Mr & Mrs L Durasamy & Sons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03306792 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022

FOR

MR & MRS L DURASAMY & SONS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs H M C Durasamy

SECRETARY:

Mrs H M C Durasamy

REGISTERED OFFICE:

Riseholme Grange

Saint Georges Lane

Riseholme

Lincoln

LN2 2LQ

REGISTERED NUMBER:

03306792 (England and Wales)

ACCOUNTANTS:

Stevenson & Co

The Old Ambulance Station

Grammar School Road

Brigg

DN20 8AF

FIXED ASSETS

Tangible assets

4

20,670

21,855

Investment property

5

3,815,000

4,220,001

3,835,670

4,241,856

CURRENT ASSETS

Cash at bank

21,083

14,301

CREDITORS

Amounts falling due within one year

6

329,054

327,784

NET CURRENT LIABILITIES

(307,971

)

(313,483

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,527,699

3,928,373

CREDITORS

Amounts falling due after more than one year

7

(625,886

)

(1,182,244

)

PROVISIONS FOR LIABILITIES

8

(566,364

)

(442,785

)

NET ASSETS

2,335,449

2,303,344

CAPITAL AND RESERVES

Called up share capital

9

902

902

Share premium

10

899,100

899,100

Non-distributable reserves

10

1,683,589

1,796,733

Retained earnings

10

(248,142

)

(393,391

)

SHAREHOLDERS' FUNDS

2,335,449

2,303,344

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 January 2023 and were signed by:

Mrs H M C Durasamy - Director

1.	STATUTORY INFORMATION

Mr & Mrs L Durasamy & Sons 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% 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.

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 that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 May 2021

10,974

21,281

32,255

Additions

4,466

-

4,466

At 30 April 2022

15,440

21,281

36,721

DEPRECIATION

At 1 May 2021

9,519

881

10,400

Charge for year

551

5,100

5,651

At 30 April 2022

10,070

5,981

16,051

NET BOOK VALUE

At 30 April 2022

5,370

15,300

20,670

At 30 April 2021

1,455

20,400

21,855

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2021

4,220,001

Disposals

(341,190

)

Revaluations

(63,811

)

At 30 April 2022

3,815,000

NET BOOK VALUE

At 30 April 2022

3,815,000

At 30 April 2021

4,220,001

The company holds 33.3% of the ordinary share capital of Rutland Street (Filey) Management Company Limited, 03992868. This holds a freehold reversion only.

Fair value at 30 April 2022 is represented by:

£

Valuation in 2022

3,815,000

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

30.4.22

30.4.21

£

£

Cost

1,570,215

1,911,405

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Hire purchase contracts

9,670

13,000

Trade creditors

7,696

235

Tax

17,588

4,496

Social security and other taxes

617

-

Credit card account

422

2,191

Directors' current accounts

277,086

294,030

Deposits and income in advance

12,375

10,232

Accrued expenses

3,600

3,600

329,054

327,784

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.22

30.4.21

£

£

Other loans more 5yrs

625,886

1,182,244

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs

625,886

1,182,244

8.	PROVISIONS FOR LIABILITIES

30.4.22

30.4.21

£

£

Deferred tax

Other timing differences

561,196

438,633

Deferred tax

5,168

4,152

566,364

442,785

Deferred

tax

£

Balance at 1 May 2021

442,785

Provided during year

1,016

Fair value adjustment

122,563

Balance at 30 April 2022

566,364

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.22

30.4.21

value:

£

£

902

Ordinary

£1

902

902

10.

RESERVES

Retained

Share

Non-distributable

earnings

premium

reserves

Totals

£

£

£

£

At 1 May 2021

(393,391

)

899,100

1,796,733

2,302,442

Profit for the year

32,105

32,105

Fair value transfer

113,144

-

(113,144

)

-

At 30 April 2022

(248,142

)

899,100

1,683,589

2,334,547

11.	RELATED PARTY DISCLOSURES

The company is controlled by the directors who own 100% of the share capital.

The directors current account is repayable upon demand.