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Company No: 09600295 (England and Wales)

DANJOLST LIMITED

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

DANJOLST LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

DANJOLST LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2023
DANJOLST LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2023
DIRECTORS J L Sutton
J A G Walduck
S L Walduck
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
United Kingdom
COMPANY NUMBER 09600295 (England and Wales)
DANJOLST LIMITED

BALANCE SHEET

As at 31 May 2023
DANJOLST LIMITED

BALANCE SHEET (continued)

As at 31 May 2023
Note 2023 2022
£ £
Restated - note 2
Fixed assets
Investments 4 6,167,331 6,446,955
6,167,331 6,446,955
Current assets
Debtors 5 2,827 2
Cash at bank and in hand 8,539 210,034
11,366 210,036
Creditors: amounts falling due within one year 6 ( 415,615) ( 591,053)
Net current liabilities (404,249) (381,017)
Total assets less current liabilities 5,763,082 6,065,938
Net assets 5,763,082 6,065,938
Capital and reserves
Called-up share capital 4,500,002 4,500,002
Profit and loss account 1,263,080 1,565,936
Total shareholders' funds 5,763,082 6,065,938

For the financial year ending 31 May 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 Danjolst Limited (registered number: 09600295) were approved and authorised for issue by the Board of Directors on 19 February 2024. They were signed on its behalf by:

Jason Alexander George Walduck
Director
DANJOLST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
DANJOLST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 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

Danjolst 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 22 Chancery Lane, London, WC2A 1LS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Prior year error

In the prior period, a loan of £400,000 made to the company had been omitted in error, which consequently impacted the accounting entries for the prior year fixed asset investments, creditors falling due within one year, other non-operating income, administrative expenses and taxation. The comparative figures for the year ended 31 May 2022 have therefore been restated. Further information on the correction for each financial statement line item affected has been included in Note 2.

Interest income

Interest on deposits and fixed interest securities are accounted for on an accruals basis.

Dividend income

Dividends are accounted for on an ex-dividend accruals basis.

Taxation

Current tax
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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.

Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes recognised in profit or loss.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Prior year adjustment

As previously reported Adjustment As restated
Year ended 31 May 2022 £ £ £
Fixed asset investments 6,036,034 410,921 6,446,955
Creditors: amount falling due within one year (196,573) (394,480) (591,053)
Other non-operating income 240,972 7,129 248,101
Tax on profit (85) (4,534) (4,619)
Administrative expenses (64,865) 10,054 (54,811)

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year 0 0

4. Fixed asset investments

Listed investments Total
£ £
Carrying value before impairment
At 01 June 2022 6,446,955 6,446,955
Additions 549,753 549,753
Disposals ( 422,375) ( 422,375)
Movement in fair value ( 407,002) ( 407,002)
0 0
At 31 May 2023 6,167,331 6,167,331
Provisions for impairment
At 01 June 2022 0 0
At 31 May 2023 0 0
Carrying value at 31 May 2023 6,167,331 6,167,331
Carrying value at 31 May 2022 6,446,955 6,446,955

The historical cost of listed investments is £6,532,245 (2022 - £6,393,869)

5. Debtors

2023 2022
£ £
Corporation tax 2,825 0
Other debtors 2 2
2,827 2

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 0 154,282
Other creditors 415,615 436,771
415,615 591,053

7. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 13,271) ( 162,934)
Credited to the Profit and Loss Account 13,271 149,663
0 0
At the end of financial year 0 ( 13,271)

8. Related party transactions

Other related party transactions

At 31 May 2023, there was an outstanding loan due to a close family member of one of the directors. The loan is interest free and has no fixed repayment date. During the year, £157,554 (2022: £73,220) of the loan was repaid to the family member by the company. A further loan of £148,469 (2022: £nil) was provided to the related party during the year. At the balance sheet date, the amount due to the family member was £4,203 (2022: 13,288 ).

At 31 May 2023, there was an outstanding loan due to two of the company's shareholders of £400,000 (2022: £400,000). The loan is interest free and repayable on demand.