David Clarke Estate Agents Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04659531 (England and Wales)

DAVID CLARKE ESTATE AGENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Intangible assets

4

-

6,338

Tangible assets

5

1,892,255

1,683,951

1,892,255

1,690,289

CURRENT ASSETS

Debtors

6

1,957

3,005

Cash at bank and in hand

402,641

521,032

404,598

524,037

CREDITORS

Amounts falling due within one year

7

431,970

496,522

NET CURRENT (LIABILITIES)/ASSETS

(27,372

)

27,515

TOTAL ASSETS LESS CURRENT LIABILITIES

1,864,883

1,717,804

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

1,864,881

1,717,802

SHAREHOLDERS' FUNDS

1,864,883

1,717,804

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 19 June 2018 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

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current 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 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 4 (2016 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2017

and 31 December 2017

95,000

AMORTISATION

At 1 January 2017

88,662

Amortisation for year

6,338

At 31 December 2017

95,000

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

6,338

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 January 2017

1,782,398

61,900

650

Additions

249,500

-

-

At 31 December 2017

2,031,898

61,900

650

DEPRECIATION

At 1 January 2017

139,796

26,424

638

Charge for year

40,486

4,392

3

At 31 December 2017

180,282

30,816

641

NET BOOK VALUE

At 31 December 2017

1,851,616

31,084

9

At 31 December 2016

1,642,602

35,476

12

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2017

43,301

15,367

-

1,903,616

Additions

-

-

6,868

256,368

At 31 December 2017

43,301

15,367

6,868

2,159,984

DEPRECIATION

At 1 January 2017

39,014

13,793

-

219,665

Charge for year

2,790

393

-

48,064

At 31 December 2017

41,804

14,186

-

267,729

NET BOOK VALUE

At 31 December 2017

1,497

1,181

6,868

1,892,255

At 31 December 2016

4,287

1,574

-

1,683,951

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,116

-

Sundry debtors

-

1,879

Prepayments

841

1,126

1,957

3,005

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Corporation Tax

46,165

52,968

Social security and other taxes

2,975

3,770

VAT

14,531

12,610

Sundry creditors

167,663

124,037

Pension creditor

772

-

Directors' current accounts

197,718

301,288

Accrued expenses

2,146

1,849

431,970

496,522

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

9.

RESERVES

Retained

earnings

£

At 1 January 2017

1,717,802

Profit for the year

147,079

At 31 December 2017

1,864,881

10.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed:-

To Paul Clarke, the director, £197,719 (2016: £301,288),

To David Clarke Lettings Limited, a company under common control, £167,662 (2016: £124,037).

11.	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.