Danis Investments Ltd 14031397 false 2022-04-06 2023-04-30 2023-04-30 The principal activity of the company is that of property investment. Digita Accounts Production Advanced 6.30.9574.0 true true 14031397 2022-04-06 2023-04-30 14031397 2023-04-30 14031397 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 14031397 core:Non-currentFinancialInstruments 2023-04-30 14031397 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 14031397 1 2023-04-30 14031397 bus:SmallEntities 2022-04-06 2023-04-30 14031397 bus:AuditExemptWithAccountantsReport 2022-04-06 2023-04-30 14031397 bus:FilletedAccounts 2022-04-06 2023-04-30 14031397 bus:SmallCompaniesRegimeForAccounts 2022-04-06 2023-04-30 14031397 bus:RegisteredOffice 2022-04-06 2023-04-30 14031397 bus:Director1 2022-04-06 2023-04-30 14031397 bus:PrivateLimitedCompanyLtd 2022-04-06 2023-04-30 14031397 countries:EnglandWales 2022-04-06 2023-04-30 14031397 1 2022-04-06 2023-04-30 14031397 1 2022-04-05 iso4217:GBP xbrli:pure

Registration number: 14031397

Danis Investments Ltd

Unaudited Filleted Financial Statements

for the Period from 6 April 2022 to 30 April 2023

 

Danis Investments Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Danis Investments Ltd

(Registration number: 14031397)
Statement of Financial Position as at 30 April 2023

Note

2023
£

Fixed assets

 

Investment property

4

280,000

Current assets

 

Cash at bank and in hand

 

54

Creditors: Amounts falling due within one year

5

(75,460)

Net current liabilities

 

(75,406)

Total assets less current liabilities

 

204,594

Creditors: Amounts falling due after more than one year

5

(196,008)

Provisions for liabilities

(2,081)

Net assets

 

6,505

Capital and reserves

 

Called up share capital

1

Profit and loss account

6,504

Shareholders' funds

 

6,505

For the financial period ending 30 April 2023 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 period 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 Statement of Comprehensive Income.

Approved and authorised by the director on 3 April 2024
 


Ms Gulay Danis
Director

 

Danis Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 6 April 2022 to 30 April 2023

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:
Flat 31 Compass Quay
Haven Road
Exeter
EX2 8GW
England

Principal activity

The principal activity of the company is that of property investment.

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 using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

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

 

Danis Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 6 April 2022 to 30 April 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

Tax

The tax expense for the period comprises current and deferred 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.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Danis Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 6 April 2022 to 30 April 2023 (continued)

2

Accounting policies (continued)

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 statement of comprehensive income 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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Investment properties

2023
£

Additions

269,049

Fair value adjustments

10,951

At 30 April 2023

280,000

There has been no valuation of investment property by an independent valuer.

 

Danis Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 6 April 2022 to 30 April 2023 (continued)

5

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Taxation and social security

510

Accruals and deferred income

1,050

Other creditors

73,900

75,460

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

7

196,008

Creditors falling due after more than one year are secured by way of a fixed charge over the assets of the company.

6

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Danis Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 6 April 2022 to 30 April 2023 (continued)

7

Loans and borrowings

Non-current loans and borrowings

2023
£

Bank borrowings

196,008

8

Related party transactions

Transactions with the director

2023

At 6 April 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Director

-

6,750

(80,652)

(73,902)