Company Registration number:
Dane Finance Limited
for the Year Ended 30 June 2023
Dane Finance Limited
Contents
Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Dane Finance Limited
(Registration number: 08643582)
Statement of Financial Position as at 30 June 2023
Note |
2023 |
2022 |
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Current assets |
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Debtors |
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Investments |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
(91,161) |
(328,797) |
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Shareholders' deficit |
(91,160) |
(328,796) |
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:
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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
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Dane Finance Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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 using the historical cost convention, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents contractual interest in line with the term and size of the loan. Interest income is recognised on the accruals basis over the term of the loan.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Dane Finance Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)
2 |
Accounting policies (continued) |
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 in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation.
Financial instruments
Recognition and measurement
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.
When investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Dane Finance Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)
Debtors |
Current |
Note |
2023 |
2022 |
Trade debtors |
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Amounts owed by group undertakings |
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Prepayments |
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Other debtors |
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Details of non-current trade and other debtors
£3,628,468 (2022: £4,522,398) of Trade Debtors is classified as non current.
Current asset investments |
2023 |
2022 |
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Short-term deposits |
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Current asset investments are liquid resources that represent the company's investment portfolio of listed equities held as funds for diversification, development and expansion of the company's business. The book cost at the balance sheet date was £2,034,516 (2022: £1,999,445).
Dane Finance Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Related party transactions |
Summary of transactions with all subsidiaries
Related party transactions with group undertakings have not been disclosed in accordance with the exemption conferred by Financial Reporting Standard 102 section 33.
Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from First Floor, 2 Collingwood Street, Newcastle Upon Tyne, NE1 1JF.