Donald C Larder Limited 24/12/2021 iXBRL

Donald C Larder Limited 24/12/2021 iXBRL

DONALD C LARDER LIMITED - Company Information

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Company registration number: 01344374
Donald C Larder Limited
Trading as Donald C Larder Limited
Unaudited filleted financial statements
24 December 2021
Donald C Larder Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Donald C Larder Limited
Directors and other information
Director Ms Jennifer Sherlock
Secretary Jennifer Sherlock
Company number 01344374
The Flat
21 Southgate
Sleaford
NG34 7SU
Business address The Flat
21 Southgate
Sleaford
Lincolnshire
NG34 7SU
Accountant Bush & Co
95 Boston Road
Sleaford
Lincolnshire
NG34 7HP
Donald C Larder Limited
Statement of financial position
24 December 2021
2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 5 400,875 374,625
_______ _______
400,875 374,625
Current assets
Debtors 6 215 605
Cash at bank and in hand 32,102 45,584
_______ _______
32,317 46,189
Creditors: amounts falling due
within one year 7 ( 36,089) ( 44,307)
_______ _______
Net current (liabilities)/assets ( 3,772) 1,882
_______ _______
Total assets less current liabilities 397,103 376,507
Creditors: amounts falling due
after more than one year 8 ( 75,514) ( 78,553)
_______ _______
Net assets 321,589 297,954
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 73,684 47,434
Profit and loss account 246,905 249,520
_______ _______
Shareholders funds 321,589 297,954
_______ _______
For the year ending 24 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 March 2022 , and are signed on behalf of the board by:
Ms Jennifer Sherlock
Director
Company registration number: 01344374
Donald C Larder Limited
Statement of changes in equity
Year ended 24 December 2021
Called up share capital Revaluation reserve Profit and loss account Total
£ £ £ £
At 25 December 2019 1,000 30,009 241,307 272,316
Profit for the year 11,213 11,213
Other comprehensive income for the year:
Revaluation of tangible assets 17,425 17,425
_______ _______ _______ _______
Total comprehensive income for the year - 17,425 11,213 28,638
Dividends paid and payable ( 3,000) ( 3,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 3,000) ( 3,000)
_______ _______ _______ _______
At 24 December 2020 and 25 December 2020 1,000 47,434 249,520 297,954
Profit for the year 6,385 6,385
Other comprehensive income for the year:
Revaluation of tangible assets 26,250 26,250
_______ _______ _______ _______
Total comprehensive income for the year - 26,250 6,385 32,635
Dividends paid and payable ( 9,000) ( 9,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 9,000) ( 9,000)
_______ _______ _______ _______
At 24 December 2021 1,000 73,684 246,905 321,589
_______ _______ _______ _______
Donald C Larder Limited
Notes to the financial statements
Year ended 24 December 2021
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Donald C Larder Limited, The Flat, 21 Southgate, Sleaford, NG34 7SU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
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 measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement policy
Turnover
Turnover represents the value of rental income received and payable.
Taxation
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 at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt accumulated depreciation and subsequent accumulated 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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property, being property held to earn rentals or for capital appreciation or both, is measured initially at cost, which includes purchase price and any directly attributable expenditure.Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2020: 1 ).
5. Tangible assets
Freehold and leasehold properties
£
Cost or valuation
At 25 December 2020 374,625
Revaluation 26,250
_______
At 24 December 2021 400,875
_______
Carrying amount
At 24 December 2021 400,875
_______
At 24 December 2020 374,625
_______
Investment property
The investment property at the Market Place, Sleaford was revalued by the director Jennifer Sherlock on 24th December 2021. The value of the investment property at 33-35 Boston Road, Sleaford was deemed by the director to be unchanged at £120,000.
6. Debtors
2021 2020
£ £
Other debtors 215 605
_______ _______
7. Creditors: amounts falling due within one year
2021 2020
£ £
Bank loans and overdrafts 2,950 2,800
Corporation tax 2,777 5,450
Other creditors 30,362 36,057
_______ _______
36,089 44,307
_______ _______
8. Creditors: amounts falling due after more than one year
2021 2020
£ £
Other creditors 75,514 78,553
_______ _______
The loan is secured against 33-35 Boston Road, Sleaford, Lincolnshire, NG34 7ER.
£50,000 redeemable preference shares
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
2021 2020
£ £
Jennifer Sherlock 6,210 4,020
_______ _______
A business owned solely by the director Jennifer Sherlock supplied property management and administration services to Donald C Larder Limited . The services were supplied on a commercial basis.
10. Controlling party
During the year ended 24th December 2021, the director Jennifer Sherlock together with members of the close family controlled the company by virtue of a controlling interest (directly or indirectly) of 100% of the issued ordinary share capital.