Dauber Homes Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01945750 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Dauber Homes Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G M Faiman

Mrs M E Abrahams

Mrs A R Faiman

Mrs R E Lesser

SECRETARY:

Mrs A R Faiman

REGISTERED OFFICE:

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

REGISTERED NUMBER:

01945750 (England and Wales)

ACCOUNTANTS:

Knights Lowe Chartered Accountants

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

3

1,271,037

608,973

CURRENT ASSETS

Debtors

4

33,594

28,754

Cash at bank

195,259

195,259

228,853

224,013

CREDITORS

Amounts falling due within one year

5

58,191

58,566

NET CURRENT ASSETS

170,662

165,447

TOTAL ASSETS LESS CURRENT LIABILITIES

1,441,699

774,420

CREDITORS

Amounts falling due after more than one year

6

(600,000

)

(600,000

)

PROVISIONS FOR LIABILITIES

8

(125,128

)

-

NET ASSETS

716,571

174,420

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Non distributable reserve

10

532,214

-

Retained earnings

183,357

173,420

SHAREHOLDERS' FUNDS

716,571

174,420

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 20 September 2019 and were signed on its behalf by:

G M Faiman - Director

Mrs A R Faiman - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents management fees and ground rents receivable.

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 cost

Computer equipment

-

33% on cost

Freehold land and buildings are shown at current valuations. The valuations have been conducted in

November 2018 by Aston Rose Chartered Surveyors and therefore provide a true and fair view. Any aggregate

surplus or deficit arising from changes in fair value is recognised in the profit or loss.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other

related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value

of the future payments and subsequently at amortised cost using the effective interest method. Debt

instruments that are payable or receivable within one year, typically trade payables or receivables, are

measured, initially and subsequently, at the undiscounted amount of the cash or other consideration,

expected to be paid or received. However if the arrangements of a short-term instrument constitute a

financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at

a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the

financial asset or liability is measured, initially and subsequently, at the present value of the future payment

discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is

recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an

asset's carrying amount and the present value of estimated cash flows discounted at the asset's original

effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any

impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference

between an asset's carrying amount and best estimate, which is an approximation of the amount that the

company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

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.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but

excluding investment properties, are assessed to determine whether there is an indication that the carrying

amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is

an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in

use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable

amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an

impairment loss is recognised in the income statement.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 January 2018

606,466

5,868

612,334

Additions

6,000

368

6,368

Revaluations

657,054

-

657,054

At 31 December 2018

1,269,520

6,236

1,275,756

DEPRECIATION

At 1 January 2018

-

3,361

3,361

Charge for year

-

1,358

1,358

At 31 December 2018

-

4,719

4,719

NET BOOK VALUE

At 31 December 2018

1,269,520

1,517

1,271,037

At 31 December 2017

606,466

2,507

608,973

Cost or valuation at 31 December 2018 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2018

1,269,520

6,236

1,275,756

If land and buildings had not been revalued they would have been included at the following historical cost:

2018

2017

£

£

Cost

612,466

-

Land and buildings were valued on an open market basis on 28 November 2018 by Aston Rose Chartered Surveyors

.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

23,123

20,209

Other debtors

10,471

8,545

33,594

28,754

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

18,999

21,857

Other creditors

39,192

36,709

58,191

58,566

Included within other creditors is a directors loan. Interest has not been charged.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

600,000

600,000

Included within other creditors is a directors loan. Interest has not been charged.

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Directors' loan account

631,150

631,895

The Directors' loan account is secured by legal charges over the company's assets.

8.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

Accelerated capital allowances

125,128

-

Deferred

tax

£

Provided during year

125,128

Balance at 31 December 2018

125,128

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1,000

Ordinary

£1

1,000

1,000

10.

RESERVES

Non

distributable

reserve

£

Revaluation reserve

532,214

At 31 December 2018

532,214