Derol Limited - Accounts to registrar (filleted) - small 18.2

Derol Limited - Accounts to registrar (filleted) - small 18.2

DEROL LIMITED - Company Information

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REGISTERED NUMBER: 07929599 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

DEROL LIMITED
DEROL LIMITED (REGISTERED NUMBER: 07929599)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


DEROL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2018







DIRECTOR: A S C Singer





REGISTERED OFFICE: 59 Queen Elizabeths Walk
Stoke Newington
London
N16 5UG





REGISTERED NUMBER: 07929599 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL
Page 1
DEROL LIMITED (REGISTERED NUMBER: 07929599)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 JANUARY 2018

31.1.18 31.1.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 378 444
Investment property 6 364,488 364,488
364,866 364,932

CURRENT ASSETS
Cash at bank 1,801 1,575

CREDITORS
Amounts falling due within one year 163,872 162,911
NET CURRENT LIABILITIES (162,071 ) (161,336 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
202,795
203,596

CAPITAL AND RESERVES
Called up share capital 7 1 1
Revaluation reserve 8 131,742 131,742
Retained earnings 8 71,052 71,853
SHAREHOLDERS' FUNDS 202,795 203,596

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 notes form part of these financial statements

Page 2 continued...
DEROL LIMITED (REGISTERED NUMBER: 07929599)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2018


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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31 January 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 25 October 2018 and were signed by:





A S C Singer - Director


The notes form part of these financial statements

Page 3
DEROL LIMITED (REGISTERED NUMBER: 07929599)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018

1. STATUTORY INFORMATION

Derol 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

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 - 25% on reducing balance

Investment property
Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognised initially at cost.

Subsequent to initial recognition:
a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair
value. Any gains or losses arising from change in fair value are recognised in profit or loss in the period that they
arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

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 statement of financial position date.


Page 4 continued...
DEROL LIMITED (REGISTERED NUMBER: 07929599)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2018

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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 (2017 - NIL).

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2017
and 31 January 2018 790
DEPRECIATION
At 1 February 2017 346
Charge for year 66
At 31 January 2018 412
NET BOOK VALUE
At 31 January 2018 378
At 31 January 2017 444

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2017
and 31 January 2018 364,488
NET BOOK VALUE
At 31 January 2018 364,488
At 31 January 2017 364,488

Investment property fair value is based on a valuation by an external, independent valuator, having an
appropriate recognised professional qualification and recent experience in the location and class of the property
being valued.

Any gain or loss arising from a change in fair value is recognised in profit or loss.

Page 5 continued...
DEROL LIMITED (REGISTERED NUMBER: 07929599)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2018

6. INVESTMENT PROPERTY - continued

Fair value at 31 January 2018 is represented by:

£   
Valuation in 2015 131,742
Cost 232,746
364,488

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.1.18 31.1.17
value: £    £   
1 Ordinary £1 1 1

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2017 71,853 131,742 203,595
Deficit for the year (801 ) (801 )
At 31 January 2018 71,052 131,742 202,794

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A S C Singer.

Page 6