David Clarke Estate Agents Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 04659531 (England and Wales)

DAVID CLARKE ESTATE AGENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr P Clarke

REGISTERED OFFICE:

112 High Street

Herne Bay

Kent

CT6 5JY

REGISTERED NUMBER:

04659531 (England and Wales)

ACCOUNTANTS:

Spurling Cannon

Chartered Certified Accountants

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

FIXED ASSETS

Intangible assets

4

6,338

12,671

Tangible assets

5

1,683,951

1,570,501

1,690,289

1,583,172

CURRENT ASSETS

Debtors

6

3,005

4,048

Cash at bank and in hand

521,032

419,599

524,037

423,647

CREDITORS

Amounts falling due within one year

7

496,522

448,637

NET CURRENT ASSETS/(LIABILITIES)

27,515

(24,990

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,717,804

1,558,182

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,717,802

1,558,180

SHAREHOLDERS' FUNDS

1,717,804

1,558,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30 June 2017 and were signed by:

Mr P Clarke - Director

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

95,000

AMORTISATION

At 1 January 2016

82,329

Charge for year

6,333

At 31 December 2016

88,662

NET BOOK VALUE

At 31 December 2016

6,338

At 31 December 2015

12,671

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 January 2016

1,614,048

61,900

650

Additions

168,350

-

-

At 31 December 2016

1,782,398

61,900

650

DEPRECIATION

At 1 January 2016

104,129

20,232

634

Charge for year

35,667

6,192

4

Eliminated on disposal

-

-

-

At 31 December 2016

139,796

26,424

638

NET BOOK VALUE

At 31 December 2016

1,642,602

35,476

12

At 31 December 2015

1,509,919

41,668

16

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 January 2016

42,153

37,111

1,755,862

Additions

1,148

-

169,498

Disposals

-

(21,744

)

(21,744

)

At 31 December 2016

43,301

15,367

1,903,616

DEPRECIATION

At 1 January 2016

37,585

22,781

185,361

Charge for year

1,429

3,583

46,875

Eliminated on disposal

-

(12,571

)

(12,571

)

At 31 December 2016

39,014

13,793

219,665

NET BOOK VALUE

At 31 December 2016

4,287

1,574

1,683,951

At 31 December 2015

4,568

14,330

1,570,501

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Other debtors

3,005

4,048

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Taxation and social security

69,348

98,327

Other creditors

427,174

350,310

496,522

448,637

8.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed:-

To Paul Clarke, the director, £301,288 (2015: £172,919),

To David Clarke Lettings Limited, a company under common control, £124,038 (2015: £167,371).

9.	ULTIMATE CONTROLLING PARTY

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

capital of the company.