DUNWARD_PROPERTIES_LIMITE - Accounts


Company Registration No. 04126074 (England and Wales)
DUNWARD PROPERTIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
DUNWARD PROPERTIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
DUNWARD PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
6,121,533
5,969,455
Investments
2
1,200
1,000
6,122,733
5,970,455
Current assets
Stocks
3,471,400
2,812,392
Debtors
1,546,814
515,316
Cash at bank and in hand
2,067,348
293,954
7,085,562
3,621,662
Creditors: amounts falling due within one year
3
(2,953,143)
(631,891)
Net current assets
4,132,419
2,989,771
Total assets less current liabilities
10,255,152
8,960,226
Creditors: amounts falling due after more than one year
4
(6,426,863)
(6,056,469)
Provisions for liabilities
(511)
(540)
3,827,778
2,903,217
Capital and reserves
Called up share capital
5
1,000
1,000
Revaluation reserve
1,187,289
1,035,060
Profit and loss account
2,639,489
1,867,157
Shareholders'  funds
3,827,778
2,903,217
DUNWARD PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2014
31 December 2014
- 2 -
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 16 June 2015
Mr D Watson
Director
Company Registration No. 04126074
DUNWARD PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets include investment properties valued on an existing use open market value basis. Other tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.
1.8
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006  not to prepare group accounts.
DUNWARD PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost or valuation
At 1 January 2014
5,976,630
1,000
5,977,630
Additions
936
200
1,136
Revaluation
152,229
-
152,229
At 31 December 2014
6,129,795
1,200
6,130,995
Depreciation
At 1 January 2014
7,175
-
7,175
Charge for the year
1,087
-
1,087
At 31 December 2014
8,262
-
8,262
Net book value
At 31 December 2014
6,121,533
1,200
6,122,733
At 31 December 2013
5,969,455
1,000
5,970,455
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Dunward Investments Limited
England
Ordinary
100.00
Dunward York Road Limited
England
Ordinary
100.00
Dunward Battersea Rise Limited
England
Ordinary
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2014
2014
Principal activity
£
£
Dunward Investments Limited
Property rental
4,061,481
400,579
Dunward York Road Limited
Property development
-
-
Dunward Battersea Rise Limited
Property development
-
-

Dunward York Road Limited was incorporated on 3 March 2014 and the first accounts will cover the period to 31 March 2015. Dunward Battersea Rise Limited was incorporated on 25 April 2014 and the first accounts will cover the period to 30 April 2015.

DUNWARD PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 5 -
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £205,265 (2013 - £246,563).
4
Creditors: amounts falling due after more than one year
2014
2013
£
£
Analysis of loans repayable in more than five years
Total not repayable by instalments and due in more than five years
210,000
1,185,426
Total amounts repayable by instalments which are due in more than five years
274,787
1,087,616
The aggregate amount of creditors for which security has been given amounted to £4,575,860 (2013 - £5,803,271).
5
Share capital
2014
2013
£
£
Allotted, called up and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
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