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Registration number: 08131912

Daleside Estates Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Daleside Estates Limited

(Registration number: 08131912)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

44,390

37,817

Investment property

4

-

390,000

 

44,390

427,817

Current assets

 

Debtors

5

141,657

406,751

Cash at bank and in hand

 

377,111

250,441

 

518,768

657,192

Creditors: Amounts falling due within one year

6

(262,802)

(570,240)

Net current assets

 

255,966

86,952

Total assets less current liabilities

 

300,356

514,769

Creditors: Amounts falling due after more than one year

6

(287,610)

(1,395,610)

Net assets/(liabilities)

 

12,746

(880,841)

Capital and reserves

 

Called up share capital

7

890,002

2

Profit and loss account

(877,256)

(880,843)

Shareholders' funds/(deficit)

 

12,746

(880,841)

For the financial year ending 31 December 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 and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

 

Daleside Estates Limited

(Registration number: 08131912)

Balance Sheet as at 31 December 2023 (continued)

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 12 March 2024 and signed on its behalf by:
 

.........................................

Mr A J B Smith
Director

 

Daleside Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

Accounting policies

Statutory information

Daleside Estates Limited is a private company, limited by shares, domiciled in England and Wales, company number 08131912. The registered office is at Pegasus House, 463a Glossop Road, Sheffield, S10 2QD.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Going concern

After due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fixture and fittings

20% straight line

Motor vehicles

25% straight line

 

Daleside Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

1

Accounting policies (continued)

Computer equipment

25% straight line

Land and buildings

not depreciated

Investment property

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The surplus or deficit on revaluation is recognised in the profit and loss account and accumulated in the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Daleside Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

3

Tangible assets

Computer equipment
£

Furniture, fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

1,469

3,948

15,897

61,111

82,425

Additions

-

-

-

29,690

29,690

Disposals

-

-

-

(14,233)

(14,233)

At 31 December 2023

1,469

3,948

15,897

76,568

97,882

Depreciation

At 1 January 2023

1,469

3,948

3,974

35,217

44,608

Charge for the year

-

-

3,975

19,142

23,117

Eliminated on disposal

-

-

-

(14,233)

(14,233)

At 31 December 2023

1,469

3,948

7,949

40,126

53,492

Carrying amount

At 31 December 2023

-

-

7,948

36,442

44,390

At 31 December 2022

-

-

11,923

25,894

37,817

4

Investment properties

2023
£

At 1 January 2023

390,000

Disposals

(390,000)

At 31 December 2023

-

5

Debtors

2023
£

2022
£

Trade debtors

-

960

Prepayments

5,556

3,574

Other debtors

136,101

402,217

141,657

406,751

 

Daleside Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

6

Creditors

2023
£

2022
£

Due within one year

Other creditors

242,749

540,009

Trade creditors

12,188

20,863

Taxation and social security

5,367

5,424

Accruals and deferred income

2,498

3,944

262,802

570,240

2023
£

2022
£

Due after one year

Loans and borrowings

-

418,000

Amounts owed to related undertakings

287,610

977,610

287,610

1,395,610

7

Share capital

On 30th November 2023 the company issued a total of £890,000 ordinary shares of £1 each to Chelsea Estates Limited in exchange for the release of debt due to Chelsea Estates Limited.

8

Related party transactions

During the year the company owed balances of £20,523 (2022: £6,166) to Birkett Estates Limited and £305,470 (2022 : £977,610) to Chelsea Estates Limited. The loans are interest free. Both companies are registered in Guernsey, Channel Islands and are shareholders in the company.

During the year the directors had interest free loans with the company. At the balance sheet date the amount due to A J B Smith was £16,973 (2022 : £3,322) and from N J B Smith was £2,586 (2022 : £7,232).