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REGISTERED NUMBER: 03092723 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 August 2021

for

Darfields Limited

Darfields Limited (Registered number: 03092723)






Contents of the Financial Statements
for the year ended 31 August 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Darfields Limited

Company Information
for the year ended 31 August 2021







DIRECTOR: R Causey





SECRETARY: S Hughes





REGISTERED OFFICE: Adelphi Chambers
30 Hoghton Street
Southport
Merseyside
PR9 0NZ





REGISTERED NUMBER: 03092723 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
Adelphi Chambers
30 Hoghton Street
Southport
Merseyside
PR9 0NZ

Darfields Limited (Registered number: 03092723)

Balance Sheet
31 August 2021

2021 2020
Notes £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 101,619 118,229
Investment property 6 940,000 1,373,000
1,041,619 1,491,229

CURRENT ASSETS
Stocks 7 12,800 12,100
Debtors 8 67,809 101,482
Cash at bank and in hand 1,065,809 578,367
1,146,418 691,949
CREDITORS
Amounts falling due within one year 9 (231,467 ) (239,730 )
NET CURRENT ASSETS 914,951 452,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,956,570

1,943,448

PROVISIONS FOR LIABILITIES 10 (23,834 ) (21,558 )
NET ASSETS 1,932,736 1,921,890

CAPITAL AND RESERVES
Called up share capital 11 100 100
Share premium 116,739 116,739
Fair value reserve 12 42,268 82,631
Retained earnings 1,773,629 1,722,420
SHAREHOLDERS' FUNDS 1,932,736 1,921,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 August 2022 and were signed by:




R Causey - Director


Darfields Limited (Registered number: 03092723)

Notes to the Financial Statements
for the year ended 31 August 2021

1. STATUTORY INFORMATION

Darfields Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

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.

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.

Darfields Limited (Registered number: 03092723)

Notes to the Financial Statements - continued
for the year ended 31 August 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 September 2020
and 31 August 2021 80,000
AMORTISATION
At 1 September 2020
and 31 August 2021 80,000
NET BOOK VALUE
At 31 August 2021 -
At 31 August 2020 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£ £ £
COST
At 1 September 2020 25,161 236,646 4,831
Additions - 4,167 -
At 31 August 2021 25,161 240,813 4,831
DEPRECIATION
At 1 September 2020 20,395 179,543 4,664
Charge for year 477 9,035 25
At 31 August 2021 20,872 188,578 4,689
NET BOOK VALUE
At 31 August 2021 4,289 52,235 142
At 31 August 2020 4,766 57,103 167

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 September 2020 81,160 4,130 351,928
Additions - - 4,167
At 31 August 2021 81,160 4,130 356,095
DEPRECIATION
At 1 September 2020 24,982 4,115 233,699
Charge for year 11,235 5 20,777
At 31 August 2021 36,217 4,120 254,476
NET BOOK VALUE
At 31 August 2021 44,943 10 101,619
At 31 August 2020 56,178 15 118,229

Darfields Limited (Registered number: 03092723)

Notes to the Financial Statements - continued
for the year ended 31 August 2021

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 September 2020 1,373,000
Disposals (433,000 )
At 31 August 2021 940,000
NET BOOK VALUE
At 31 August 2021 940,000
At 31 August 2020 1,373,000

7. STOCKS
2021 2020
£ £
Stocks 4,900 5,400
Work-in-progress 7,900 6,700
12,800 12,100

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade debtors 63,225 92,086
Other debtors - 5,557
Prepayments & accrued income 4,584 3,839
67,809 101,482

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Hire purchase contracts - 2,222
Trade creditors 6,961 5,571
Taxation and social security 33,770 51,038
Other creditors 190,736 180,899
231,467 239,730

10. PROVISIONS FOR LIABILITIES
2021 2020
£ £
Deferred tax 23,834 21,558

Deferred tax
£
Balance at 1 September 2020 21,558
Capital allowances 2,649
On Property (373 )
Balance at 31 August 2021 23,834

Darfields Limited (Registered number: 03092723)

Notes to the Financial Statements - continued
for the year ended 31 August 2021

11. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £ £
100 Ordinary £1 100 100

12. RESERVES
Fair value
reserve
£
At 1 September 2020 82,631
Transfer from Profit & Loss (40,736 )
Deferred Tax 373

At 31 August 2021 42,268