REGISTERED NUMBER:
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DAN EVANS(BARRY)LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST JULY 2020 |
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REGISTERED NUMBER:
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DAN EVANS(BARRY)LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST JULY 2020 |
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DAN EVANS(BARRY)LIMITED (REGISTERED NUMBER: 00556169) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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DAN EVANS(BARRY)LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST JULY 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Tudor House |
16 Cathedral Road |
Cardiff |
CF11 9LJ |
DAN EVANS(BARRY)LIMITED (REGISTERED NUMBER: 00556169) |
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BALANCE SHEET |
31ST JULY 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve |
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Other reserves |
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Retained earnings |
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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. |
DAN EVANS(BARRY)LIMITED (REGISTERED NUMBER: 00556169) |
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BALANCE SHEET - continued |
31ST JULY 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
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DAN EVANS(BARRY)LIMITED (REGISTERED NUMBER: 00556169) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2020 |
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1. | STATUTORY INFORMATION |
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Dan Evans(Barry)limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The COVID-19 pandemic has had a significant negative impact on the UK economy, and whilst the consequences of COVID-19 on the company has been limited during the year and since the year end, the directors recognise that in the longer term its effect may be more significant. At this point in time any long-term effect -on the company is unknown, but the directors remain confident of the financial position of the company. The directors believe that the company has sufficient reserves to withstand any further economic downturns created by the pandemic and are confident that it is correct to prepare the accounts on a going concern basis. |
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Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: |
- The valuation of the company's freehold investment properties. |
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Turnover |
Turnover comprises rent, insurance and service charge receivable exclusive of value added tax. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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DAN EVANS(BARRY)LIMITED (REGISTERED NUMBER: 00556169) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2020 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Repairs and maintenance |
In the absence of a specific intention by the board of either a disposition or substantial reconstruction of letting units in investment properties, all expenditure incurred on general repair, maintenance and upgrade is written off as incurred. It is the opinion of the board that the nature of the company's property ownership is such that any appreciation in value is due to the passage of time rather than intent to improve as policy and is as such reflected through the revaluation reserve. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1st August 2019 |
and 31st July 2020 |
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NET BOOK VALUE |
At 31st July 2020 |
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At 31st July 2019 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1st August 2019 |
and 31st July 2020 |
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NET BOOK VALUE |
At 31st July 2020 |
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At 31st July 2019 |
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DAN EVANS(BARRY)LIMITED (REGISTERED NUMBER: 00556169) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2020 |
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5. | INVESTMENT PROPERTY - continued |
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Fair value at 31st July 2020 is represented by: |
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Valuation in 2019 | (1,266,233 | ) |
Cost | 2,366,233 |
1,100,000 |
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If the investment property had not been revalued it would have been included at the following historical cost: |
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2020 | 2019 |
£ | £ |
Cost | 2,633,233 | 2,366,533 |
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Investment property was valued on an open market basis basis on 31st July 2019 by by an appropriately qualified third party . |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Amounts owed to group undertakings |
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Amounts owed to associates | 504,595 | 504,595 |
Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans |
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DAN EVANS(BARRY)LIMITED (REGISTERED NUMBER: 00556169) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2020 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Bank overdrafts |
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Bank loans |
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The bank loan and overdraft are secured on the company's investment property. |
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10. | RELATED PARTY DISCLOSURES |
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Included in other creditors is £504,595 (2019 £504,59) due to a company in which the directors are significant but not controlling directors and shareholders. the amount due is interest free, unsecured and with no specific terms for repayment. |