Company Registration No. 01379306 (England and Wales)
DAWNDALE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
DAWNDALE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
DAWNDALE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,140,000
3,140,000
Current assets
Debtors
645,398
503,125
Cash at bank and in hand
4,939
43,286
650,337
546,411
Creditors: amounts falling due within one year
(87,377)
(80,241)
Net current assets
562,960
466,170
Total assets less current liabilities
3,702,960
3,606,170
Capital and reserves
Called up share capital
3
500
500
Revaluation reserve
3,014,617
3,014,617
Profit and loss account
687,843
591,053
Shareholders' funds
3,702,960
3,606,170
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 September 2016
Mr W G V Hall
Director
Company Registration No. 01379306
DAWNDALE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings 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 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:
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 January 2015), 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 directors 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.
Investment properties and completed developments are included in the financial statements at open market value and are shown under land and buildings in fixed assets. Revaluations are conducted annually and any surpluses or deficits are transferred to the revaluation reserve. Properties acquired and held for development are shown at cost under development works in progress.
1.5
Deferred taxation
No provision has been made for deferred tax on gains recognised on revaluing property to its market value as the company does not intend to sell the revalued asset.
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 April 2015 & at 31 March 2016
3,140,000
At 31 March 2015
3,140,000
DAWNDALE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
500 Ordinary shares of £1 each
500
500
4
Ultimate parent company
The company is a wholly owned subsidiary of Springvale Properties Limited, incorporated in England and Wales.
The directors regard W G V Hall as the ultimate controlling party by virtue of his controlling interest in the issued share capital of Springvale Properties Limited.