D J Russell Property Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04125638 (England and Wales)

D J RUSSELL PROPERTY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P E Burgin

D J Russell

Mrs K S Russell

SECRETARY:

Indigo Secretaries Limited

REGISTERED OFFICE:

Shire Court

West Street

Dunstable

Bedfordshire

LU6 1NX

REGISTERED NUMBER:

04125638 (England and Wales)

ACCOUNTANTS:

Higginson & Co (UK) Ltd

3 Kensworth Gate

200 - 204 High Street South

Dunstable

Bedfordshire

LU6 3HS

FIXED ASSETS

Tangible assets

3

847,953

650,000

CURRENT ASSETS

Debtors

4

22,344

22,344

Cash at bank

9,551

2,449

31,895

24,793

CREDITORS

Amounts falling due within one year

5

628,816

447,353

NET CURRENT LIABILITIES

(596,921

)

(422,560

)

TOTAL ASSETS LESS CURRENT LIABILITIES

251,032

227,440

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

6

139,202

139,202

Retained earnings

111,730

88,138

SHAREHOLDERS' FUNDS

251,032

227,440

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 25 September 2017 and were signed on its behalf by:

D J Russell - Director

Mrs K S Russell - Director

1.	STATUTORY INFORMATION

D J Russell Property 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 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. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

No depreciation is charged on the properties. The directors are of the opinion that the values exceed that amount

shown in the accounts.

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 balance sheet date.

Deferred tax

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

sheet 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.

3.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 January 2016

650,000

Additions

197,953

At 31 December 2016

847,953

NET BOOK VALUE

At 31 December 2016

847,953

At 31 December 2015

650,000

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Amounts owed by group undertakings

22,344

22,344

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

1,321

586

Taxation and social security

5,898

4,322

Other creditors

621,597

442,445

628,816

447,353

6.

RESERVES

Fair

value

reserve

£

At 1 January 2016

and 31 December 2016

139,202

7.	RELATED PARTY DISCLOSURES

8.	FIRST YEAR ADOPTION

This is the first year that the Company has presented its results under FRS 102. The date of transition to FRS

102 was 1 January 2015.

Transitional relief

On transition to FRS 102, the company has taken advantage of the following transitional relief:

•

to measure fair value at date of transition to FRS 102 and use as deemed cost on an item of property, plant and equipment.