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REGISTERED NUMBER: 05120831 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

DATELINK LTD

DATELINK LTD (REGISTERED NUMBER: 05120831)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DATELINK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: A E Brinner
J Orzel





SECRETARY: Mrs L Orzel





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 05120831 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

DATELINK LTD (REGISTERED NUMBER: 05120831)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 10,678,400 10,220,855
10,678,400 10,220,855

CURRENT ASSETS
Debtors 6 2,760,772 2,718,008
Cash at bank and in hand 126,532 362,295
2,887,304 3,080,303
CREDITORS
Amounts falling due within one year 7 (1,265,152 ) (1,569,925 )
NET CURRENT ASSETS 1,622,152 1,510,378
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,300,552

11,731,233

CREDITORS
Amounts falling due after more than one
year

8

(1,836,061

)

(1,841,212

)

PROVISIONS FOR LIABILITIES (946,195 ) (946,195 )
NET ASSETS 9,518,296 8,943,826

CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 4,979,972 4,979,972
Retained earnings 12 4,538,224 3,963,754
SHAREHOLDERS' FUNDS 9,518,296 8,943,826

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

DATELINK LTD (REGISTERED NUMBER: 05120831)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:





A E Brinner - Director


DATELINK LTD (REGISTERED NUMBER: 05120831)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Datelink Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

DATELINK LTD (REGISTERED NUMBER: 05120831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2022
and 31 May 2023 13,360
DEPRECIATION
At 1 June 2022
and 31 May 2023 13,360
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 10,220,855
Additions 457,545
At 31 May 2023 10,678,400
NET BOOK VALUE
At 31 May 2023 10,678,400
At 31 May 2022 10,220,855

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2017 3,613,444
Valuation in 2020 1,366,528
Cost 5,698,428
10,678,400

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 222,770 240,006
Other debtors 2,538,002 2,478,002
2,760,772 2,718,008

DATELINK LTD (REGISTERED NUMBER: 05120831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 136,613 171,233
Taxation and social security 167,097 322,751
Other creditors 961,442 1,075,941
1,265,152 1,569,925

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans (see note 9) 1,800,000 1,800,000
Other creditors 36,061 41,212
1,836,061 1,841,212

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 1,800,000 1,800,000

Repayable by instalments
Other loans more 5yrs instal 36,061 41,212

9. LOANS

An analysis of the maturity of loans is given below:

31.5.23 31.5.22
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans 1,800,000 1,800,000

Repayable by instalments
Other loans more 5yrs instal 36,061 41,212

Under the bank loan, £50,000 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

DATELINK LTD (REGISTERED NUMBER: 05120831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 1,800,000 1,800,000

The Building Society Mortgages and bank loans and overdrafts are secured by a first charge over the company's investment properties and floating charge over the assets of the company. The terms of the loans are from 10 years to 25 years with fixed and variable interest rates.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 June 2022 3,963,754 4,979,972 8,943,726
Profit for the year 574,470 574,470
At 31 May 2023 4,538,224 4,979,972 9,518,196

13. ULTIMATE CONTROLLING PARTY

The controlling party is A E Brinner.