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Company Registration number: 08643608

Dane Property Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Dane Property Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Dane Property Limited

(Registration number: 08643608)
Statement of Financial Position as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

350,000

350,000

Current assets

 

Debtors

5

5,829

5,833

Cash at bank and in hand

 

43,062

83,224

 

48,891

89,057

Creditors: Amounts falling due within one year

6

(329,829)

(379,814)

Net current liabilities

 

(280,938)

(290,757)

Net assets

 

69,062

59,243

Capital and reserves

 

Called up share capital

7

100,000

100,000

Other reserves

20,070

20,070

Retained earnings

(51,008)

(60,827)

Shareholders' funds

 

69,062

59,243

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 22 January 2024 and signed on its behalf by:
 

.........................................
P D Dane
Director

 

Dane Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
First Floor
2 Collingwood Street
Newcastle upon Tyne
NE1 1JF

These financial statements were authorised for issue by the Board on 22 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared on the historical cost basis, as modified by the revaluation of the investment property measured at fair value through profit or loss.

Th financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rental income in the ordinary course of the company’s activities. Turnover is shown net of value added tax and discounts.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measured on an on-going basis.

 

Dane Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Financial instruments


A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Investment properties

2023
£

At 1 July

350,000

At 30 June

350,000

The historical cost of assets included in investment property held at valuation is £329,930 (2022: £329,930).

The investment properties were appraised at 30 June 2023 by the directors. Investment property has been appraised by taking into account various assumptions regarding yield of the property, with further appraisal taking place with regards to recent market activity of similar properties within the properties location. This appraisal has been critically reviewed by the Directors and the assumptions therein considered appropriate. This has then provided the basis of the valuation in the accounts at 30 June 2023.

In the prior year, the market value of the property was deemed to be the same as the current market valuation.

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

-

1,416

Amounts owed by group undertakings

8

4,136

4,136

Other debtors

 

1,693

281

   

5,829

5,833

 

Dane Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

5,949

937

Amounts owed to group undertakings

8

317,042

371,711

Taxation and social security

 

881

1,210

Accruals and deferred income

 

5,957

5,956

 

329,829

379,814

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100,000

100,000

100,000

100,000

         

8

Related party transactions

Related party transactions with group undertakings have not been disclosed in accordance with the exemption conferred by Financial Reporting Standard 102 section 33.

9

Parent and ultimate parent undertaking

The company's immediate parent is Dane & Co., Limited, incorporated in England and Wales.

  These financial statements are available upon request from First Floor, 2 Collingwood Street, Newcastle Upon Tyne, NE1 1JF.