New Dunn Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10016254 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2018

for

New Dunn Properties Limited

Page

Company Information

1

Chartered Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr S N Wetton

Mr P B Watkins

SECRETARY:

Mr S N Wetton

REGISTERED OFFICE:

Round Shaw Farm

Ipsden Heath

Wallingford

Oxfordshire

OX10 6QR

REGISTERED NUMBER:

10016254 (England and Wales)

ACCOUNTANTS:

Macario Lewin

Chartered Accountants

Bellarmine House

14 Upper Church Street

Chepstow

Monmouthshire

NP16 5EX

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of New Dunn Properties Limited for the year ended 28 February 2018 which comprise the Profit and Loss Account,

Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of New Dunn Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of New Dunn Properties Limited and state those matters that we have agreed to state to the Board of Directors of New Dunn Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than New Dunn Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that New Dunn Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of New Dunn Properties Limited. You consider that New Dunn Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of New Dunn Properties Limited. 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 financial statements.

Macario Lewin

Chartered Accountants

Bellarmine House

14 Upper Church Street

Chepstow

Monmouthshire

NP16 5EX

12 November 2018

FIXED ASSETS

Tangible assets

3

27,727

-

Investment property

4

1,737,991

1,737,991

1,765,718

1,737,991

CURRENT ASSETS

Debtors

83,302

57,050

Cash at bank

100

102

83,402

57,152

CREDITORS

Amounts falling due within one year

1,025,854

945,352

NET CURRENT LIABILITIES

(942,452

)

(888,200

)

TOTAL ASSETS LESS CURRENT LIABILITIES

823,266

849,791

CREDITORS

Amounts falling due after more than one year

5

790,597

818,514

NET ASSETS

32,669

31,277

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

32,569

31,177

SHAREHOLDERS' FUNDS

32,669

31,277

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 12 November 2018 and were signed on its behalf by:

Mr P B Watkins - Director

1.	STATUTORY INFORMATION

New Dunn Properties 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.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes. Turnover is recognised when the right to the consideration is due and in line with

contractual arrangements. Where rental income is received in advance, the amounts are recorded as deferred income and

included as part of creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

15% on reducing balance and over lease term

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 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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under

hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated

over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

Additions

35,783

At 28 February 2018

35,783

DEPRECIATION

Charge for year

8,056

At 28 February 2018

8,056

NET BOOK VALUE

At 28 February 2018

27,727

Fixed assets, included in the above, which are held under finance leases are as follows:

Totals

£

COST

Additions

32,000

At 28 February 2018

32,000

DEPRECIATION

Charge for year

7,489

At 28 February 2018

7,489

NET BOOK VALUE

At 28 February 2018

24,511

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2017

and 28 February 2018

1,737,991

NET BOOK VALUE

At 28 February 2018

1,737,991

At 28 February 2017

1,737,991

The investment properties were valued by the directors at the year end on a fair value basis.

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

28.2.18

28.2.17

£

£

Repayable by instalments

Bank loans - more 5 years

555,603

611,813

6.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.18

28.2.17

£

£

Bank loans

822,092

865,896

Finance leases

25,980

-

848,072

865,896

The bank loan is secured against the property to which it relates.

The finance leases are secured on the assets to which they relate.

7.	OTHER FINANCIAL COMMITMENTS

At 28 February 2018, the company had total commitments under non-cancellable operating leases expiring within one to

five years of £11,233 (2017 - £Nil).

8.	RELATED PARTY DISCLOSURES