Company registration number:
Dragon Properties (Wales) Limited
for the Year Ended 31 July 2023
Dragon Properties (Wales) Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Dragon Properties (Wales) Limited
Company Information
Directors |
Mr T Hayes Mrs J Hatton Mrs J Hayes |
Company secretary |
Mrs J Hayes |
Registered office |
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Accountants |
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Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Dragon Properties (Wales) Limited
for the Year Ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dragon Properties (Wales) Limited for the year ended 31 July 2023 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of Dragon Properties (Wales) Limited, as a body, in accordance with the terms of our engagement letter dated 19 May 2020. Our work has been undertaken solely to prepare for your approval the accounts of Dragon Properties (Wales) Limited and state those matters that we have agreed to state to the Board of Directors of Dragon Properties (Wales) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dragon Properties (Wales) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Dragon Properties (Wales) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Dragon Properties (Wales) Limited. You consider that Dragon Properties (Wales) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Dragon Properties (Wales) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Certified Accountants
St. Helens
Merseyside
WA9 1UA
Dragon Properties (Wales) Limited
(Registration number: 05516200)
Balance Sheet as at 31 July 2023
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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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( |
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Net current liabilities |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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Provisions for liabilities |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Fair value reserve |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 July 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 Profit and Loss Account.
Dragon Properties (Wales) Limited
(Registration number: 05516200)
Balance Sheet as at 31 July 2023
Approved and authorised by the
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Dragon Properties (Wales) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
Wales
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 and investment properties measured at fair value through profit and loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises the fair value of rents receivable in the year.
Deferred Tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Investment property
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
measurable on an on-going basis.
Dragon Properties (Wales) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
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 August |
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At 31 July |
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The company's investment properties are stated at the open market value as at 31 July 2023, as
valued by the directors.
Debtors |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Corporation tax |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Due after one year |
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Bank loans and overdrafts |
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Creditors include a bank loan of £17,131 (2022: £24,371 ) which is secured on the property to which it relates.