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Registration number: 12280341

Dale Endeavours Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Dale Endeavours Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Dale Endeavours Limited

Company Information

Directors

Mr D B Dale

Mrs R K Dale

Mr J T J Dale

Mr T J Dale

Registered office

Thorneloe
14 Stephenson Road
Worcester
WR1 3JE

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Dale Endeavours Limited

(Registration number: 12280341)
Balance Sheet as at 31 March 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Tangible assets

4

36,551

48,735

Investment property

5

1,474,379

1,442,571

Other financial assets

6

3,483,817

3,804,160

 

4,994,747

5,295,466

Current assets

 

Debtors

7

91,755

56,057

Cash at bank and in hand

 

822,677

201,772

 

914,432

257,829

Creditors: Amounts falling due within one year

8

(1,180,190)

(530,784)

Net current liabilities

 

(265,758)

(272,955)

Total assets less current liabilities

 

4,728,989

5,022,511

Provisions for liabilities

(138,001)

(177,772)

Net assets

 

4,590,988

4,844,739

Capital and reserves

 

Called up share capital

3,376

3,376

Other reserves

4,012,405

4,012,405

Profit and loss account

575,207

828,958

Shareholders' funds

 

4,590,988

4,844,739

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

 

Dale Endeavours Limited

(Registration number: 12280341)
Balance Sheet as at 31 March 2023

.........................................
Mr D B Dale
Director

   
 

Dale Endeavours Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Thorneloe
14 Stephenson Road
Worcester
WR1 3JE
Great Britain

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Dale Endeavours Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Dale Endeavours Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

10,387

57,190

67,577

At 31 March 2023

10,387

57,190

67,577

Depreciation

At 1 April 2022

4,544

14,297

18,841

Charge for the year

1,461

10,724

12,185

At 31 March 2023

6,005

25,021

31,026

Carrying amount

At 31 March 2023

4,382

32,169

36,551

At 31 March 2022

5,843

42,892

48,735

5

Investment properties

2023
£

At 1 April

1,442,571

Additions

31,808

At 31 March

1,474,379

There has been no valuation of investment property by an independent valuer.

 

Dale Endeavours Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2022

3,801,697

3,801,697

Fair value adjustments

(314,411)

(314,411)

Additions

220,225

220,225

Disposals

(223,694)

(223,694)

At 31 March 2023

3,483,817

3,483,817

Impairment

Carrying amount

At 31 March 2023

3,483,817

3,483,817

7

Debtors

2023
£

(As restated)

2022
£

Trade debtors

820

-

Other debtors

90,935

56,057

Total current trade and other debtors

91,755

56,057

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to related parties

1,168,544

510,544

Taxation and social security

 

447

-

Other creditors

 

11,199

20,240

 

1,180,190

530,784