Registered number: 13562349
DADS ESTATES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 28 FEBRUARY 2023
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DADS ESTATES LIMITED
REGISTERED NUMBER: 13562349
STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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DADS ESTATES LIMITED
REGISTERED NUMBER: 13562349
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023
The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 November 2023.
The notes on pages 4 to 7 form part of these financial statements.
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DADS ESTATES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 28 FEBRUARY 2023
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Shares issued during the period
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Dividends: Equity capital
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The notes on pages 4 to 7 form part of these financial statements.
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DADS ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023
DADS Estates Limited is a private company limited by shares and is incorporated in England. The address of the registered office is 5 Mayfield Gardens, Hendon, London, United Kingdom, NW4 2PY.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Intragroup management fees
Revenue is recognised in respect of the provision of management services and expenses incurred in connection with the operation of group companies. Management fees receivable are recognised evenly as the services are rendered to the corresponding group entity.
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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DADS ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans from related parties and investments in ordinary shares.
Equity dividends are recognised when they become legally payable.
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The average monthly number of employees, including directors, during the period was 0 (2022 - 0).
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Investments in subsidiary companies
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Amounts owed by group undertakings
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Prepayments and accrued income
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DADS ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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The bank loans are secured by a fixed and floating charge over the group's investment properties and all other assets. A limited personal guarantee has also been provided by the company's director in respect of the bank loans.
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DADS ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023
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Analysis of the maturity of loans is given below:
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Amounts falling due after more than 5 years
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Allotted, called up and fully paid
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996 (2022 - 996) Ordinary shares of £0.10 each
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3 (2022 - 3) A Ordinary Shares shares of £0.10 each
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All shares rank pari passu except that the holders of each share class are entitled to receive dividend payments of different amounts on each class of share or a dividend payable on one class of share to the exclusion of the other class, Ordinary A shares hold no voting rights and Ordinary A shares receive no surplus on the distribution of assets in the event of liquidation.
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Related party transactions
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The Company has taken advantage of the exemptions provided by "Financial Reporting Standard 102" not to disclose transactions with the entities wholly owned within the group.
The Company has not entered into any material transactions with related parties that have not been conducted under normal market conditions.
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