Registered number
09109370
D & N Property East Anglia Ltd
Filleted Accounts
31 July 2023
D & N Property East Anglia Ltd
Registered number: 09109370
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 787,184 787,184
Current assets
Debtors 4 27 26
Cash at bank and in hand 18,021 14,731
18,048 14,757
Creditors: amounts falling due within one year 5 (243,772) (247,142)
Net current liabilities (225,724) (232,385)
Total assets less current liabilities 561,460 554,799
Creditors: amounts falling due after more than one year 6 (543,547) (543,548)
Net assets 17,913 11,251
Capital and reserves
Called up share capital 100 100
Profit and loss account 17,813 11,151
Shareholders' funds 17,913 11,251
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs D Smith
Director
Approved by the board on 20 March 2024
D & N Property East Anglia Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Residential buildings at market value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2022 787,184
At 31 July 2023 787,184
Depreciation
At 31 July 2023 -
Net book value
At 31 July 2023 787,184
At 31 July 2022 787,184
4 Debtors 2023 2022
£ £
Other debtors 27 26
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,563 1,228
Other creditors 242,209 245,914
243,772 247,142
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 543,547 543,548
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 543,548 543,548
Secured bank loans 543,548 543,548
Paragon mortgages has a mortgage charge on the two residential properties. £205,588 re 197 Meadgate Avenue and £118,299 re 5 Raeburn Close. The Mortgage Works has a mortgage charge of £219,661 re 51 Brook End Road South. These are interest only mortgages with a term of twenty five years each.
8 Related party transactions
Mr and Mrs Smith have lent the company funds to assist in the purchase of the two residential properties. Due to Mr & Mrs Smith at the year end was £120,570 each (2022: £122,428). This has been lent on an interest free basis and is expected to be repaid in the coming years.
9 Other information
D & N Property East Anglia Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Blue Barns Business Park
Old Ipswich Road, Ardleigh
Colchester
Essex
CO7 7FX
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