Dartlets Ltd. Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 03210820

Dartlets Ltd.

Filleted Unaudited Financial Statements

31 October 2020

Dartlets Ltd.

Financial Statements

Year ended 31 October 2020

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Dartlets Ltd.

Statement of Financial Position

31 October 2020

	2020		2019
Note	£	£	£	£

Fixed assets

Tangible assets	5		268,871		278,145

Current assets

Debtors	6	4,255	810
Cash at bank and in hand		27,994	19,932
		--------	--------
		32,249	20,742

Creditors: amounts falling due within one year	7	73,964		78,892
		--------		--------
Net current liabilities			41,715		58,150
			---------		---------
Total assets less current liabilities			227,156		219,995

Provisions

Taxation including deferred tax	959	246
	---------	---------
Net assets	226,197	219,749
	---------	---------

Dartlets Ltd.

Statement of Financial Position (continued)

31 October 2020

	2020		2019
Note	£	£	£	£

Capital and reserves

Called up share capital	8	196,000	196,000
Profit and loss account		30,197	23,749
		---------	---------
Shareholders funds		226,197	219,749
		---------	---------

These 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 statement of income and retained earnings has not been delivered.

For the year ending 31 October 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 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 financial statements .

These financial statements were approved by the board of directors and authorised for issue on 14 May 2021 , and are signed on behalf of the board by:

A D Showell C E D Showell

Director Director

Company registration number: 03210820

Dartlets Ltd.

Notes to the Financial Statements

Year ended 31 October 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 Dart House, Paignton Road, Stoke Gabriel, Totnes, Devon, TQ9 6SL.

2. Statement of compliance

These 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.The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents amounts of rent receivable for the year.

Tax

Current tax represents the amount of tax payable or receivable in respect of the 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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property	-	2% straight line
Furniture, Fixtures and Fittings	-	25% reducing balance
Equipment	-	25% reducing balance

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, either as financial assets, financial liabilities or equity interests. 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. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2019: 3 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 November 2019	412,217	30,430	27,452	470,099
Additions	–	–	652	652
	---------	--------	--------	---------
At 31 October 2020	412,217	30,430	28,104	470,751
	---------	--------	--------	---------
Depreciation
At 1 November 2019	140,149	29,434	22,371	191,954
Charge for the year	8,244	249	1,433	9,926
	---------	--------	--------	---------
At 31 October 2020	148,393	29,683	23,804	201,880
	---------	--------	--------	---------
Carrying amount
At 31 October 2020	263,824	747	4,300	268,871
	---------	--------	--------	---------
At 31 October 2019	272,068	996	5,081	278,145
	---------	--------	--------	---------

6. Debtors

	2020	2019
	£	£
Other debtors	4,255	810
	-------	----

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	5,911	5,352
Social security and other taxes	2,734	–
Other creditors	65,319	73,540
	--------	--------
	73,964	78,892
	--------	--------

8. Called up share capital

Issued, called up and fully paid

	2020		2019
	No.	£	No.	£
Ordinary shares of £ 1 each	195,000	195,000	195,000	195,000
Ordinary A shares of £ 1 each	1,000	1,000	1,000	1,000
	---------	---------	---------	---------
	196,000	196,000	196,000	196,000
	---------	---------	---------	---------