Company Registration No. 09591760 (England and Wales)
DAMTEY LTD
Unaudited accounts
for the year ended 31 May 2023
DAMTEY LTD
Unaudited accounts
Contents
DAMTEY LTD
Company Information
for the year ended 31 May 2023
Director
Adedamola Adesiyan
Company Number
09591760 (England and Wales)
Registered Office
47 Round Top Close
Cliffewoods
Rochester
Kent
ME3 8GZ
Accountants
Olaando Consulting Ltd
7 Bell Yard
London
WC2A 2JR
DAMTEY LTD
Statement of financial position
as at 31 May 2023
Cash at bank and in hand
314
5,984
Creditors: amounts falling due within one year
(71,336)
(58,778)
Net current liabilities
(59,012)
(48,535)
Total assets less current liabilities
(2,577)
6,465
Creditors: amounts falling due after more than one year
(20,229)
(21,402)
Net liabilities
(22,806)
(14,937)
Called up share capital
1,000
1,000
Profit and loss account
(23,806)
(15,937)
Shareholders' funds
(22,806)
(14,937)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 February 2024 and were signed on its behalf by
Adedamola Adesiyan
Director
Company Registration No. 09591760
DAMTEY LTD
Notes to the Accounts
for the year ended 31 May 2023
DAMTEY LTD is a private company, limited by shares, registered in England and Wales, registration number 09591760. The registered office is 47 Round Top Close, Cliffewoods, Rochester, Kent, ME3 8GZ .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4
Investments
Other investments
Valuation at 1 June 2022
55,000
Valuation at 31 May 2023
56,435
Damtey Ltd invested the sum of £45,000 in Greensacpe Partners LLP for purchase of property at Auction. Damtey Ltd received £20,000 from the investment in Greensacpe Partners LLP during the year ended 31 May 2022 leaving a balance of £25,000. Additional investment of £1,435 was made during the year ended 31 May 2023.
Damtey Ltd will partake in the profit sharing with other partners when the property is disposed. Damtey Ltd is one of the partners in Greensacpe Partners LLP.
Damtey Ltd invested the sum of £30,000 into Brickstone Partners LLP during the financial year ended 31 May 2020. This investment is still held by Damtey Ltd as at the end of the financial year. Damtey Ltd will partake in profit sharing when the property is disposed.
Amounts falling due within one year
Other debtors
12,010
4,259
DAMTEY LTD
Notes to the Accounts
for the year ended 31 May 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
2,380
2,518
Loans from directors
61,154
48,736
The bank loan of £2,380 relates to amount payable within one year on the bounce back loan.
7
Creditors: amounts falling due after more than one year
2023
2022
The bank loan of £20,229 relates to amounts due after one year on the bounce back loan.
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
9
Transactions with related parties
Damtey Ltd has an Investment of £26,435 in Greensacpe Partners LLP. Damtey Ltd is a partner in Greensacpe Partners LLP.
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).