Daleready Ltd - Accounts to registrar (filleted) - small 17.3

Daleready Ltd - Accounts to registrar (filleted) - small 17.3

DALEREADY LTD - Company Information

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REGISTERED NUMBER: 03397104 (England and Wales)

















DALEREADY LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016






DALEREADY LTD (REGISTERED NUMBER: 03397104)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DALEREADY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTORS: Mr M A Cymerman
Mr P M Noe





SECRETARY: Mr M A Cymerman





REGISTERED OFFICE: First Floor
94 Stamford Hill
London
N16 6XS





REGISTERED NUMBER: 03397104 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS
Page 1
DALEREADY LTD (REGISTERED NUMBER: 03397104)

BALANCE SHEET
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 277 369
Investment property 6 5,172,410 5,172,410
5,172,687 5,172,779

CURRENT ASSETS
Debtors 7 145,589 56,365
Cash at bank 209,570 209,378
355,159 265,743
CREDITORS
Amounts falling due within one year 8 716,006 638,424
NET CURRENT LIABILITIES (360,847 ) (372,681 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
4,811,840
4,800,098

CREDITORS
Amounts falling due after more than one
year
9
3,072,248
3,158,867
NET ASSETS 1,739,592 1,641,231

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,739,590 1,641,229
1,739,592 1,641,231

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 notes on pages 4 to 7 form part of these financial statements

Page 2
DALEREADY LTD (REGISTERED NUMBER: 03397104)

BALANCE SHEET - continued
31 DECEMBER 2016


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 27 March 2018 and were signed on its
behalf by:





Mr M A Cymerman - Director


The notes on pages 4 to 7 form part of these financial statements

Page 3
DALEREADY LTD (REGISTERED NUMBER: 03397104)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

1. STATUTORY INFORMATION

Daleready 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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified to include
investment properties measured at fair value through profit or loss.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 December 2016 are the first that are prepared in
accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance
with UK GAAP, the date of transition to FRS 102 Section 1A is 1 January 2015.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make
judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are
not readily apparent from other sources. The estimates and associated assumptions are based on
historical experience and other factors that are considered to be relevant. The estimates and
underlying assumptions are reviewed on an ongoing basis.

Turnover
Turnover is recognised at the fair value of the consideration receivable in respect of services provided
in the normal course of business. The turnover of the company is represented by rents and charges
receivable in respect of the company's investment portfolio. Rental income is accounted for on an
accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially
recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value
are recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss
Account, 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.


Page 4
DALEREADY LTD (REGISTERED NUMBER: 03397104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2015 - NIL).

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2016
and 31 December 2016 57,198
DEPRECIATION
At 1 January 2016 56,829
Charge for year 92
At 31 December 2016 56,921
NET BOOK VALUE
At 31 December 2016 277
At 31 December 2015 369

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2016
and 31 December 2016 5,172,410
NET BOOK VALUE
At 31 December 2016 5,172,410
At 31 December 2015 5,172,410

The directors consider that the fair value at the year end is appropriate.

Page 5
DALEREADY LTD (REGISTERED NUMBER: 03397104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 105,589 56,000
Other debtors 40,000 365
145,589 56,365

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Bank loans and overdrafts 61,332 37,044
Taxation and social security 80,902 58,648
Other creditors 573,772 542,732
716,006 638,424

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2016 2015
£    £   
Bank loans 3,072,248 3,158,867

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,826,920 3,010,691

10. SECURED DEBTS

The following secured debts are included within creditors:

2016 2015
£    £   
Bank loans 3,133,580 3,195,911

The bank loans are secured by legal charges over the company's investment properties.

Page 6
DALEREADY LTD (REGISTERED NUMBER: 03397104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

11. FIRST YEAR ADOPTION

These are the first financial statements that comply with FRS 102. The company transitioned to FRS
102 on 1 January 2015.

No transitional adjustments were required in equity or profit or loss for the year.

The following were changes in accounting policies arising from the transition to FRS 102:

Investment properties:
Previously, the company's investment properties were shown at market value, with aggregate surplus
or deficit being recorded in the revaluation reserve. Under FRS 102, these properties are shown at fair
value, with changes in fair value being recorded in the profit and loss account.

Deferred tax on unrealised investment property gains and losses:
Previously, no deferred tax was recognised on the timing differences between the accounting and tax
treatment of the revaluation of the company's investment property. Under FRS 102, deferred tax is
recognised on the difference between the cost for tax purposes and the fair value of the company's
investment properties, with movements recorded in the profit and loss account.

Page 7