Silverfin false false 31/07/2023 01/08/2022 31/07/2023 Mrs H Dunn 13/07/2021 Mr R Dunn 13/07/2021 30 January 2024 The principal activity of the Company during the financial period was that of furnished holiday letting and property management. SC704063 2023-07-31 SC704063 bus:Director1 2023-07-31 SC704063 bus:Director2 2023-07-31 SC704063 2022-07-31 SC704063 core:CurrentFinancialInstruments 2023-07-31 SC704063 core:CurrentFinancialInstruments 2022-07-31 SC704063 core:Non-currentFinancialInstruments 2023-07-31 SC704063 core:Non-currentFinancialInstruments 2022-07-31 SC704063 core:ShareCapital 2023-07-31 SC704063 core:ShareCapital 2022-07-31 SC704063 core:RevaluationReserve 2023-07-31 SC704063 core:RevaluationReserve 2022-07-31 SC704063 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC704063 core:RetainedEarningsAccumulatedLosses 2022-07-31 SC704063 core:FurnitureFittings 2022-07-31 SC704063 core:ComputerEquipment 2022-07-31 SC704063 core:FurnitureFittings 2023-07-31 SC704063 core:ComputerEquipment 2023-07-31 SC704063 core:MoreThanFiveYears 2023-07-31 SC704063 core:MoreThanFiveYears 2022-07-31 SC704063 bus:OrdinaryShareClass1 2023-07-31 SC704063 2022-08-01 2023-07-31 SC704063 bus:FilletedAccounts 2022-08-01 2023-07-31 SC704063 bus:SmallEntities 2022-08-01 2023-07-31 SC704063 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 SC704063 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC704063 bus:Director1 2022-08-01 2023-07-31 SC704063 bus:Director2 2022-08-01 2023-07-31 SC704063 core:FurnitureFittings 2022-08-01 2023-07-31 SC704063 core:ComputerEquipment 2022-08-01 2023-07-31 SC704063 2021-07-13 2022-07-31 SC704063 core:Non-currentFinancialInstruments 2022-08-01 2023-07-31 SC704063 core:MoreThanFiveYears 2022-08-01 2023-07-31 SC704063 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 SC704063 bus:OrdinaryShareClass1 2021-07-13 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC704063 (Scotland)

DUNN HARDY LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD ENDED 31 JULY 2023
PAGES FOR FILING WITH THE REGISTRAR

DUNN HARDY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD ENDED 31 JULY 2023

Contents

DUNN HARDY LIMITED

BALANCE SHEET

AS AT 31 JULY 2023
DUNN HARDY LIMITED

BALANCE SHEET (continued)

AS AT 31 JULY 2023
Note 31.07.2023 31.07.2022
£ £
Fixed assets
Tangible assets 3 7,506 3,767
Investment property 4 100,000 100,000
107,506 103,767
Current assets
Debtors 5 0 323
Cash at bank and in hand 4,246 5,950
4,246 6,273
Creditors: amounts falling due within one year 6 ( 15,334) ( 21,258)
Net current liabilities (11,088) (14,985)
Total assets less current liabilities 96,418 88,782
Creditors: amounts falling due after more than one year 7 ( 75,765) ( 75,765)
Provision for liabilities 8 ( 7,518) ( 5,641)
Net assets 13,135 7,376
Capital and reserves
Called-up share capital 9 100 100
Revaluation reserve 16,923 16,923
Profit and loss account ( 3,888 ) ( 9,647 )
Total shareholders' funds 13,135 7,376

For the financial period ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Dunn Hardy Limited (registered number: SC704063) were approved and authorised for issue by the Director on 30 January 2024. They were signed on its behalf by:

Mr R Dunn
Director
DUNN HARDY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD ENDED 31 JULY 2023
DUNN HARDY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD ENDED 31 JULY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Dunn Hardy Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 1/1 227 West George Street, Glasgow, G2 2ND, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include include investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that although the business has net assets of £13,135 it has net current liabilities of £11,088. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The reporting period to 31 July 2023 covers a period of 12 months. The prior period to 31 July 2022 covers a period of 13 months from the date of incorporation, this is a slightly longer period due to it being the first set of accounts prepared since incorporation. This therefore means that the comparative amounts presented in the financial statements, including the related notes, are not entirely comparable.

Turnover

Turnover is recognised at the fair value of the consideration receivable for rent.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 15 % reducing balance
Computer equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and loans, are recognised at transaction price.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Year ended
31.07.2023
Period from
13.07.2021 to
31.07.2022
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 2

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 August 2022 3,932 0 3,932
Additions 1,560 2,877 4,437
At 31 July 2023 5,492 2,877 8,369
Accumulated depreciation
At 01 August 2022 165 0 165
Charge for the financial period 650 48 698
At 31 July 2023 815 48 863
Net book value
At 31 July 2023 4,677 2,829 7,506
At 31 July 2022 3,767 0 3,767

4. Investment property

Investment property
£
Valuation
As at 01 August 2022 100,000
As at 31 July 2023 100,000

Valuation

Investment property comprises of one property. The fair value is determined annually by the directors, on an open market value for existing use basis.

5. Debtors

31.07.2023 31.07.2022
£ £
Other debtors 0 323

6. Creditors: amounts falling due within one year

31.07.2023 31.07.2022
£ £
Other creditors 15,334 21,258

7. Creditors: amounts falling due after more than one year

31.07.2023 31.07.2022
£ £
Bank loans (secured) 75,765 75,765

The bank loans are secured against the assets to which it relates.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

31.07.2023 31.07.2022
£ £
Bank loans (secured) 75,765 75,765

The bank loans are secured against the assets to which it relates.

8. Provision for liabilities

31.07.2023 31.07.2022
£ £
Deferred tax 7,518 5,641

9. Called-up share capital

31.07.2023 31.07.2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Related party transactions

Transactions with the entity's directors

31.07.2023 31.07.2022
£ £
Amounts owed to key management personnel 13,406 18,617

The amount owed is interest free and repayable on demand.