Registered number:
Unaudited
Information for filing with the registrar
For the period ended
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Daysmith Investments Limited
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Daysmith Investments Limited for the period ended 30 June 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Daysmith Investments Limited for the period ended 30 June 2019 which comprise the Balance sheet
and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/
members/regulations-standards-and-guidance/
.
This report is made solely to the Board of directors of Daysmith Investments Limited, as a body, in accordance with the terms of our engagement letter dated
29 October 2018. Our work has been undertaken solely
to prepare for your approval the financial statements of Daysmith Investments Limited and state those matters that we have agreed to state to the Board of directors of Daysmith Investments Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Daysmith Investments Limited and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that Daysmith Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Daysmith Investments Limited. You consider that Daysmith Investments Limited is exempt from the statutory audit requirement for the period.
Chartered Accountants
37 St Margaret's Street
Kent
CT1 2TU
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Daysmith Investments Limited
Registered number:
11523323
Balance sheet
As at
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 3 to 6 form part of these financial statements.
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Daysmith Investments Limited
Notes to the financial statements
For the period ended 30 June 2019
Daysmith Investments Limited is a private company limited by shares which was incorporated in England and Wales.
The company's registered office is 37, St Margaret's Street, Canterbury, Kent, CT1 2TU. The financial statements are presented in Pounds Sterling, and rounded to the nearest pound.
2.
Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
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Daysmith Investments Limited
Notes to the financial statements
For the period ended 30 June 2019
2.
Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Daysmith Investments Limited
Notes to the financial statements
For the period ended 30 June 2019
The 2019 valuations were made by the directors, on an open market value for existing use basis.
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Daysmith Investments Limited
Notes to the financial statements
For the period ended 30 June 2019
On incorporation 1 Ordinary share of £1 was issued at par.
Daysmith Limited is the controlling party by virtue of its 100% shareholding. Daysmith Limited has no ultimate controlling party.
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