Delvehill Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01930930 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

DELVEHILL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

J Taylor

Mrs L B Taylor

A D Halstead

REGISTERED OFFICE:

Pyle House

136/137 Pyle Street

Newport

Isle of Wight

PO30 1JW

REGISTERED NUMBER:

01930930 (England and Wales)

ACCOUNTANTS:

Harrison Black Limited

Pyle House

136/137 Pyle Street

Newport

Isle of Wight

PO30 1JW

BANKERS:

National Westminster Bank Plc

PO Box 1357

169 Victoria Street

London

SW1E 5NA

FIXED ASSETS

Tangible assets

4

1,800,000

1,802,836

CURRENT ASSETS

Debtors

5

4,374

888

Cash at bank

17,922

29,651

22,296

30,539

CREDITORS

Amounts falling due within one year

6

46,759

66,096

NET CURRENT LIABILITIES

(24,463

)

(35,557

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,775,537

1,767,279

CREDITORS

Amounts falling due after more than one year

7

42,039

44,039

NET ASSETS

1,733,498

1,723,240

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

8

1,733,496

1,723,238

SHAREHOLDERS' FUNDS

1,733,498

1,723,240

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 April 2021 and were signed on its behalf by:

J Taylor - Director

1.	STATUTORY INFORMATION

Delvehill Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the amount receivable by the company from renting properties, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Office equipment

-

15% on reducing balance

Tangible fixed assets are stated at cost or valuation less any accumulated depreciation and any accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Investment properties where fair value can be measured reliably without undue cost or effort on an on-going basis are accounted for at fair value. Revaluation surpluses are recognised in the statement of income and retained earnings. Deferred tax is recognised on these gains as the rate expected to apply when the property is sold.

To ensure the investment properties are properly disclosed, the directors review the valuations annually after consulting professional independent chartered surveyors.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Investment

Office

properties

equipment

Totals

£

£

£

COST OR VALUATION

At 1 October 2019

1,800,000

20,095

1,820,095

Disposals

-

(20,095

)

(20,095

)

At 30 September 2020

1,800,000

-

1,800,000

DEPRECIATION

At 1 October 2019

-

17,259

17,259

Eliminated on disposal

-

(17,259

)

(17,259

)

At 30 September 2020

-

-

-

NET BOOK VALUE

At 30 September 2020

1,800,000

-

1,800,000

At 30 September 2019

1,800,000

2,836

1,802,836

Cost or valuation at 30 September 2020 is represented by:

Investment

properties

£

Valuation in 2020

333,379

Cost

1,466,621

1,800,000

Investment properties were valued on an open market basis on 30 September 2020 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

4,374

888

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

30,337

33,854

Other creditors

16,422

32,242

46,759

66,096

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

42,039

44,039

8.

RESERVES

Of the retained earnings carried forward, £333,379 (2019 - £333,379) relates to fair value revaluations and is non-distributable.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2020 and 30 September 2019:

2020

2019

£

£

J Taylor

Balance outstanding at start of year

-

96,208

Amounts advanced

-

11,821

Amounts repaid

-

(108,029

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Delvehill Limited for the year ended 30 September 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Delvehill Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Delvehill Limited and state those matters that we have agreed to state to the Board of Directors of Delvehill Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Delvehill Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Delvehill Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Delvehill Limited. You consider that Delvehill Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Delvehill Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Harrison Black Limited

Pyle House

136/137 Pyle Street

Newport

Isle of Wight

PO30 1JW

28 April 2021