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Registration number: 12442924

Dillon Property Investment Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Dillon Property Investment Ltd

(Registration number: 12442924)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

857,284

389,767

Current assets

 

Other financial assets

5

71,922

290,000

Cash at bank and in hand

 

8,071

21,685

 

79,993

311,685

Creditors: Amounts falling due within one year

6

(11,357)

(6,917)

Net current assets

 

68,636

304,768

Total assets less current liabilities

 

925,920

694,535

Creditors: Amounts falling due after more than one year

6

(965,000)

(695,000)

Net liabilities

 

(39,080)

(465)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(39,180)

(565)

Shareholders' deficit

 

(39,080)

(465)

For the financial year ending 28 February 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 November 2023 and signed on its behalf by:
 

.........................................
N F Dillon
Director

 

Dillon Property Investment Ltd

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

1

General information

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

The address of its registered office is:
Second Floor
1 Church Terrace
Richmond
Surrey
TW10 6SE
United Kingdom

These financial statements were authorised for issue by the Board on 27 November 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis. The directors consider this appropriate, notwithstanding the deficit of net assets, as the company's activity is funded by loans from the directors (and a company controlled by the directors) which they do not intend to withdraw in the foreseeable future.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors and periodically by external valuers. Changes in fair value are recognised in profit or loss.

Investments

Traded securities are carried at fair value, derived from current market prices. Changes in fair value are recognised in profit or loss.

 

Dillon Property Investment Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 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 0 (2022 - 0).

4

Investment properties

2023
£

At 1 March 2022

389,767

Additions

457,284

Fair value adjustments

10,233

At 28 February 2023

857,284

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

5

Other financial assets (current and non-current)

Financial assets at fair value
£

Total
£

Current financial assets

Cost or valuation

At 1 March 2022

290,000

290,000

Fair value adjustments

(39,769)

(39,769)

Additions

1,706

1,706

Disposals

(180,015)

(180,015)

At 28 February 2023

71,922

71,922

Carrying amount

At 28 February 2023

71,922

71,922

 

Dillon Property Investment Ltd

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

7,779

5,186

Other creditors

3,578

1,731

11,357

6,917

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

965,000

695,000

Creditors include loans of £965,000 not repayable by instalments and due after more than five years. These consist of loans of £695,000 from a company controlled by the directors and bearing interest at a commercial rate, and an interest-free loan of £270,000 from the directors.

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

965,000

695,000