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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 |
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DELL GRANT INVESTMENTS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 |
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FOR |
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DELL GRANT INVESTMENTS LIMITED |
DELL GRANT INVESTMENTS LIMITED (REGISTERED NUMBER: 04189711) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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DELL GRANT INVESTMENTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2021 |
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DIRECTOR: |
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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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20 Harcourt Street |
London |
W1H 4HG |
DELL GRANT INVESTMENTS LIMITED (REGISTERED NUMBER: 04189711) |
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STATEMENT OF FINANCIAL POSITION |
31 MARCH 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 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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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings | 12 |
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SHAREHOLDERS' FUNDS |
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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. |
DELL GRANT INVESTMENTS LIMITED (REGISTERED NUMBER: 04189711) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2021 |
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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 director and authorised for issue on
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DELL GRANT INVESTMENTS LIMITED (REGISTERED NUMBER: 04189711) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
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1. | STATUTORY INFORMATION |
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Dell Grant Investments Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents rent receivable and recharges to tenants. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investment properties |
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognized in profit and loss account. |
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The method and significant assumptions used to ascertain the fair value at the balance sheet date and fair value movement included in the profit for the year are as follows: |
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Properties are valued by the director in consultation with estate agents Property Bank. |
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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 statement of financial position 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 statement of financial position 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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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DELL GRANT INVESTMENTS LIMITED (REGISTERED NUMBER: 04189711) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
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COST |
At 1 April 2020 |
and 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
and 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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Depreciation (other than investment properties) is provided at 15% on cost in order to write off each asset over its estimated life. |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2020 |
and 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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Fair value at 31 March 2021 is represented by: |
£ |
Valuation in 2015 | 194,470 |
Valuation in 2017 | 223,562 |
Valuation in 2018 | (39,005 | ) |
Valuation in 2019 | (80,995 | ) |
Valuation in 2020 | 18,990 |
Cost | 571,968 |
888,990 |
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Investment properties were valued on an open market basis on 19 November 2020 by Director . |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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DELL GRANT INVESTMENTS LIMITED (REGISTERED NUMBER: 04189711) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2021 | 2020 |
£ | £ |
Bank loans |
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The bank loan is secured by a fixed and floating charge over the company's assets. |
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10. | FINANCIAL INSTRUMENTS |
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Financial liabilities are obligations to pay cash and are recognized when the company becomes party to the contractual provisions of the instrument. |
All financial liabilities are recorded initially at fair value, net of direct issue costs and subsequently measured at amortized cost using the effective interest method. Interest related charges are recognized as an expense in the finance cost of the income statement. |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 |
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12. | RESERVES |
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The profit and loss reserves include fair value gains on investment property. These amounts are non distributable and as at 31 March 2021 these stood at £256,788. (2020: £256,788). |
DELL GRANT INVESTMENTS LIMITED (REGISTERED NUMBER: 04189711) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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13. | RELATED PARTY DISCLOSURES |
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Mr A. K. Verma is a director and shareholder of the company and has provided a loan to the company which bears no interest and is repayable on demand. The amount outstanding as at 31 March 2021 was £199,854.(2020: £201,813). |
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Transactions with Related Party |
During the year the net movement on directors loan amounted to repayments in the sum of £1,959. |
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14. | ULTIMATE CONTROLLING PARTY |
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By virtue of their beneficial interest in the issued share capital of the company Mrs R Sofat, Mrs S Varma and Mr and Mrs Verma are the Ultimate Controlling Party. |