throughout the current and previous year in her capacity as the managing director and majority shareholder. During the year the company charged rent of £12,500 (2019: £12,500) and paid management charges of £5,000 (2019: £5,000) to a related party.