Silverfin false false 31/08/2023 01/09/2022 31/08/2023 J Burden 12/03/2020 P Burden 12/03/2020 05 February 2024 The principal activity of the Company during the financial period was that of letting of owned real estate 12513354 2023-08-31 12513354 bus:Director1 2023-08-31 12513354 bus:Director2 2023-08-31 12513354 2022-08-31 12513354 core:CurrentFinancialInstruments 2023-08-31 12513354 core:CurrentFinancialInstruments 2022-08-31 12513354 core:Non-currentFinancialInstruments 2023-08-31 12513354 core:Non-currentFinancialInstruments 2022-08-31 12513354 core:ShareCapital 2023-08-31 12513354 core:ShareCapital 2022-08-31 12513354 core:RetainedEarningsAccumulatedLosses 2023-08-31 12513354 core:RetainedEarningsAccumulatedLosses 2022-08-31 12513354 core:InvestmentPropertyIncludedWithinPPE 2022-08-31 12513354 core:InvestmentPropertyIncludedWithinPPE 2023-08-31 12513354 core:MoreThanFiveYears 2023-08-31 12513354 core:MoreThanFiveYears 2022-08-31 12513354 2022-09-01 2023-08-31 12513354 bus:FilletedAccounts 2022-09-01 2023-08-31 12513354 bus:SmallEntities 2022-09-01 2023-08-31 12513354 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 12513354 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12513354 bus:Director1 2022-09-01 2023-08-31 12513354 bus:Director2 2022-09-01 2023-08-31 12513354 2021-09-01 2022-08-31 12513354 core:Non-currentFinancialInstruments 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Company No: 12513354 (England and Wales)

DARGEO RESIDENTIAL LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

DARGEO RESIDENTIAL LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

DARGEO RESIDENTIAL LIMITED

BALANCE SHEET

As at 31 August 2023
DARGEO RESIDENTIAL LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 960,957 960,957
960,957 960,957
Current assets
Debtors 4 795 0
Cash at bank and in hand 20,599 18,813
21,394 18,813
Creditors: amounts falling due within one year 5 ( 290,237) ( 292,111)
Net current liabilities (268,843) (273,298)
Total assets less current liabilities 692,114 687,659
Creditors: amounts falling due after more than one year 6 ( 674,210) ( 674,210)
Net assets 17,904 13,449
Capital and reserves
Called-up share capital 1 1
Profit and loss account 17,903 13,448
Total shareholders' funds 17,904 13,449

For the financial year ending 31 August 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 Dargeo Residential Limited (registered number: 12513354) were approved and authorised for issue by the Board of Directors on 05 February 2024. They were signed on its behalf by:

P Burden
Director
DARGEO RESIDENTIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
DARGEO RESIDENTIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

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

General information and basis of accounting

Dargeo Residential Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Rd, Poole, BH15 2PW, England, United Kingdom. The principal place of business is Stoney Down Lane, Corfe Mullen, Wimborne, Dorset, BH21 3RT.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items 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 £.

Turnover

Turnover represents rental income excluding value added tax. Rental income is accounted for in the period in which it relates.

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.

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:

Investment property not depreciated

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.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

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 that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

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

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Investment property Total
£ £
Cost
At 01 September 2022 960,957 960,957
At 31 August 2023 960,957 960,957
Accumulated depreciation
At 01 September 2022 0 0
At 31 August 2023 0 0
Net book value
At 31 August 2023 960,957 960,957
At 31 August 2022 960,957 960,957

4. Debtors

2023 2022
£ £
Trade debtors 795 0

5. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 1,045 3,158
Other creditors 289,192 288,953
290,237 292,111

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

2023 2022
£ £
Bank loans (secured) 674,210 674,210

Bank loans are secured against the properties to which they relate

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

2023 2022
£ £
Bank loans (secured) 674,210 561,730