Dacorar (Southern) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04708315 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

FOR

DACORAR (SOUTHERN) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

N R S Bostock

Mrs J R Bostock

C J Whelan

REGISTERED OFFICE:

Aberdeen House

South Road

Haywards Heath

West Sussex

RH16 4NG

REGISTERED NUMBER:

04708315 (England and Wales)

ACCOUNTANTS:

D A CLARK & CO. LTD.

Bailey House

4-10 Barttelot Road

Horsham

West Sussex

RH12 1DQ

CURRENT ASSETS

Stocks

3

6,434,508

6,685,755

Debtors

4

52,034

164,431

Ferndown Syndicate

5

1,290,089

-

Cash at bank

4,029,257

92,161

11,805,888

6,942,347

CREDITORS

Amounts falling due within one year

6

3,296,126

3,059,484

NET CURRENT ASSETS

8,509,762

3,882,863

TOTAL ASSETS LESS CURRENT LIABILITIES

8,509,762

3,882,863

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

8,509,761

3,882,862

SHAREHOLDERS' FUNDS

8,509,762

3,882,863

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 April 2021 and were signed on its behalf by:

N R S Bostock - 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.

Turnover

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

3.

STOCKS

30.6.20

30.6.19

£

£

Stocks

6,434,508

6,685,755

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade debtors

-

13,800

Amounts owed by group undertakings

15,653

3,918

Other debtors

4,510

-

Loan to Ferndown Syndicate

30,430

-

VAT

-

129,463

Prepayments and accrued income

1,441

17,250

52,034

164,431

5.	CURRENT ASSET INVESTMENTS

30.6.20

30.6.19

£

£

Ferndown Syndicate

1,290,089

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade creditors

2,813

142,283

Amounts owed to group undertakings

1,100,000

2,165,394

Tax

1,562,186

749,272

VAT

589,428

-

Accruals and deferred income

41,699

2,535

3,296,126

3,059,484

7.	RELATED PARTY DISCLOSURES

The ultimate holding company is Dacorar Limited. The total balance of £1,100,000 (2019: £2,165,394) is owed to Dacorar Limited at the year end.

A balance of £15,653 (2019: £3,918) is owed from Dacorar Southern Management Limited, a group company.

Within sales are receipts of £69,029 (2019: £204,651) received from Fairbridge Developments Limited of which Mr C J Whelan is a director.

Included within purchases (2019: other professional fees) there are management fees of £45,613 (2019: £209,151) for services provided on normal commercial terms by Glenbeigh Developments Ltd a company under the common control of the director Mr C J Whelan.