ACCOUNTS - Final Accounts

DEEPDALE PROJECT LIMITED - Company Information

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Registered number: 10894865

DEEPDALE PROJECT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2019

DEEPDALE PROJECT LIMITED

REGISTERED NUMBER: 10894865

BALANCE SHEET

AS AT 31 AUGUST 2019

		2019		2018
Note		£		£


CURRENT ASSETS
Debtors: amounts falling due within one year	4	1,134,171		145,242
Cash at bank and in hand	5	204,377		35,258
		1,338,548		180,500
Creditors: amounts falling due within one year	6	(1,338,678)		(182,001)
NET CURRENT LIABILITIES			(130)		(1,501)
TOTAL ASSETS LESS CURRENT LIABILITIES			(130)		(1,501)

NET LIABILITIES			(130)		(1,501)

CAPITAL AND RESERVES
Called up share capital	100	100
Profit and loss account	(230)	(1,601)
	(130)	(1,501)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 May 2020.

R. Eliasov

Director

The notes on pages 2 to 4 form part of these financial statements.

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DEEPDALE PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

1.	GENERAL INFORMATION

Deepdale Project Limited is a private company limited by shares, incorporated in England and Wales, registration number 10894865. The address of the registered office is 7th Floor, Cardinal Place, 100 Victoria Street, London, United Kingdom, SW1E 5JL.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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DEEPDALE PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

2.ACCOUNTING POLICIES (CONTINUED)

2.6

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 Profit and loss account.

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 of the recoverable amount, 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.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2018 - 2).

DEBTORS

					2019	2018
					£	£


Other debtors	2,472	14,810
Accrued income	1,131,699	130,432
	1,134,171	145,242

5.	CASH AND CASH EQUIVALENTS
		2019	2018
		£	£

	Cash at bank and in hand	204,377	35,258

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DEEPDALE PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

6.	CREDITORS: Amounts falling due within one year
		2019	2018
		£	£

Trade creditors	31,003	-
Other creditors	1,281,397	181,000
Accruals and deferred income	26,278	1,001
	1,338,678	182,001

7.	RELATED PARTY TRANSACTIONS
	At the balance sheet date an amount of £1,281,397 (2018: £181,000) was due to a director and shareholder. The loan is unsecured and interest free.

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