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Unaudited Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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Derede Associates Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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Derede Associates Limited |
Derede Associates Limited (Registered number: 04146724) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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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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Derede Associates Limited |
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Company Information |
for the Year Ended 31 December 2018 |
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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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14a Waterside Business Park |
Livingstone Road |
Hessle |
East Yorkshire |
HU13 0EG |
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BANKERS: |
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34 King Edward Street |
Hull |
East Yorkshire |
HU1 3SS |
Derede Associates Limited (Registered number: 04146724) |
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Abridged Balance Sheet |
31 December 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Amounts recoverable on service contracts |
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Debtors |
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Cash at bank and in hand |
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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 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
Derede Associates Limited (Registered number: 04146724) |
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Abridged Balance Sheet - continued |
31 December 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director on
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Derede Associates Limited (Registered number: 04146724) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Derede Associates Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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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 net invoiced sales of services adjusted for WIP, excluding Value Added Tax. |
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Revenue recognition |
Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company |
receives a right to consideration from its performance. |
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Part completed contracts at the year-end fulfill the criteria are included in these financial statements based on |
their fair value of the right to consideration at the balance sheet date. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine |
whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the |
recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where |
it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount |
of the cash-generating unit to which the asset belongs. |
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Stocks |
Stocks are valued at the lower of costs and net realisable value, after making due allowance for obsolete and |
slow moving items. Overheads are charged to profit and loss as incurred. Net realisable value is based on the |
estimated selling price less any estimated completion or selling costs. |
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When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which its |
related revenue is recognised. The amount of any write-down of stocks to net realisable value and losses of |
stocks are recognised as an expenses in the period in which the write-down or loss occurs. The amount of any |
reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an |
expense in the period in which the reversal occurs. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
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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Derede Associates Limited (Registered number: 04146724) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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 January 2018 |
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Additions |
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Disposals | ( |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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Derede Associates Limited (Registered number: 04146724) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
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COST OR VALUATION |
At 1 January 2018 | 33,560 |
Revaluations | 922 |
At 31 December 2018 | 34,482 |
NET BOOK VALUE |
At 31 December 2018 | 34,482 |
At 31 December 2017 | 33,560 |
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Cost or valuation at 31 December 2018 is represented by: |
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Valuation in 2014 | 30,335 |
Valuation in 2015 | 1,095 |
Valuation in 2016 | 1,122 |
Valuation in 2017 | 1,008 |
Valuation in 2018 | 922 |
34,482 |
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If £30,000 had not been revalued it would have been included at the following historical cost: |
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31.12.18 | 31.12.17 |
£ | £ |
Cost | 30,000 | 30,000 |
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£30,000 was valued on an open market value basis on 31 December 2018 by Prudential . |
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6. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.18 | 31.12.17 |
£ | £ |
Within one year |
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Between one and five years |
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Derede Associates Limited (Registered number: 04146724) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.18 | 31.12.17 |
£ | £ |
Bank overdraft |
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Bank loans |
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8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 December 2018 and |
31 December 2017: |
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31.12.18 | 31.12.17 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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9. | ULTIMATE CONTROLLING PARTY |
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Mr. R E Thompson has ultimate control of the company. |