Daimler Estates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03323663 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

FOR

DAIMLER ESTATES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

A Breuer

S Breuer

SECRETARY:

S Breuer

REGISTERED OFFICE:

164 Osbaldeston Road

London

N16 6NJ

REGISTERED NUMBER:

03323663 (England and Wales)

ACCOUNTANTS:

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

FIXED ASSETS

Investment property

4

1,092,500

1,180,000

CURRENT ASSETS

Debtors

5

24,241

5,414

Cash at bank

96,114

27,957

120,355

33,371

CREDITORS

Amounts falling due within one year

6

(180,148

)

(179,289

)

NET CURRENT LIABILITIES

(59,793

)

(145,918

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,032,707

1,034,082

CREDITORS

Amounts falling due after more than one year

7

(182,155

)

(247,160

)

PROVISIONS FOR LIABILITIES

(78,000

)

(78,000

)

NET ASSETS

772,552

708,922

CAPITAL AND RESERVES

Called up share capital

8

1

1

Fair value reserve

9

528,277

528,277

Retained earnings

9

244,274

180,644

SHAREHOLDERS' FUNDS

772,552

708,922

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 14 March 2022 and were signed on its behalf by:

A Breuer - Director

1.	STATUTORY INFORMATION

Daimler Estates Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 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.

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.

Government grants

Government grants are recognised where there is reasonable assurance that the grant will be received. Loans provided and/or guaranteed by government that represent market rates of interest are recorded at the amount of the proceeds received and recognised within Borrowings. Those loans provided and/or guaranteed by government that represent below market rates of interest are measured at inception at their fair value and recognised within Borrowings, with the differential to the proceeds received recorded within Deferred income and released to the relevant financial statement caption in the Income statement on an accruals basis. Grants that compensate the Company for expenses incurred are recognised in the Income statement in the relevant financial statement caption on an accruals basis in the periods in which the expenses are recognised.

The Coronavirus Job Retention Scheme (CJRS)

The CJRS was implemented by the Government of the United Kingdom from March 1, 2020, where those employees designated as being 'furloughed workers' were eligible for up to 80 per cent of their wage costs paid up to a maximum of £2,500 per month. During the year the company received £4,262 (2020:£1,467)under the scheme which has been recognised as grant income on an accruals basis. The Company is obliged to continue to pay the associated social security costs and employer pension contributions.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2020

1,180,000

Disposals

(87,500

)

At 31 July 2021

1,092,500

NET BOOK VALUE

At 31 July 2021

1,092,500

At 31 July 2020

1,180,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

-

3,307

Amounts owed by group undertakings

18,583

-

Other debtors

5,658

2,107

24,241

5,414

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

11,629

11,791

Trade creditors

6,750

6,750

Amounts owed to group undertakings

127,129

-

Taxation and social security

7,973

6,119

Other creditors

26,667

154,629

180,148

179,289

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

70,310

135,315

Other creditors

111,845

111,845

182,155

247,160

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

18,099

60,307

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1

Ordinary

1

1

1

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 August 2020

180,644

528,277

708,921

Profit for the year

63,630

63,630

At 31 July 2021

244,274

528,277

772,551

10.	RELATED PARTY DISCLOSURES

A Breuer

2021

2020

£

£

Amount due to related party at the balance sheet date

119,452

120,285

S Breuer

2021

2020

£

£

Amount due to related party at the balance sheet date

16,560

16,560

Ivyhall Limited

A company under common control

2021

2020

£

£

Amount due to related party at the balance sheet date

127,129

127,129

Cornwillow Limited

A company under common control

2021

2020

£

£

Amount due from related party at the balance sheet date

18,583

-

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Breuer.

The following reproduces the text of the report prepared for the directors 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 Directors 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 Daimler Estates Ltd for the year ended 31 July 2021 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 Board of Directors of Daimler Estates Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Daimler Estates Ltd and state those matters that we have agreed to state to the Board of Directors of Daimler Estates Ltd, as a body, 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 Daimler Estates Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Daimler Estates Ltd 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 Daimler Estates Ltd. You consider that Daimler Estates Ltd 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 Daimler Estates Ltd. 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

14 March 2022