Desilu Finchley Road Ltd - Period Ending 2016-11-30

Registration number: 09892797

Desilu Finchley Road Ltd

Unaudited Abbreviated Accounts

for the Period from 27 November 2015 to 30 November 2016

 

Desilu Finchley Road Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Desilu Finchley Road Ltd
for the Period Ended 30 November 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Desilu Finchley Road Ltd for the period ended 30 November 2016 set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional -standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Desilu Finchley Road Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Desilu Finchley Road Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Desilu Finchley Road Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Desilu Finchley Road Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Desilu Finchley Road Ltd. You consider that Desilu Finchley Road Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Desilu Finchley Road Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

NA Associates LLP
Chartered Certified Accountants
Woodgate Studios
2-8 Games Road
Cockfosters
Hertfordshire
EN4 9HN

22 May 2018

Page 1

Desilu Finchley Road Ltd
(Registration number: 09892797)
Abbreviated Balance Sheet at 30 November 2016

		Note			30 November 2016 £
Fixed assets
Tangible fixed assets					4,000,000
Creditors: Amounts falling due within one year					(3,122,011)
Total assets less current liabilities					877,989
Creditors: Amounts falling due after more than one year					(244,416)
Net assets					633,573
Capital and reserves
Called up share capital		4			100
Revaluation reserve					1,000,000
Profit and loss account					(366,527)
Shareholders' funds					633,573

For the year ending 30 November 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 22 May 2018 and signed on its behalf by:

.........................................
M Joseph
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Desilu Finchley Road Ltd
Notes to the Abbreviated Accounts for the Period from 27 November 2015 to 30 November 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Desilu Finchley Road Ltd
Notes to the Abbreviated Accounts for the Period from 27 November 2015 to 30 November 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
Revaluations		1,000,000			1,000,000
Additions		3,000,000			3,000,000
At 30 November 2016		4,000,000			4,000,000
Depreciation
At 30 November 2016		-			-
Net book value
At 30 November 2016		4,000,000			4,000,000

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		30 November 2016 £
Amounts falling due within one year		3,118,336

4	Share capital

Allotted, called up and fully paid shares

	30 November 2016
		No.			£
Ordinary shares of £1 each		100			100

New shares allotted

During the period 100 Ordinary shares having an aggregate nominal value of £100 were allotted for an aggregate consideration of £100. The shares wer alloted on incorporation.

Page 4

Desilu Finchley Road Ltd
Notes to the Abbreviated Accounts for the Period from 27 November 2015 to 30 November 2016
......... continued

5

Control

The company is controlled by no overall controlling party. The ultimate parent undertaking is Desilu Group Limited.

Page 5