Company registration number 03740050 (England and Wales)
DANPET INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
DANPET INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
DANPET INVESTMENTS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
5
3,055,433
3,130,699
Current assets
Debtors
6
2,518
12,514
Cash at bank and in hand
167,436
264,346
169,954
276,860
Creditors: amounts falling due within one year
7
(1,249,736)
(1,320,639)
Net current liabilities
(1,079,782)
(1,043,779)
Total assets less current liabilities
1,975,651
2,086,920
Provisions for liabilities
(113,356)
(137,390)
Net assets
1,862,295
1,949,530
Capital and reserves
Called up share capital
1,500
1,500
Share premium account
175,744
175,744
Profit and loss reserves
1,685,051
1,772,286
Total equity
1,862,295
1,949,530

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 19 August 2023 and are signed on its behalf by:
P Stafford
Director
Company Registration No. 03740050
DANPET INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Danpet Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wellesley House, Duke of Wellington Avenue, Royal Arsenal, London, SE18 6SS.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
15% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Fair value measurement of financial instruments

Investments in shares are included at fair value, based on their market value at the year end.

1.5
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.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

DANPET INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
4
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 April 2022 and 31 March 2023
2,428
Depreciation and impairment
At 1 April 2022 and 31 March 2023
2,428
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
-
0
5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
3,055,433
3,130,699
Fixed asset investments revalued

The listed investments are stated at market value. The historical cost of the investments is £1,724,753 (2022 £1,620,797).

 

DANPET INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
5
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2022
3,130,699
Additions
168,291
Valuation changes
(236,488)
Disposals
(7,069)
At 31 March 2023
3,055,433
Carrying amount
At 31 March 2023
3,055,433
At 31 March 2022
3,130,699
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
2,518
10,000
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
-
0
2,514
Total debtors
2,518
12,514
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
37
1,254
Taxation and social security
7,762
7,176
Other creditors
1,241,937
1,312,209
1,249,736
1,320,639

The directors have provided funding to the company of £1,111,800 (2022 £1,180,070) which is shown in other creditors. No interest is payable on the loan which is repayable on demand.

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