Dial Square Associates Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 05213122 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Dial Square Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I R Futcher

REGISTERED OFFICE:

9 St George's Yard

Castle Street

Farnham

Surrey

GU9 7LW

REGISTERED NUMBER:

05213122 (England and Wales)

ACCOUNTANTS:

Blackwood Futcher & Co.

Chartered Accountants

9 St George's Yard

Farnham

Surrey

GU9 7LW

FIXED ASSETS

Tangible assets

4

417,134

423,820

Investment property

5

810,000

748,874

1,227,134

1,172,694

CURRENT ASSETS

Debtors

6

420,773

403,433

Cash at bank

54,707

76,906

475,480

480,339

CREDITORS

Amounts falling due within one year

7

169,099

261,361

NET CURRENT ASSETS

306,381

218,978

TOTAL ASSETS LESS CURRENT LIABILITIES

1,533,515

1,391,672

CREDITORS

Amounts falling due after more than one year

8

(330,674

)

(388,281

)

PROVISIONS FOR LIABILITIES

(1,903

)

(2,854

)

NET ASSETS

1,200,938

1,000,537

CAPITAL AND RESERVES

Called up share capital

10

10

Other reserves

61,126

-

Retained earnings

1,139,802

1,000,527

SHAREHOLDERS' FUNDS

1,200,938

1,000,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 4 May 2022 and were signed by:

I R Futcher - Director

1.	STATUTORY INFORMATION

Dial Square Associates 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 net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Motor vehicles

-

25% on cost

Office equipment

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2021 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Motor

Office

property

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2021

and 31 March 2022

394,392

7,059

55,046

456,497

DEPRECIATION

At 1 April 2021

-

2,682

29,995

32,677

Charge for year

-

1,530

5,156

6,686

At 31 March 2022

-

4,212

35,151

39,363

NET BOOK VALUE

At 31 March 2022

394,392

2,847

19,895

417,134

At 31 March 2021

394,392

4,377

25,051

423,820

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

Office

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2021

and 31 March 2022

7,059

17,715

24,774

DEPRECIATION

At 1 April 2021

2,682

5,316

7,998

Charge for year

1,530

1,772

3,302

At 31 March 2022

4,212

7,088

11,300

NET BOOK VALUE

At 31 March 2022

2,847

10,627

13,474

At 31 March 2021

4,377

12,399

16,776

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2021

748,874

Revaluations

61,126

At 31 March 2022

810,000

NET BOOK VALUE

At 31 March 2022

810,000

At 31 March 2021

748,874

Fair value at 31 March 2022 is represented by:

£

Valuation in 2022

61,126

Cost

748,874

810,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.22

31.3.21

£

£

Cost

748,874

-

Investment property was valued on an open market basis on 31 March 2022 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

132,763

155,884

Other debtors

118,223

105,058

Directors' current accounts

141,728

119,582

Prepayments

28,059

22,909

420,773

403,433

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

52,050

66,600

Hire purchase contracts

2,980

4,527

Trade creditors

9,882

8,347

Taxation

55,769

106,071

Social security and other taxes

44,861

72,240

Other creditors

3,182

667

Accrued expenses

375

2,909

169,099

261,361

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans - 1-2 years

104,100

105,529

Bank loans - 2-5 years

111,210

104,100

Bank loans more 5 yr by instal

115,364

178,652

330,674

388,281

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

115,364

178,652

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.22

31.3.21

£

£

Bank loans

382,724

454,881

The bank loans are secured by the freehold properties and investment properties held by the company.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22

31.3.21

£

£

I R Futcher

Balance outstanding at start of year

119,582

99,165

Amounts advanced

141,728

132,750

Amounts repaid

(119,582

)

(112,333

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

141,728

119,582

The maximum amount outstanding during the year and due to the company by the director was £141,728. No interest was paid on this balance during the year.