REGISTERED NUMBER: |
Daring Property Limited |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
REGISTERED NUMBER: |
Daring Property Limited |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
Daring Property Limited (Registered number: 11632629) |
Contents of the Financial Statements |
for the Year Ended 31 October 2023 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
Daring Property Limited |
Company Information |
for the Year Ended 31 October 2023 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
Mynshull House |
78 Churchgate |
Stockport |
Cheshire |
SK1 1YJ |
Daring Property Limited (Registered number: 11632629) |
Balance Sheet |
31 October 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 7 |
Retained earnings |
Shareholders' funds |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Daring Property Limited (Registered number: 11632629) |
Balance Sheet - continued |
31 October 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Daring Property Limited (Registered number: 11632629) |
Notes to the Financial Statements |
for the Year Ended 31 October 2023 |
1. | Statutory information |
Daring Property Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss. |
The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view. |
If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
3. | Employees and directors |
The average number of employees during the year was NIL (2022 - NIL). |
Daring Property Limited (Registered number: 11632629) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
4. | Investment property |
Total |
£ |
Fair value |
At 1 November 2022 |
Additions |
At 31 October 2023 |
Net book value |
At 31 October 2023 |
At 31 October 2022 |
5. | Debtors: amounts falling due within one year |
31.10.23 | 31.10.22 |
£ | £ |
Accrued income |
6. | Creditors: amounts falling due within one year |
31.10.23 | 31.10.22 |
£ | £ |
Corporation tax |
Directors' current accounts | 562,289 | 227,276 |
Accrued expenses |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.23 | 31.10.22 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |