Company Registration number:
Dane Property Limited
for the Year Ended 30 June 2023
Dane Property Limited
Contents
Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Dane Property Limited
(Registration number: 08643608)
Statement of Financial Position as at 30 June 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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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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Net current liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100,000 |
100,000 |
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Other reserves |
20,070 |
20,070 |
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Retained earnings |
(51,008) |
(60,827) |
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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:
• |
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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 Property 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 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 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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2023 |
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At 1 July |
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At 30 June |
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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.
Debtors |
Current |
Note |
2023 |
2022 |
Trade debtors |
- |
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Amounts owed by group undertakings |
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Other debtors |
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Dane Property 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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100,000 |
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100,000 |
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.
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.