Ron De Young Resources Ltd - Accounts to registrar - small 16.1.1

REGISTERED NUMBER: 03602666 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2015

for

Ron De Young Resources Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs M M De Young

SECRETARY:

Mrs N Pritchard-Smith

REGISTERED OFFICE:

1A Downside Road

Sutton

Surrey

SM2 5HR

REGISTERED NUMBER:

03602666 (England and Wales)

ACCOUNTANTS:

Thornton Springer LLP

Chartered Accountants

67 Westow Street

Upper Norwood

London

SE19 3RW

FIXED ASSETS

Investments

5

178,403

242,397

Investment property

6

1,496,873

1,453,608

1,675,276

1,696,005

CURRENT ASSETS

Debtors: amounts falling due within one year

7

431,590

652,855

Cash at bank

243,376

364,093

674,966

1,016,948

CREDITORS

Amounts falling due within one year

8

(960,728

)

(1,310,654

)

NET CURRENT LIABILITIES

(285,762

)

(293,706

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,389,514

1,402,299

PROVISIONS FOR LIABILITIES

(129,371

)

(129,371

)

NET ASSETS

1,260,143

1,272,928

CAPITAL AND RESERVES

Called up share capital

200

200

Non-distributable reserves

9

517,483

517,483

Retained earnings

9

742,460

755,245

SHAREHOLDERS' FUNDS

1,260,143

1,272,928

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2015 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 28 September 2016 and were signed by:

Mrs M M De Young - Director

1.	STATUTORY INFORMATION

Ron De Young Resources 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.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. This is the first year of adoption of FRS 102 Section 1A. The transitional adjustments are shown in notes to the financial statements.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date where transactions or events that result in an obligation to pay more, or a right to pay less, tax in the

future have occurred at the balance sheet date.

This is subject to deferred tax assets only being recognised if it is considered more likely than not that there will

be suitable profits from which the future reversal of the underlying timing differences can be deducted.

Timing differences are differences arising between the Company's taxable profits and its results as stated in the

financial statements, which are capable of reversal in one or more subsequent periods.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2015

242,397

Disposals

(63,994

)

At 31 December 2015

178,403

NET BOOK VALUE

At 31 December 2015

178,403

At 31 December 2014

242,397

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2015

1,453,608

Additions

93,469

Disposals

(50,204

)

At 31 December 2015

1,496,873

NET BOOK VALUE

At 31 December 2015

1,496,873

At 31 December 2014

1,453,608

Cost or valuation at 31 December 2015 is represented by:

£

Valuation in 2010

296,854

Valuation in 2014

350,000

Cost

850,019

1,496,873

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

31.12.15

31.12.14

£

£

Cost

850,019

806,754

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

31.12.14

£

£

Trade debtors

3,617

28,996

Other debtors

427,973

623,859

431,590

652,855

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

31.12.14

£

£

Trade creditors

15,035

31,331

Taxation and social security

23,478

20,714

Other creditors

922,215

1,258,609

960,728

1,310,654

9.

RESERVES

Retained

Non-distributable

earnings

reserves

Totals

£

£

£

At 1 January 2015

755,245

517,483

1,272,728

Deficit for the year

(12,785

)

(12,785

)

At 31 December 2015

742,460

517,483

1,259,943

10.	RELATED PARTY DISCLOSURES

Included within Other Creditors due in less than one year is a balance owed to the director Mrs M M De Young

in the amount of £530,816 (2014 - £836,622).

Mrs M M De Young rented a property from the company. The total rent paid was £12,000 (2014 £5,000).

Included in Other Creditors is a balance owed to Ron De Young Associates Limited in the amount of £381,950

(2014 - £418,041). Mrs M M De Young is a director and shareholder of Ron De Young Associates Limited.