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

REGISTERED NUMBER: 06413398

Unaudited Financial Statements for the Year Ended 30 November 2021

for

Danlea Limited

Page

Chartered Accountants' Report

1

Balance Sheet

2

Notes to the Financial Statements

3

The following reproduces the text of the report prepared for the director 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 Director 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 Danlea Limited for the year ended 30 November 2021 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 director of Danlea Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Danlea Limited and state those matters that we have agreed to state to the director of Danlea Limited 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 Danlea Limited and its director for our work or for this report.

It is your duty to ensure that Danlea 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 Danlea Limited. You consider that Danlea 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 Danlea 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.

Haggards Crowther Professional Services LLP

Chartered Accountants

2nd Floor, Heathmans House

19 Heathmans Road

London

SW6 4TJ

15 July 2022

CURRENT ASSETS

Stocks

283,200

283,200

Debtors

5

2,333,889

2,296,482

Cash at bank and in hand

4,615

23,615

2,621,704

2,603,297

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6

829,738

2,244,247

NET CURRENT ASSETS

1,791,966

359,050

TOTAL ASSETS LESS CURRENT LIABILITIES

1,791,966

359,050

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

7

1,737,030

361,030

NET ASSETS/(LIABILITIES)

54,936

(1,980

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

8

54,934

(1,982

)

54,936

(1,980

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 15 July 2022 and were signed by:

Mr J A Samuels - Director

1.	STATUTORY INFORMATION

Danlea Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06413398 and its registered address is Oatscroft, Heyshott, Midhurst, England, GU29 0DZ.

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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of the directors there are no judgements or key sources of estimation uncertainty that affect the preparation of the financial statements.

Turnover

Turnover is stated net of VAT. Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date, turnover represents the value of the services provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2020

and 30 November 2021

2,697

DEPRECIATION

At 1 December 2020

and 30 November 2021

2,697

NET BOOK VALUE

At 30 November 2021

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Other debtors

2,333,889

2,296,482

Included in the other debtors, a sum of £2,296,107 [ 2020: £2,296,432 ] was owed by Dolphin Quay LLP, in which the company has a controlling interest - see Note 11 for further details.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Trade creditors

440

1

Other creditors

829,298

2,244,246

829,738

2,244,247

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.21

30.11.20

£

£

Other creditors

1,737,030

361,030

8.

RESERVES

Retained

earnings

£

At 1 December 2020

(1,982

)

Profit for the year

56,916

At 30 November 2021

54,934

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in Other creditors is an amount owed to Mr J A Samuels of £983,404 (2020:£2,344,094).This amount is unsecured, interest free and payable on demand.

As at the year end, a sum of £1,376,000 (2020:£0) was owed to Tableswitch Ltd, a company under the control of the director J Samuel.

10.	INVESTMENTS IN ASSOCIATES AND SUBSIDIARIES

Danlea Limited has a 92% share in Dolphin Quay LLP and therefore has ultimate control over this subsidiary. Dolphin Quay LLP is a partnership incorporated in England and Wales. Their registered address is Oatscroft, Heyshott, Midhurst, United Kingdom, GU29 0DZ.

Danlea Limited and its subsidiaries are a small group and therefore exempt from the requirement to prepare group accounts.