S.Dunstan Properties Limited 12467195 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is Estate Agents Digita Accounts Production Advanced 6.30.9574.0 true true 12467195 2023-03-01 2024-02-29 12467195 2024-02-29 12467195 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 12467195 core:Non-currentFinancialInstruments 2024-02-29 12467195 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 12467195 core:Goodwill 2024-02-29 12467195 core:FurnitureFittingsToolsEquipment 2024-02-29 12467195 bus:SmallEntities 2023-03-01 2024-02-29 12467195 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 12467195 bus:FullAccounts 2023-03-01 2024-02-29 12467195 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12467195 bus:RegisteredOffice 2023-03-01 2024-02-29 12467195 bus:Director1 2023-03-01 2024-02-29 12467195 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12467195 core:Goodwill 2023-03-01 2024-02-29 12467195 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 12467195 core:OfficeEquipment 2023-03-01 2024-02-29 12467195 countries:EnglandWales 2023-03-01 2024-02-29 12467195 2023-02-28 12467195 core:Goodwill 2023-02-28 12467195 core:FurnitureFittingsToolsEquipment 2023-02-28 12467195 2022-03-01 2023-02-28 12467195 2023-02-28 12467195 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 12467195 core:Non-currentFinancialInstruments 2023-02-28 12467195 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 12467195 core:Goodwill 2023-02-28 12467195 core:FurnitureFittingsToolsEquipment 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 12467195

S.Dunstan Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

S.Dunstan Properties Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

S.Dunstan Properties Limited

(Registration number: 12467195)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

11,030

12,868

Tangible assets

5

4,811

5,398

 

15,841

18,266

Current assets

 

Cash at bank and in hand

 

93,148

81,277

Creditors: Amounts falling due within one year

6

(30,652)

(26,116)

Net current assets

 

62,496

55,161

Total assets less current liabilities

 

78,337

73,427

Creditors: Amounts falling due after more than one year

6

(30,000)

(30,000)

Net assets

 

48,337

43,427

Capital and reserves

 

Called up share capital

1

1

Retained earnings

48,336

43,426

Shareholders' funds

 

48,337

43,427

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 March 2024
 

.........................................
Miss S A L Dunstan
Director

 

S.Dunstan Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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:
85 Church Street
Littleborough
OL15 8AB
England

These financial statements were authorised for issue by the director on 28 March 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 in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the profit and loss.

Tax

The tax expense for the period comprises current 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.

 

S.Dunstan Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Office equipment

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

S.Dunstan Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 5).

 

S.Dunstan Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2023

18,383

18,383

At 29 February 2024

18,383

18,383

Amortisation

At 1 March 2023

5,515

5,515

Amortisation charge

1,838

1,838

At 29 February 2024

7,353

7,353

Carrying amount

At 29 February 2024

11,030

11,030

At 28 February 2023

12,868

12,868

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

9,110

9,110

Additions

1,015

1,015

At 29 February 2024

10,125

10,125

Depreciation

At 1 March 2023

3,712

3,712

Charge for the year

1,602

1,602

At 29 February 2024

5,314

5,314

Carrying amount

At 29 February 2024

4,811

4,811

At 28 February 2023

5,398

5,398

 

S.Dunstan Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

30,597

24,154

Other creditors

55

1,962

30,652

26,116

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

30,000

30,000

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

30,000

30,000