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REGISTERED NUMBER: 10610040 (England and Wales)









DARA PROPERTY INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






DARA PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10610040)






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


DARA PROPERTY INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Dr D Shah
Dr R Sanghani





SECRETARY: Dr D Shah





REGISTERED OFFICE: Casterbridge
The Thatchway
Angmering
West Sussex
BN16 4HJ





REGISTERED NUMBER: 10610040 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

DARA PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10610040)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 519 649
Investment property 5 953,866 967,000
954,385 967,649

CURRENT ASSETS
Debtors 6 303 3,235
Cash at bank 2,620 2,383
2,923 5,618
CREDITORS
Amounts falling due within one year 7 564,025 430,880
NET CURRENT LIABILITIES (561,102 ) (425,262 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

393,283

542,387

CREDITORS
Amounts falling due after more than one
year

8

442,500

575,278
NET LIABILITIES (49,217 ) (32,891 )

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings (49,219 ) (32,893 )
SHAREHOLDERS' FUNDS (49,217 ) (32,891 )

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.

DARA PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10610040)

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 2 November 2023 and were signed on its behalf by:




Dr R Sanghani - Director



Dr D Shah - Director


DARA PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10610040)

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

1. STATUTORY INFORMATION

Dara Property Investments 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Rental income
Rental income represents rent receivable for the period, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on 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.

Financial instruments
Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved 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.

Deferred tax shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

3. EMPLOYEES AND DIRECTORS

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

DARA PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10610040)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 1,981
DEPRECIATION
At 1 April 2022 1,332
Charge for year 130
At 31 March 2023 1,462
NET BOOK VALUE
At 31 March 2023 519
At 31 March 2022 649

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 967,000
Revaluations (13,134 )
At 31 March 2023 953,866
NET BOOK VALUE
At 31 March 2023 953,866
At 31 March 2022 967,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2018 (86,153 )
Valuation in 2019 (30,000 )
Valuation in 2022 117,000
Valuation in 2023 (13,134 )
Cost 966,153
953,866

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 966,153 966,153

Investment property was valued on an open market basis on 31 March 2023 by its directors .

DARA PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10610040)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 303 3,235

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 31,200 21,422
Amounts owed to group undertakings 523,290 400,290
Other creditors 9,535 9,168
564,025 430,880

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 442,500 575,278

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 473,700 596,700

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

11. ULTIMATE CONTROLLING PARTY

The company is controlled by Dr R Sanghani and Dr D Shah, who own all of the issued share capital.