DUNSTAN HOUSE LIMITED - Accounts

DUNSTAN HOUSE LIMITED - Accounts

DUNSTAN HOUSE LIMITED - Company Information

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Registered Number : 04320989
England and Wales

 

 

 

DUNSTAN HOUSE LIMITED


Abbreviated Accounts
 


Period of accounts

Start date: 01 January 2015

End date: 31 December 2015

DUNSTAN HOUSE LIMITED
Contents Page
For the year ended 31 December 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DUNSTAN HOUSE LIMITED for the year ended 31 December 2015 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the companys 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of DUNSTAN HOUSE LIMITED, as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the financial statements of DUNSTAN HOUSE LIMITED and state those matters that we have agreed to state to the Board of Directors of DUNSTAN HOUSE LIMITED, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DUNSTAN HOUSE LIMITED and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that DUNSTAN HOUSE 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 DUNSTAN HOUSE LIMITED. You consider that DUNSTAN HOUSE 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 DUNSTAN HOUSE 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.




....................................................
Pace Accountancy Ltd
3 The Retreat, Glebe Lane,
Abberton
Colchester
CO5 7NW
20 September 2016

1
 
 		 Notes
 		 2015
£		   2014
£
Fixed assets      
Tangible fixed assets 2 124,767    124,767 
124,767    124,767 
Current assets      
Debtors 53    53 
Net current assets 53    53 
Total assets less current liabilities 124,820    124,820 
Net assets 124,820    124,820 

Capital and reserves 		     
Called up share capital 3 53    53 
Share premium account 124,767    124,767 
Shareholders funds 124,820    124,820 


For the year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Signed on behalf of the board of directors


--------------------------------
Valerie Baker
Director

Date approved by the board: 20 September 2016
2
1.

Accounting Policies

Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Change in accounting policy and prior year adjustment

In 2002 the residents management company acquired the freehold in the sum of £124,767 which was treated as share premium on the unpaid nominal value of the shares. However, in the accounts for 2009, this was written off in error. The directors are therefore reversing the write off and correcting the reported asset of the company to include the freehold value oF the land and property owned by the management company.
Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Straight Line
2.

Tangible fixed assets

Cost or Valuation Land and Buildings   Total
  £   £
At 01 January 2015 124,767    124,767 
Additions -    - 
Disposals -    - 
At 31 December 2015 124,767    124,767 
Depreciation
At 01 January 2015 -    - 
Charge for year -    - 
On disposals -    - 
At 31 December 2015 -    - 
Net book values
At 31 December 2015 124,767    124,767 
At 01 January 2015 124,767    124,767 


3.

Share Capital

Allotted
2015
£		   2014
£
53 Ordinary shares of £1.00 each 53    53 
53    53 

4.

Prior Year Adjustment

The shareholders subscribed for 53 ordinary shares of £1 each on incorporation which remains unpaid. in addition however they subscribed and paid a share premium for the acquisition of the freehold property known as Dunstan House, Stepney Green, in the sum of £124,767. This was however written off, and so the freehold asset and share premium were not properly disclosed. The directors have decided to correct these figures in the accounts this year, which has given rise to a prior year adjustment. 
3