ACCOUNTS - Final Accounts


Caseware UK (AP4) 2014.0.91 2014.0.91 2016-12-312016-12-31The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseProperty rentalfalse2016-01-01 04348569 2016-01-01 2016-12-31 04348569 2015-01-01 2015-12-31 04348569 2016-12-31 04348569 2015-12-31 04348569 c:Director1 2016-01-01 2016-12-31 04348569 d:Buildings 2016-01-01 2016-12-31 04348569 d:Buildings 2016-12-31 04348569 d:Buildings 2015-12-31 04348569 d:Buildings d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04348569 d:LandBuildings 2016-12-31 04348569 d:LandBuildings 2015-12-31 04348569 d:PlantMachinery 2016-01-01 2016-12-31 04348569 d:PlantMachinery 2016-12-31 04348569 d:PlantMachinery 2015-12-31 04348569 d:PlantMachinery d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04348569 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2016-01-01 2016-12-31 04348569 d:FurnitureFittings 2016-01-01 2016-12-31 04348569 d:FurnitureFittings 2016-12-31 04348569 d:FurnitureFittings 2015-12-31 04348569 d:FurnitureFittings d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04348569 d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04348569 d:LeasedAssetsHeldAsLessee 2016-01-01 2016-12-31 04348569 d:CurrentFinancialInstruments 2016-12-31 04348569 d:CurrentFinancialInstruments 2015-12-31 04348569 d:Non-currentFinancialInstruments 2016-12-31 04348569 d:Non-currentFinancialInstruments 2015-12-31 04348569 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 04348569 d:CurrentFinancialInstruments d:WithinOneYear 2015-12-31 04348569 d:Non-currentFinancialInstruments d:AfterOneYear 2016-12-31 04348569 d:Non-currentFinancialInstruments d:AfterOneYear 2015-12-31 04348569 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2016-12-31 04348569 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2015-12-31 04348569 d:ShareCapital 2016-12-31 04348569 d:ShareCapital 2015-12-31 04348569 d:RevaluationReserve 2016-12-31 04348569 d:RevaluationReserve 2015-12-31 04348569 d:RetainedEarningsAccumulatedLosses 2016-12-31 04348569 d:RetainedEarningsAccumulatedLosses 2015-12-31 04348569 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2016-12-31 04348569 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2015-12-31 04348569 d:AcceleratedTaxDepreciationDeferredTax 2016-12-31 04348569 c:FRS102 2016-01-01 2016-12-31 04348569 c:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 04348569 c:FullAccounts 2016-01-01 2016-12-31 04348569 c:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 iso4217:GBP xbrli:pure

Registered number: 04348569









DINTON PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

 
DINTON PROPERTIES LIMITED
REGISTERED NUMBER: 04348569

BALANCE SHEET
AS AT 31 DECEMBER 2016

2016
2015
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,016,491
3,045,990

  
3,016,491
3,045,990

Current assets
  

Debtors: amounts falling due within one year
 5 
4,609
4,926

Cash at bank and in hand
 6 
154,120
183,159

  
158,729
188,085

Creditors: amounts falling due within one year
 7 
(386,023)
(432,406)

Net current liabilities
  
 
 
(227,294)
 
 
(244,321)

Total assets less current liabilities
  
2,789,197
2,801,669

Creditors: amounts falling due after more than one year
 8 
(567,089)
(651,404)

Provisions for liabilities
  

Deferred tax
 12 
(18,731)
(18,731)

  
 
 
(18,731)
 
 
(18,731)

Accruals and deferred income
 13 
(322)
(496)

Net assets
  
2,203,055
2,131,038


Capital and reserves
  

Called up share capital 
  
100
100

Fair value reserve
 14 
1,928,897
1,928,897

Profit and loss account
 14 
274,058
202,041

  
2,203,055
2,131,038


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
 
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DINTON PROPERTIES LIMITED
REGISTERED NUMBER: 04348569
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2016


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 June 2017.



Jonathan Bush
Director
The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
DINTON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

1.


General information

The company is a private company limited by shares, incorporated in England & Wales. The principal place of business is Bell Cottage, Wylye, Warminster. The principal activity of the company was property rental.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
·the amount of revenue can be measured reliably;
·it is probable that the Company will receive the consideration due under the contract;
·the stage of completion of the contract at the end of the reporting period can be measured reliably; and
·the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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DINTON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Land and buildings
-
Straight line over fifty years
Plant and machinery
-
10% reducing balance
Fixtures, fittings and equipment
-
10% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

 
2.4

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in the Statement of income and retained earnings unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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DINTON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of income and retained earnings at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.10

Finance costs

Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

 
2.12

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

 
2.13

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Page 5

 
DINTON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

 
2.15

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
·The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
·Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2015 - 2).

Page 6

 
DINTON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

4.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2016
3,145,622
292,936
4,033
3,442,591



At 31 December 2016

3,145,622
292,936
4,033
3,442,591



Depreciation


At 1 January 2016
207,954
186,641
2,006
396,601


Charge for the period on owned assets
18,666
8,960
203
27,829


Charge for the period on financed assets
-
1,670
-
1,670



At 31 December 2016

226,620
197,271
2,209
426,100



Net book value



At 31 December 2016
2,919,002
95,665
1,824
3,016,491



At 31 December 2015
2,937,668
106,295
2,027
3,045,990




The net book value of land and buildings may be further analysed as follows:


2016
2015
£
£

Freehold
2,919,002
2,937,668

2,919,002
2,937,668


The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2016
2015
£
£



Plant and machinery
15,032
16,702

15,032
16,702

Page 7

 
DINTON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

5.


Debtors

2016
2015
£
£


Trade debtors
4,410
4,470

Other debtors
-
257

Prepayments and accrued income
199
199

4,609
4,926



6.


Cash and cash equivalents

2016
2015
£
£

Cash at bank and in hand
154,120
183,159

Less: bank overdrafts
-
(80,905)

154,120
102,254



7.


Creditors: Amounts falling due within one year

2016
2015
£
£

Bank overdrafts
-
80,905

Bank loans
75,000
70,000

Trade creditors
2,100
7,299

Corporation tax
40,481
25,836

Other taxation and social security
13,227
12,286

Obligations under finance lease and hire purchase contracts
2,857
6,856

Other creditors
179,037
165,139

Accruals and deferred income
73,321
64,085

386,023
432,406


Secured loans
The bank loans and overdrafts are secured.

Page 8

 
DINTON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

8.


Creditors: Amounts falling due after more than one year

2016
2015
£
£

Bank loans
567,089
648,546

Net obligations under finance leases and hire purchase contracts
-
2,858

567,089
651,404



Secured loans

The bank loans and overdrafts are secured.


9.


Loans


Analysis of the maturity of loans is given below:


2016
2015
£
£

Amounts falling due within one year

Bank loans
75,000
70,000


75,000
70,000

Amounts falling due 1-2 years

Bank loans
567,089
648,546


567,089
648,546



642,089
718,546



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2016
2015
£
£


Within one year
2,857
6,856

Between 1-2 years
-
2,858

2,857
9,714

Page 9

 
DINTON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

11.


Financial instruments

2016
2015
£
£

Financial assets


Financial assets measured at fair value through profit or loss
154,120
183,159

154,120
183,159





Financial assets measured at fair value through profit or loss comprise bank and cash in hand.


12.


Deferred taxation



2016


£






At beginning of year
18,731


Charged to profit or loss
-



At end of year
18,731

The provision for deferred taxation is made up as follows:

2016
£


Accelerated capital allowances
18,731

18,731


13.


Accruals and deferred income

2016
2015
£
£

1 to 2 years
322
496

322
496


Page 10

 
DINTON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

14.


Reserves

Profit and loss account

The profit and loss account includes all current and prior year retained profits.


15.


Fair value reserve

The fair value reserve includes all changes in the fair value of investment property. This reserve is non-distributable.


16.


First time adoption of FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

 
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