Company Registration No. 08607354 (England and Wales)
DAVID PETERS (PROPERTY) LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
DAVID PETERS (PROPERTY) LIMITED
COMPANY INFORMATION
Director
S Peters
Company number
08607354
Registered office
Couchfield Farm
Wadesmill Road
Ware
Herts
SG12 0EX
Accountants
Myers Clark
Egale 1
80 St Albans Road
Watford
Hertfordshire
WD17 1DL
DAVID PETERS (PROPERTY) LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Statement of income and retained earnings
3
Balance sheet
4
Notes to the financial statements
5
DAVID PETERS (PROPERTY) LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2020
- 1 -
The director presents her annual report and financial statements for the year ended 31 March 2020.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
S Peters
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
S Peters
Director
17 December 2020
DAVID PETERS (PROPERTY) LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DAVID PETERS (PROPERTY) LIMITED FOR THE YEAR ENDED 31 MARCH 2020
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of David Peters (Property) Limited for the year ended 31 March 2020 set out on pages 3 to 5 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 David Peters (Property) Limited, as a body, in accordance with the terms of our engagement letter dated 12 March 2014. Our work has been undertaken solely to prepare for your approval the financial statements of David Peters (Property) Limited
and state those matters that we have agreed to state to the Board of Directors of David Peters (Property) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than David Peters (Property) Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that David Peters (Property) 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 result
of David Peters (Property) Limited. You consider that David Peters (Property) Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of David Peters (Property) Limited. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Myers Clark
22 December 2020
Chartered Accountants
Egale 1
80 St Albans Road
Watford
Hertfordshire
WD17 1DL
DAVID PETERS (PROPERTY) LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2020
- 3 -
2020
2019
£
£
Administrative expenses
-
847,847
Profit before taxation
-
847,847
Tax on profit
-
-
Profit for the financial year
-
847,847
Retained earnings brought forward
(2)
(1,800)
Dividends
-
(846,049)
Retained earnings carried forward
(2)
(2)
DAVID PETERS (PROPERTY) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2020
31 March 2020
- 4 -
2020
2019
Notes
£
£
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(2)
(2)
Total equity
-
-
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 17 December 2020
S Peters
Director
Company Registration No. 08607354
DAVID PETERS (PROPERTY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 5 -
1
Accounting policies
Company information
David Peters (Property) Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Couchfield Farm, Wadesmill Road, Ware, Herts, SG12 0EX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
1.3
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
DAVID PETERS (PROPERTY) LIMITED
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 MARCH 2020