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REGISTERED NUMBER: 03550150 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

DEMANKA (BRAINTREE) LIMITED

DEMANKA (BRAINTREE) LIMITED (REGISTERED NUMBER: 03550150)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DEMANKA (BRAINTREE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mrs D J Bishop
Mrs E J Berrecloth





SECRETARY: Mrs D J Bishop





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





REGISTERED NUMBER: 03550150 (England and Wales)





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

DEMANKA (BRAINTREE) LIMITED (REGISTERED NUMBER: 03550150)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 600,000 600,000

CURRENT ASSETS
Debtors 5 - 15,436
Cash at bank 67,240 33,485
67,240 48,921
CREDITORS
Amounts falling due within one year 6 38,715 47,037
NET CURRENT ASSETS 28,525 1,884
TOTAL ASSETS LESS CURRENT
LIABILITIES

628,525

601,884

PROVISIONS FOR LIABILITIES 7 62,021 62,021
NET ASSETS 566,504 539,863

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 566,502 539,861
SHAREHOLDERS' FUNDS 566,504 539,863

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

DEMANKA (BRAINTREE) LIMITED (REGISTERED NUMBER: 03550150)

BALANCE SHEET - continued
30 SEPTEMBER 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 3 February 2024 and were signed on its behalf by:




Mrs D J Bishop - Director



Mrs E J Berrecloth - Director


DEMANKA (BRAINTREE) LIMITED (REGISTERED NUMBER: 03550150)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Demanka (Braintree) 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
The financial statements have been prepared under the historical cost convention as modified to include the revaluation of the freehold property at its fair value.

These financial statements are the first produced in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 October 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

Significant judgements and estimates
In the opinion of the directors, the value of the company's Investment Property at 30 September 2023 is £600,000

Investment property
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.

DEMANKA (BRAINTREE) LIMITED (REGISTERED NUMBER: 03550150)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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.


DEMANKA (BRAINTREE) LIMITED (REGISTERED NUMBER: 03550150)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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 October 2022
and 30 September 2023 600,000
NET BOOK VALUE
At 30 September 2023 600,000
At 30 September 2022 600,000

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2017 326,426
Cost 273,574
600,000

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

2023 2022
£    £   
Cost 273,574 273,574

The investment property was valued on an open market basis on 30 September 2017 by Nicholas Percival Limited .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 15,436

DEMANKA (BRAINTREE) LIMITED (REGISTERED NUMBER: 03550150)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 241
Taxation and social security 6,638 6,694
Other creditors 32,077 40,102
38,715 47,037

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 62,021 62,021

Deferred
tax
£   
Balance at 1 October 2022 62,021
Balance at 30 September 2023 62,021

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
20 Ordinary 10p 2 2

9. RESERVES
Retained
earnings
£   

At 1 October 2022 539,861
Profit for the year 26,641
At 30 September 2023 566,502

Included within profit and loss reserves is an amount of £264,405 which is non-distributable as this relates to investment property revaluation, net of deferred taxation.

DEMANKA (BRAINTREE) LIMITED (REGISTERED NUMBER: 03550150)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
Mrs D J Bishop
Balance outstanding at start of year (1,285 ) (246 )
Amounts advanced (7,821 ) 1
Amounts repaid (1,040 ) (1,040 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,146 ) (1,285 )

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs D J Bishop.