For the year ended 31 May 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 05124910
DK&L Properties
For the year ended 31 May 2016
1
Balance Sheet
2 to 4
Notes to the Abbreviated Financial Statements
Notes to the Abbreviated Financial Statements
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DK&L Properties
For the year ended 31 May 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
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Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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Fixtures and Fittings
No depreciation is provided on the company
'
s freehold properties since in the opinion of the directors
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the expected useful lives are sufficiently long and the estimated residual values are sufficiently high
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that any such depreciation would be immaterial
.
The directors undertake an annual impairment review
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of these properties
.
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Provisions are recognised when the company has a present obligation as a result of a past event
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which it is more probable than not will result in an outflow of economic benefits that can be reasonably
|
estimated
.
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2 of 4
Notes to the Abbreviated Financial Statements
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DK&L Properties
For the year ended 31 May 2016
2
Intangible fixed assets
|
105
105
105
105
453,057
453,057
111
20
Charge for year
131
452,926
452,946
4
Fixed asset investments
|
110,200
110,200
110,200
-
3 of 4
Notes to the Abbreviated Financial Statements
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DK&L Properties
For the year ended 31 May 2016
2015
2016
5
Creditors due after more than one year
|
332,404
332,404
Bank loans and overdrafts (secured)
Allotted called up and fully paid
|
2016
2015
100
Ordinary shares of £
1
.
00
each
|
100
100
100
100
4 of 4