Company No:
Contents
DIRECTORS | J L Sutton |
J A G Walduck | |
S L Walduck |
REGISTERED OFFICE | 22 Chancery Lane |
London | |
WC2A 1LS | |
United Kingdom |
COMPANY NUMBER | 09600295 (England and Wales) |
Note | 2023 | 2022 | ||
£ | £ | |||
Restated - note 2 | ||||
Fixed assets | ||||
Investments | 4 |
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6,167,331 | 6,446,955 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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11,366 | 210,036 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (404,249) | (381,017) | ||
Total assets less current liabilities | 5,763,082 | 6,065,938 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Danjolst Limited (registered number:
Jason Alexander George Walduck
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Danjolst Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
In the prior period, a loan of £400,000 made to the company had been omitted in error, which consequently impacted the accounting entries for the prior year fixed asset investments, creditors falling due within one year, other non-operating income, administrative expenses and taxation. The comparative figures for the year ended 31 May 2022 have therefore been restated. Further information on the correction for each financial statement line item affected has been included in Note 2.
The current 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.
Deferred tax
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes recognised in profit or loss.
As previously reported | Adjustment | As restated | ||||
Year ended 31 May 2022 | £ | £ | £ | |||
Fixed asset investments | 6,036,034 | 410,921 | 6,446,955 | |||
Creditors: amount falling due within one year | (196,573) | (394,480) | (591,053) | |||
Other non-operating income | 240,972 | 7,129 | 248,101 | |||
Tax on profit | (85) | (4,534) | (4,619) | |||
Administrative expenses | (64,865) | 10,054 | (54,811) |
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year |
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Listed investments | Total | ||
£ | £ | ||
Carrying value before impairment | |||
At 01 June 2022 |
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Additions |
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Disposals | (
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Movement in fair value | (
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At 31 May 2023 |
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Provisions for impairment | |||
At 01 June 2022 |
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At 31 May 2023 |
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Carrying value at 31 May 2023 |
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Carrying value at 31 May 2022 |
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The historical cost of listed investments is £6,532,245 (2022 - £6,393,869)
2023 | 2022 | ||
£ | £ | ||
Corporation tax |
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Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
At the beginning of financial year | (
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Credited to the Profit and Loss Account |
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At the end of financial year |
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Other related party transactions
At 31 May 2023, there was an outstanding loan due to a close family member of one of the directors. The loan is interest free and has no fixed repayment date. During the year, £157,554 (2022: £73,220) of the loan was repaid to the family member by the company. A further loan of £148,469 (2022: £nil) was provided to the related party during the year. At the balance sheet date, the amount due to the family member was £4,203 (2022: 13,288 ).
At 31 May 2023, there was an outstanding loan due to two of the company's shareholders of £400,000 (2022: £400,000). The loan is interest free and repayable on demand.