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REGISTERED NUMBER: 11632629 (England and Wales)












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: A J Daring





Registered office: Flat 19
Finlays Warehouse
56 Dale Street
Manchester
M1 2HN





Registered number: 11632629 (England and Wales)





Accountants: Warr & Co Limited
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 4 572,318 226,067

Current assets
Debtors 5 - 4,024
Cash at bank 3,806 -
3,806 4,024
Creditors
Amounts falling due within one year 6 565,082 228,272
Net current liabilities (561,276 ) (224,248 )
Total assets less current liabilities 11,042 1,819

Capital and reserves
Called up share capital 7 1 1
Retained earnings 11,041 1,818
Shareholders' funds 11,042 1,819

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

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

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


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 director and authorised for issue on 12 March 2024 and were signed by:





A J Daring - Director


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 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.

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.

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 226,067
Additions 346,251
At 31 October 2023 572,318
Net book value
At 31 October 2023 572,318
At 31 October 2022 226,067

5. Debtors: amounts falling due within one year
31.10.23 31.10.22
£    £   
Accrued income - 4,024

6. Creditors: amounts falling due within one year
31.10.23 31.10.22
£    £   
Corporation tax 2,163 426
Directors' current accounts 562,289 227,276
Accrued expenses 630 570
565,082 228,272

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
1 Ordinary £1 1 1