Decade Property Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02945786 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

DECADE PROPERTY INVESTMENTS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

P Broomhead

SECRETARY:

B C McCarthy

REGISTERED OFFICE:

3 Hobbs House

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

REGISTERED NUMBER:

02945786 (England and Wales)

ACCOUNTANTS:

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

FIXED ASSETS

Tangible assets

4

357

446

Investment property

5

1,000,000

1,000,000

1,000,357

1,000,446

CURRENT ASSETS

Debtors

6

1,507,573

1,738,893

Cash at bank

526,062

511,708

2,033,635

2,250,601

CREDITORS

Amounts falling due within one year

7

(201,632

)

(245,172

)

NET CURRENT ASSETS

1,832,003

2,005,429

TOTAL ASSETS LESS CURRENT LIABILITIES

2,832,360

3,005,875

CREDITORS

Amounts falling due after more than one year

8

(917,360

)

(1,074,632

)

PROVISIONS FOR LIABILITIES

9

(140,379

)

(140,379

)

NET ASSETS

1,774,621

1,790,864

CAPITAL AND RESERVES

Called up share capital

10

110

110

Share premium

11

19,990

19,990

Capital contribution from

parent

11

586,145

638,847

Fair value reserve

11

338,833

338,833

Retained earnings

11

829,543

793,084

SHAREHOLDERS' FUNDS

1,774,621

1,790,864

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 1 June 2021 and were signed by:

P Broomhead - Director

1.	STATUTORY INFORMATION

Decade Property Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 rent and service charges, 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.

Fixtures and fittings

-

20% on reducing balance

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.

Interest payable

Interest payable is charged to the profit and loss account on an accruals basis.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

Current tax is recognised for the amounts of income tax payable in respect of the taxable profit for the current or past reporting requirements using the tax rates and laws that have been enacted or substantively enacted by the reporting dates.

Deferred tax is recognised in respect of all timing differences at the reporting date and are presented within the provision for liabilities 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2020

and 31 December 2020

21,200

DEPRECIATION

At 1 January 2020

20,754

Charge for year

89

At 31 December 2020

20,843

NET BOOK VALUE

At 31 December 2020

357

At 31 December 2019

446

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2020

and 31 December 2020

1,000,000

NET BOOK VALUE

At 31 December 2020

1,000,000

At 31 December 2019

1,000,000

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

2020

2019

£

£

Cost

261,167

261,167

The property 3 Hobbs House, Harrow, Middlesex has been valued at open market value basis on 31 December 2017 by the director.

6.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Other debtors

138,911

166,664

Amounts falling due after more than one year:

Other debtors

1,368,662

1,572,229

Aggregate amounts

1,507,573

1,738,893

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

1,916

62,645

Taxation and social security

7,582

-

Other creditors

192,134

182,527

201,632

245,172

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

917,360

1,074,632

9.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

140,378

140,378

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

110

Ordinary Shares

£1

110

110

11.

RESERVES

Capital

contribution

Fair

Retained

Share

from

value

earnings

premium

parent

reserve

Totals

£

£

£

£

£

At 1 January 2020

793,084

19,990

638,847

338,833

1,790,754

Profit for the year

36,459

36,459

Loan reserve adjustment

-

-

(52,702

)

-

(52,702

)

At 31 December 2020

829,543

19,990

586,145

338,833

1,774,511

12.	RELATED PARTY DISCLOSURES

Jungersol Limited

Parent company

2020

2019

£

£

Amount due to related party at the balance sheet date

1,103,719

1,250,559

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 Statement of Financial Position. 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 Decade Property Investments Limited for the year ended 31 December 2020 which comprise the Income Statement, Statement of Financial Position 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 Decade Property Investments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Decade Property Investments Limited and state those matters that we have agreed to state to the director of Decade Property Investments 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 Decade Property Investments Limited and its director for our work or for this report.

It is your duty to ensure that Decade Property Investments 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 Decade Property Investments Limited. You consider that Decade Property Investments 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 Decade Property Investments 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.

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

1 June 2021