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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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DULWICH STORAGE COMPANY LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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FOR |
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DULWICH STORAGE COMPANY LIMITED |
DULWICH STORAGE COMPANY LIMITED (REGISTERED NUMBER: 01614539) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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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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DULWICH STORAGE COMPANY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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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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trading as |
Peter Jarman & Company |
1 Harbour House |
Harbour Way |
Shoreham by Sea |
West Sussex |
BN43 5HZ |
DULWICH STORAGE COMPANY LIMITED (REGISTERED NUMBER: 01614539) |
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BALANCE SHEET |
31 DECEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Investments | 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 ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital reserve |
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Fair value reserve | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
DULWICH STORAGE COMPANY LIMITED (REGISTERED NUMBER: 01614539) |
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BALANCE SHEET - continued |
31 DECEMBER 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
were signed on its behalf by: |
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DULWICH STORAGE COMPANY LIMITED (REGISTERED NUMBER: 01614539) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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1. | STATUTORY INFORMATION |
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Dulwich Storage Company Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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The company's land and buildings assets consists entirely of land which has not been depreciated. |
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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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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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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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Investments |
The company trades in investments and the investments are shown as current assets at market value. |
DULWICH STORAGE COMPANY LIMITED (REGISTERED NUMBER: 01614539) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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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. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2019 |
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Additions |
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Disposals | ( |
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( |
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At 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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6. | CURRENT ASSET INVESTMENTS |
2019 | 2018 |
£ | £ |
Listed investments | 880,543 | 465,754 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Taxation and social security |
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Other creditors |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
DULWICH STORAGE COMPANY LIMITED (REGISTERED NUMBER: 01614539) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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9. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax | 388,650 | 347,067 |
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Deferred |
tax |
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Balance at 1 January 2019 |
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Capital allowances in advance |
of depreciation | (1,654 | ) |
Capital Gain rolled over | (6,078 | ) |
Revaluation of listed |
investments | 21,702 |
Losses c/f | 27,613 |
Balance at 31 December 2019 |
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The provision for deferred taxation is derived from timing differences between the accounting and tax treatment |
of certain fixed assets in respect of capital allowances in advance of depreciation of £8,551 (2018:£10,205), a |
provision of deferred tax on revaluation of listed investments of £100,136 (2018:£78,434) and a provision for tax |
on chargeable gains rolled over into replacement assets of £330,090 (2018: £336,168) . |
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In addition, there is unprovided deferred tax of £Nil (2018: £28,456) in respect of chargeable gains rolled over |
into replacement assets when in the opinion of the directors, the liability will not arise in the foreseeable future. |
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10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 January 2019 |
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Movements in the year | 92,518 |
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At 31 December 2019 |
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11. | RELATED PARTY DISCLOSURES |
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In the previous years, the company loaned Dulwich Piano Company Ltd. £4,200 (2017:£4,200). A T Hanton, the |
company's director is also a director in Dulwich Piano Company Ltd.This amount of £4,200 is still outstanding |
as at the year end. |
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During the year, the company loaned £1,000,000 (2018:£0) to Woodlands Investment Management Limited. |
This amount is still outstanding as at the year end. |
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AT Hanton, the company's director is also a director and controlling shareholder in Woodlands Investment |
Management Limited. |