DINASTY_INVESTMENTS_LIMIT - Accounts

DINASTY INVESTMENTS LIMITED - Company Information

Print Friendly Version

Company Registration No. 00784762 (England and Wales)

DINASTY INVESTMENTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

DINASTY INVESTMENTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

DINASTY INVESTMENTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

1,197,911

Current assets

Debtors

125,341

4,662

Cash at bank and in hand

1,484,682

1,498,902

1,610,023

1,503,564

Creditors: amounts falling due within one year

(67,249)

(27,198)

Net current assets

1,542,774

1,476,366

Total assets less current liabilities

2,740,685

2,674,277

Capital and reserves

Called up share capital

128

Share premium account

699,972

Profit and loss account

2,040,585

1,974,177

Shareholders' funds

2,740,685

2,674,277

For the financial year ended 31 December 2015 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 19 September 2016

S A Jackson

Director

Company Registration No. 00784762

DINASTY INVESTMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

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 January 2015).

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 professionally valued by Chartered Surveyors on an existing use open market value basis. Other tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

Striaght line over 3 years

Investment properties are included in the balance sheet at their open market value. 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

Revenue recognition

Property revenue consists of gross rental income on an accruals basis. Rental income receivable in the period from lease commencement to the earlier of lease expiry and any tenant option to break is spread evenly over that period. Any incentive for lessees to enter into a lease agreement and any costs associated with entering into the lease are spread over the same period.

Revenue in respect of investment and other income represents investment income, fees and commissions earned on an accruals basis and profits or losses recognised on investments held for the short-term. Dividends are recognised when the shareholders' right to receive payment has been established. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate.

1.6

Deferred taxation

Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the director, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.

DINASTY INVESTMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2015 & at 31 December 2015

1,199,028

Depreciation

At 1 January 2015 & at 31 December 2015

1,117

Net book value

At 31 December 2015

1,197,911

At 31 December 2014

1,197,911

Share capital

2015

2014

Allotted, called up and fully paid

97 Ordinary 'A' Shares of £1 each

31 Ordinary 'B' Shares of £1 each

128

Ultimate parent company

The ultimate parent company is Firestand Limited, a company registered in England and Wales. The sole director Mr S A Jackson controls the company by virtue of the fact he owns 100% of the parent company paid up share capital.