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Unaudited Financial Statements for the Year Ended 29 February 2020 |
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Deco Design and Build Co. Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 29 February 2020 |
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for |
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Deco Design and Build Co. Limited |
Deco Design and Build Co. Limited (Registered number: 03703623) |
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Contents of the Financial Statements |
for the Year Ended 29 February 2020 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Deco Design and Build Co. Limited |
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Company Information |
for the Year Ended 29 February 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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31 Churchgate Way |
Terrington St Clement |
King's Lynn |
Norfolk |
PE34 4PG |
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BANKERS: |
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Bromley Branch |
12 Elmfield Road |
Bromley |
Kent |
BR1 1LP |
Deco Design and Build Co. Limited (Registered number: 03703623) |
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Abridged Balance Sheet |
29 February 2020 |
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29.2.20 | 28.2.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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Deco Design and Build Co. Limited (Registered number: 03703623) |
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Abridged Balance Sheet - continued |
29 February 2020 |
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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. |
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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
signed on its behalf by: |
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Deco Design and Build Co. Limited (Registered number: 03703623) |
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Notes to the Financial Statements |
for the Year Ended 29 February 2020 |
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1. | STATUTORY INFORMATION |
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Deco Design and Build Co. Limited is a
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England and Wales. 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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Plant and machinery | - |
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Office furniture and fittings | - |
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Motor vehicles | - |
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Office equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Work in progress |
Work in progress is valued at the lower of cost or net realisable value. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the |
Statement of Income and Retained Earnings, 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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Deco Design and Build Co. Limited (Registered number: 03703623) |
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Notes to the Financial Statements - continued |
for the Year Ended 29 February 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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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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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 |
Totals |
£ |
COST |
At 1 March 2019 |
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Additions |
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Disposals | ( |
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At 29 February 2020 |
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DEPRECIATION |
At 1 March 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 29 February 2020 |
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NET BOOK VALUE |
At 29 February 2020 |
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At 28 February 2019 |
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Deco Design and Build Co. Limited (Registered number: 03703623) |
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Notes to the Financial Statements - continued |
for the Year Ended 29 February 2020 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 March 2019 |
and 29 February 2020 | 3 |
NET BOOK VALUE |
At 29 February 2020 | 3 |
At 28 February 2019 | 3 |
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6. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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29.2.20 | 28.2.19 |
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Bank loans |
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Borrowings are secured by charges over development property owned by the company. |
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7. | PROVISIONS FOR LIABILITIES |
29.2.20 | 28.2.19 |
£ | £ |
Deferred tax | 5,108 | 9,200 |
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Deferred |
tax |
£ |
Balance at 1 March 2019 |
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Utilised during year | ( |
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Balance at 29 February 2020 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.2.20 | 28.2.19 |
value: | £ | £ |
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Ordinary | 1 | 2 | 2 |
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9. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £180,000 (2019 - £180,000) were paid to the directors . |
Deco Design and Build Co. Limited (Registered number: 03703623) |
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Notes to the Financial Statements - continued |
for the Year Ended 29 February 2020 |
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9. | RELATED PARTY DISCLOSURES - continued |
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M Williams and R F Copper, directors of the company, are also directors of Deco |
Investments Limited which is a 100% subsidiary of the company. At 29 February 2020 the |
company was owed £2,047,270 (2019 - £3,586,393) by Deco Investments Limited which is |
interest free and repayable on demand. |
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M Williams and R F Copper are also directors of Deco (Long Lane) Limited and Valentine |
SE1 Limited. Deco (Long Lane) Limited is a 100% subsidiary of Deco Design and Build Co |
Limited and Valentine SE1 Limited is a 75% subsidiary Deco (Long Lane) Limited. As at 29 |
February 2020 the company owed £4,837 (2019 - £4,659) to Deco (Long Lane) Limited |
which is repayable on demand. |
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M Williams is also a director of North Star 2000 Limited. The company recharged North Star |
2000 Limited £100,921(2019 - £145,558) in the year in respect of management charges. At |
29 February 2020 the company owed £257,590 (2019 - £283,332) to North Star Limited |
which is repayable on demand. Interest was charged on this loan amounting to £17,000 |
(2019 - £3,368) as an arms length transaction. |
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Mrs S Copper, wife of R F Copper, is owed £246,629 (2019 - £248,612) at 29 February |
2020 in respect of loan advances which is repayable on demand. Interest was accrued |
amounting to £18,571 (2019 - £24,271). |
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Interest on the Directors loans has been accrued in the accounts for the year and amounts |
to £36,045 (2019 - £49,293). |