IRIS Accounts Production v23.1.5.20 11823523 director 1.3.22 28.2.23 28.2.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh118235232022-02-28118235232023-02-28118235232022-03-012023-02-28118235232021-02-28118235232021-03-012022-02-28118235232022-02-2811823523ns15:EnglandWales2022-03-012023-02-2811823523ns14:PoundSterling2022-03-012023-02-2811823523ns10:Director12022-03-012023-02-2811823523ns10:PrivateLimitedCompanyLtd2022-03-012023-02-2811823523ns10:SmallEntities2022-03-012023-02-2811823523ns10:AuditExemptWithAccountantsReport2022-03-012023-02-2811823523ns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2811823523ns10:SmallCompaniesRegimeForAccounts2022-03-012023-02-2811823523ns10:FullAccounts2022-03-012023-02-2811823523ns5:CurrentFinancialInstruments2023-02-2811823523ns5:CurrentFinancialInstruments2022-02-2811823523ns5:Non-currentFinancialInstruments2023-02-2811823523ns5:Non-currentFinancialInstruments2022-02-2811823523ns5:ShareCapital2023-02-2811823523ns5:ShareCapital2022-02-2811823523ns5:FurtherSpecificReserve3ComponentTotalEquity2023-02-2811823523ns5:FurtherSpecificReserve3ComponentTotalEquity2022-02-2811823523ns5:RetainedEarningsAccumulatedLosses2023-02-2811823523ns5:RetainedEarningsAccumulatedLosses2022-02-2811823523ns10:RegisteredOffice2022-03-012023-02-281182352312022-03-012023-02-2811823523ns5:FurnitureFittings2022-03-012023-02-2811823523ns5:FurnitureFittings2022-02-2811823523ns5:FurnitureFittings2023-02-2811823523ns5:FurnitureFittings2022-02-2811823523ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2811823523ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2811823523ns5:Secured2023-02-2811823523ns5:Secured2022-02-2811823523ns5:FurtherSpecificReserve3ComponentTotalEquity2022-02-28
REGISTERED NUMBER: 11823523 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Danlet Limited

Danlet Limited (Registered number: 11823523)

Contents of the Financial Statements
for the Year Ended 28 February 2023










Page

Chartered Accountants' Report 1

Balance Sheet 2

Notes to the Financial Statements 4


Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Danlet Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Director's Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Danlet Limited for the year ended 28 February 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Danlet Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Danlet Limited and state those matters that we have agreed to state to the director of Danlet Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Danlet Limited and its director for our work or for this report.

It is your duty to ensure that Danlet 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 loss of Danlet Limited. You consider that Danlet 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 Danlet 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.






Stephenson Smart (East Anglia) Limited
Chartered Accountants
22-26 King Street
King's Lynn
Norfolk
PE30 1HJ


Date: .............................................

Danlet Limited (Registered number: 11823523)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £ £
Fixed assets
Tangible assets 5 844 1,055
Investment property 6 138,000 130,000
138,844 131,055

Current assets
Debtors 7 5,265 4,078
Cash at bank and in hand 947 713
6,212 4,791
Creditors
Amounts falling due within one year 8 (67,115 ) (64,587 )
Net current liabilities (60,903 ) (59,796 )
Total assets less current liabilities 77,941 71,259

Creditors
Amounts falling due after more than one
year

9

(94,241

)

(86,253

)
Net liabilities (16,300 ) (14,994 )

Capital and reserves
Called up share capital 100 100
Fair value reserve 11 (2,665 ) (4,357 )
Retained earnings (13,735 ) (10,737 )
(16,300 ) (14,994 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Danlet Limited (Registered number: 11823523)

Balance Sheet - continued
28 February 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2023 and were signed by:





Mr D Goldsmith - Director


Danlet Limited (Registered number: 11823523)

Notes to the Financial Statements
for the Year Ended 28 February 2023


1. Statutory information

Danlet Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11823523

Registered office: 22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% p.a. 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.

Danlet Limited (Registered number: 11823523)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Danlet Limited (Registered number: 11823523)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


3. 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.

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.

4. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

5. Tangible fixed assets
Fixtures
and
fittings
£
Cost
At 1 March 2022
and 28 February 2023 1,112
Depreciation
At 1 March 2022 57
Charge for year 211
At 28 February 2023 268
Net book value
At 28 February 2023 844
At 28 February 2022 1,055

Danlet Limited (Registered number: 11823523)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


6. Investment property
Total
£
Fair value
At 1 March 2022 130,000
Additions 5,744
Revaluations 2,256
At 28 February 2023 138,000
Net book value
At 28 February 2023 138,000
At 28 February 2022 130,000

Fair value at 28 February 2023 is represented by:
£
Valuation in 2022 130,000
Valuation in 2023 8,000
138,000

7. Debtors: amounts falling due within one year
28.2.23 28.2.22
£ £
Other debtors 5,265 4,078

8. Creditors: amounts falling due within one year
28.2.23 28.2.22
£ £
Bank loans and overdrafts 3,950 3,070
Other creditors 63,165 61,517
67,115 64,587

9. Creditors: amounts falling due after more than one year
28.2.23 28.2.22
£ £
Bank loans 94,241 86,253

Danlet Limited (Registered number: 11823523)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


10. Secured debts

The following secured debts are included within creditors:

28.2.23 28.2.22
£ £
Bank loans 98,191 89,323

Bank loans and overdrafts are secured on the investment property.

11. Reserves
Fair value
reserve
£
At 1 March 2022 (4,357 )
Transfer to fair value reserve 1,692

At 28 February 2023 (2,665 )

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

12. Related party disclosures

During the year the net transactions with Dan Fab UK Ltd were £1,016. Dan Fab UK Ltd is a company controlled by the director. At the balance sheet date the outstanding balance owed to Dan Fab UK Ltd was £59,577 (2022: £58,561).

During the year there were net transactions with the director of £1,515. At the balance sheet date, the company owed the director £Nil (2022: £1,515).

No further transactions are required to be disclosed under FRS 102 Section 1A.