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REGISTERED NUMBER: 13129836 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

DALGAGI LIMITED

DALGAGI LIMITED (REGISTERED NUMBER: 13129836)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DALGAGI LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs D L Ross
G M Sher
G L Sher
T Sher
Mrs R Sher





REGISTERED OFFICE: Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX





REGISTERED NUMBER: 13129836 (England and Wales)





ACCOUNTANTS: RICHARD IAN & CO
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

DALGAGI LIMITED (REGISTERED NUMBER: 13129836)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,010,000 3,010,000

CURRENT ASSETS
Debtors 5 1,595 -
Cash at bank 125,954 69,627
127,549 69,627
CREDITORS
Amounts falling due within one year 6 316,623 2,118,420
NET CURRENT LIABILITIES (189,074 ) (2,048,793 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,820,926

961,207

CREDITORS
Amounts falling due after more than one
year

7

(2,700,000

)

(900,000

)

PROVISIONS FOR LIABILITIES 9 (2,687 ) (2,687 )

ACCRUALS AND DEFERRED INCOME (9,500 ) (1,647 )
NET ASSETS 108,739 56,873

CAPITAL AND RESERVES
Called up share capital 10 30 30
Retained earnings 11 108,709 56,843
SHAREHOLDERS' FUNDS 108,739 56,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

DALGAGI LIMITED (REGISTERED NUMBER: 13129836)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 July 2023 and were signed on its behalf by:




T Sher - Director



Mrs D L Ross - Director


DALGAGI LIMITED (REGISTERED NUMBER: 13129836)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Dalgagi 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.

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


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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The directors are of the opinion that the market value of the investments properties are at least equal to the book value.

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.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the end of the financial period.

Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised to the profit and loss account.

DALGAGI LIMITED (REGISTERED NUMBER: 13129836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.


DALGAGI LIMITED (REGISTERED NUMBER: 13129836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 3,010,000
NET BOOK VALUE
At 31 March 2023 3,010,000
At 31 March 2022 3,010,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 14,144
Cost 2,995,856
3,010,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,995,856 2,995,856

Investment properties were valued on an open market basis on 31 March 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,595 -

DALGAGI LIMITED (REGISTERED NUMBER: 13129836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1 -
Taxation and social security 12,166 13,964
Other creditors 304,456 2,104,456
316,623 2,118,420

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 2,700,000 900,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Loan 302,356 2,102,356

The loans are secured by a first legal charge over all of the company's properties.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,687 2,687

Deferred
tax
£   
Balance at 1 April 2022 2,687
Balance at 31 March 2023 2,687

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
30 Ordinary £1 30 30

11. RESERVES

Included within profit and loss reserves is an amount of £11,457 (2022 - £11,457) which is non-distributable as this relates to investment property revaluation, net of deferred taxation.

DALGAGI LIMITED (REGISTERED NUMBER: 13129836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 March 2023 and the period ended 31 March 2022:

2023 2022
£    £   
T Sher and Mrs R Sher
Balance outstanding at start of year (2,102,356 ) -
Amounts advanced - (2,102,356 )
Amounts repaid 1,800,000 -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (302,356 ) (2,102,356 )

Mrs D L Ross
Balance outstanding at start of year (300,000 ) -
Amounts advanced (600,000 ) (300,000 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (900,000 ) (300,000 )

G M Sher
Balance outstanding at start of year (300,000 ) -
Amounts advanced (600,000 ) (300,000 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (900,000 ) (300,000 )

G L Sher
Balance outstanding at start of year (300,000 ) -
Amounts advanced (600,000 ) (300,000 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (900,000 ) (300,000 )