Downer & Co Ltd - Accounts to registrar (filleted) - small 18.2
Downer & Co Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2021 |
| for |
| Downer & Co Ltd |
| Downer & Co Ltd (Registered number: 02698329) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Downer & Co Ltd |
| Company Information |
| for the Year Ended 31 August 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| The Old Butchery |
| High Street |
| Twyford, nr Winchester |
| Hampshire |
| SO21 INH |
| Downer & Co Ltd (Registered number: 02698329) |
| Balance Sheet |
| 31 August 2021 |
| 31.8.21 | 31.8.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Downer & Co Ltd (Registered number: 02698329) |
| Balance Sheet - continued |
| 31 August 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Downer & Co Ltd (Registered number: 02698329) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2021 |
| 1. | STATUTORY INFORMATION |
| Downer & Co Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is the amount derived from ordinary activities, and is stated after trade discounts, other sales taxes and net of VAT. |
| The policies adopted for the recognition of turnover are as follows: |
| Sales commissions - commissions are recognised in the financial statements when the negotiation work to the exchange of property is completed and the contracts have been exchanged. |
| Mortgage commission and property valuation income are recognised when they are received. |
| Interest receivable - interest is recognised when it is received. |
| Tangible fixed assets |
| Short leasehold | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Government grants |
| Government grants received in respect of covid-19 are revenue based and are recognised in the financial statements under the accruals model. |
| Stocks |
| The work in progress shown in the financial statements comprises the commission due on properties that exchange in the week following the year end. This is on the basis that all work to negotiate the exchange has been completed by the year end date. |
| Financial instruments |
| Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the financial instrument. |
| Trade debtors and trade creditors have no stated interest rate and are receivable or payable within one year. They are recorded at transaction price with any losses from impairment being recognised in profit or loss. |
| The coronavirus business interruption loan scheme (CBILS) loan was initially measured at the present value of future payments discounted at a market rate of interest. Subsequent measurement is in accordance with the loan, the capital being repaid on a straight line basis over the remaining term and the interest paid separately each month and recognised in the profit or loss. |
| Downer & Co Ltd (Registered number: 02698329) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 ruling at 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 ruling at 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. |
| 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. Where the company has paid in excess of the amounts due during the reporting period, that excess is recognised in current assets. Where amounts are owed to the pension scheme those amounts are recognised in current liabilities at the reporting date. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise current balances with banks and similar institutions, which are readily convertible to known amounts of cash and which are subject to insignificant risk of changes in value. |
| Provisions |
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reasonably estimated. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Downer & Co Ltd (Registered number: 02698329) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2021 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2020 |
| Additions |
| At 31 August 2021 |
| DEPRECIATION |
| At 1 September 2020 |
| Charge for year |
| At 31 August 2021 |
| NET BOOK VALUE |
| At 31 August 2021 |
| At 31 August 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.21 | 31.8.20 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Inter company - Downer & Co (Lettings) Ltd | - | 17,500 |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.21 | 31.8.20 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.21 | 31.8.20 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loan - CBILS over 5 years | - | 12,673 |
| Downer & Co Ltd (Registered number: 02698329) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2021 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.8.21 | 31.8.20 |
| £ | £ |
| Bank loans |
| The bank holds fixed and floating charges over the company's assets and property present and future. |
| 9. | OTHER FINANCIAL COMMITMENTS |
| Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £181,595 (2020 £220,709). |