D R L Developments Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04943122 (England and Wales)

Financial Statements for the Year Ended 31 March 2017

for

D R L Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R S Barrett

SECRETARY:

R S Barrett

REGISTERED OFFICE:

40-48 Midland Road

St Phillips

Bristol

BS2 0JY

REGISTERED NUMBER:

04943122 (England and Wales)

ACCOUNTANTS:

Chartax Accounting & Taxation Limited

2nd Floor, 53 High Street

Keynsham

N E Somerset

BS31 1DS

FIXED ASSETS

Tangible assets

3

534

628

Investment property

4

920,000

920,000

920,534

920,628

CURRENT ASSETS

Debtors

5

5,076

-

CREDITORS

Amounts falling due within one year

6

490,033

498,640

NET CURRENT LIABILITIES

(484,957

)

(498,640

)

TOTAL ASSETS LESS CURRENT LIABILITIES

435,577

421,988

CREDITORS

Amounts falling due after more than one year

7

1,202,856

1,202,856

NET LIABILITIES

(767,279

)

(780,868

)

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

(767,282

)

(780,871

)

SHAREHOLDERS' FUNDS

(767,279

)

(780,868

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 21 December 2017 and were signed by:

R S Barrett - Director

1.	STATUTORY INFORMATION

D R L Developments Limited 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 as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

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 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.

Going concern

These accounts have been prepared on a going concern basis. The validity of this assumption depends on the

continued support of the company's bankers and directors. No adjustments have been made that would arise

should this co-operation cease.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2016

and 31 March 2017

1,666

DEPRECIATION

At 1 April 2016

1,038

Charge for year

94

At 31 March 2017

1,132

NET BOOK VALUE

At 31 March 2017

534

At 31 March 2016

628

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

and 31 March 2017

920,000

NET BOOK VALUE

At 31 March 2017

920,000

At 31 March 2016

920,000

Fair value at 31 March 2017 is represented by:

£

Valuation in 2015

(259,508

)

Cost

1,179,508

920,000

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

31.3.17

31.3.16

£

£

Cost

1,179,508

1,179,508

Investment properties were valued on an open market basis on 31 March 2015 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Other debtors

5,076

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

17,147

4,662

Taxation and social security

40,537

60,048

Other creditors

432,349

433,930

490,033

498,640

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans

1,202,856

1,202,856

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Bank loans

1,202,856

1,202,856

9.	RELATED PARTY DISCLOSURES

The company owes £327,800 (2016 - £333,329) to the D L Barrett (a former Director) at the end of the year.

This amount is included in other creditors and no interest has been charged on this balance.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr R S Barrett.