David Clarke Estate Agents Limited - Accounts to registrar (filleted) - small 18.2

David Clarke Estate Agents Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 04659531(England and Wales)















DAVID CLARKE ESTATE AGENTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019






DAVID CLARKE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04659531)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DAVID CLARKE ESTATE AGENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2019







DIRECTOR: Mr P Clarke





REGISTERED OFFICE: 112 High Street
Herne Bay
Kent
CT6 5JY





REGISTERED NUMBER: 04659531(England and Wales)





ACCOUNTANTS: Spurling Cannon
King Arthur’s Court
Maidstone Road
Charing
Kent
TN27 0JS

DAVID CLARKE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04659531)

BALANCE SHEET
31 DECEMBER 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,302,702 2,359,547
2,302,702 2,359,547

CURRENT ASSETS
Debtors 6 12,058 7,412
Cash at bank and in hand 848,542 613,284
860,600 620,696
CREDITORS
Amounts falling due within one year 7 1,031,089 915,176
NET CURRENT LIABILITIES (170,489 ) (294,480 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,132,213

2,065,067

DAVID CLARKE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04659531)

BALANCE SHEET - continued
31 DECEMBER 2019

2019 2018
Notes £    £    £    £   

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,132,211 2,065,065
SHAREHOLDERS' FUNDS 2,132,213 2,065,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 June 2020and were signed by:





Mr P Clarke- Director


DAVID CLARKE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04659531)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

1. STATUTORY INFORMATION

David Clarke Estate Agents 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.

2. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained
Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in
equity.

Current 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6(2018 - 8) .

DAVID CLARKE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04659531)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2019
and 31 December 2019 95,000
AMORTISATION
At 1 January 2019
and 31 December 2019 95,000
NET BOOK VALUE
At 31 December 2019 -
At 31 December 2018 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 January 2019 2,546,648 61,900 650
Additions - - -
At 31 December 2019 2,546,648 61,900 650
DEPRECIATION
At 1 January 2019 220,958 35,208 643
Charge for year 51,009 5,166 2
At 31 December 2019 271,967 40,374 645
NET BOOK VALUE
At 31 December 2019 2,274,681 21,526 5
At 31 December 2018 2,325,690 26,692 7

DAVID CLARKE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04659531)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2019 43,301 15,367 6,868 2,674,734
Additions - - 1,500 1,500
At 31 December 2019 43,301 15,367 8,368 2,676,234
DEPRECIATION
At 1 January 2019 40,893 14,481 3,004 315,187
Charge for year 603 222 1,343 58,345
At 31 December 2019 41,496 14,703 4,347 373,532
NET BOOK VALUE
At 31 December 2019 1,805 664 4,021 2,302,702
At 31 December 2018 2,408 886 3,864 2,359,547

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 11,203 2,823
Sundry debtors - 3,635
Prepayments 855 954
12,058 7,412

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Bank loans and overdrafts 658,596 658,596
Corporation Tax 28,941 57,914
Social security and other taxes 8,928 3,068
VAT 23,504 30,224
Sundry creditors 145,028 -
Pension creditor 143 320
Directors' current accounts 163,804 162,909
Accrued expenses 2,145 2,145
1,031,089 915,176

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed:-

To Paul Clarke, the director, £163,804 (2018: £162,909).

DAVID CLARKE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04659531)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P Clarke.

The company is ultimately controlled by Mr P Clarke, the sole director who holds 100% of the issued share
capital of the company.