Dunedell Properties Limited - Period Ending 2019-01-31
Dunedell Properties Limited - Period Ending 2019-01-31
Registration number:
Dunedell Properties Limited
for the Year Ended 31 January 2019
Roffe Swayne
Statutory Auditors and Chartered Accountants
Ashcombe Court
Woolsack Way
Godalming
Surrey
GU7 1LQ
Dunedell Properties Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Dunedell Properties Limited
Company Information
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Directors |
J A Strachan E A Jones |
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Company secretary |
A D Parker |
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Registered office |
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Auditors |
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Page 1 |
Dunedell Properties Limited
(Registration number: 03875584)
Balance Sheet as at 31 January 2019
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Note |
2019 |
2018 |
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Fixed assets |
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Investments |
172,000 |
260,000 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
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Page 2 |
Dunedell Properties Limited
Notes to the Financial Statements for the Year Ended 31 January 2019
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General information |
The company is a private company limited by share capital and incorporated in England and Wales. The company registration number is 03875584.
The address of its registered office is:
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Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The company accounts show net liabilities of £618,187. The directors have prepared forecasts which demonstrate how the company will meet its liabilities as they fall due. These are based on the assumption that P M Beckwith, a trustee of the ultimate parent company, will provide sufficient working capital for the company to meet its liabilities as they fall due. These financial statements are therefore prepared on a going concern basis.
Audit report
Revenue recognition
Turnover represents amounts, excluding value added tax, derived from the sale of commercial development and investment properties, and is recognised on legal exchange.
Investments
Investments are stated at cost less a provision for any permanent diminution in value.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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Page 3 |
Dunedell Properties Limited
Notes to the Financial Statements for the Year Ended 31 January 2019
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity.
Rental income
Rental income is recognised on an accruals basis.
Summary of significant judgements and key accounting estimates
Investments
Unlisted investments are reviewed annually for impairment by the directors. Unlisted investments are reviewed based the current and future prospects of the investment and where applicable, external transactions relating to the share capital of the company the investment relates to.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Page 4 |
Dunedell Properties Limited
Notes to the Financial Statements for the Year Ended 31 January 2019
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Fixed asset investments |
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Unlisted investments |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 February 2018 |
325,000 |
325,000 |
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At 31 January 2019 |
325,000 |
325,000 |
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Impairment |
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At 1 February 2018 |
65,000 |
65,000 |
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Impairment charge for the year |
88,000 |
88,000 |
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At 31 January 2019 |
153,000 |
153,000 |
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Carrying amount |
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At 31 January 2019 |
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172,000 |
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At 31 January 2018 |
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260,000 |
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Debtors |
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2019 |
2018 |
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Other debtors |
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Prepayments |
258,731 |
144,301 |
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Total current trade and other debtors |
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Details of non-current trade and other debtors
£1,000,000 (2018 -£Nil) of Other debtors is classified as non current. This balance relates to a loan due from a related party.
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Page 5 |
Dunedell Properties Limited
Notes to the Financial Statements for the Year Ended 31 January 2019
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Creditors |
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Note |
2019 |
2018 |
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Due within one year |
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Trade creditors |
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Other loans |
1,771,316 |
1,765,716 |
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Accrued expenses |
277,150 |
159,289 |
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Share capital |
Allotted, called up and fully paid shares
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2019 |
2018 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
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Parent and ultimate parent undertaking |
The company is owned 100% by The Peter Beckwith Harrow Trust, of which the director, J A Strachan, is a trustee. Copies of the group accounts can be obtained from 31 Argyll Road, London, W8 7DA.
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Page 6 |