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DAX PROPERTY INVESTMENTS LTD

Registered Number
SC681824
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2023

DAX PROPERTY INVESTMENTS LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Loubser, Nicolaas Frederik Kenne
Loubser, Xylia

Registered Address

Office 3/7 54 Gordon Street
Glasgow
G1 3PU

Registered Number

SC681824 (Scotland)
DAX PROPERTY INVESTMENTS LTD
Statement of Financial Position
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investments3238,001220,001
238,001220,001
Current assets
Debtors4219,129217,929
Cash at bank and on hand2,2908,856
221,419226,785
Creditors amounts falling due within one year5(404,458)(410,402)
Net current assets (liabilities)(183,039)(183,617)
Total assets less current liabilities54,96236,384
Creditors amounts falling due after one year6(68,250)(68,250)
Provisions for liabilities7(2,639)-
Net assets(15,927)(31,866)
Capital and reserves
Called up share capital200200
Profit and loss account(16,127)(32,066)
Shareholders' funds(15,927)(31,866)
The financial statements were approved and authorised for issue by the Board of Directors on 22 August 2024, and are signed on its behalf by:
Loubser, Nicolaas Frederik Kenne
Director
Loubser, Xylia
Director

Registered Company No. SC681824
DAX PROPERTY INVESTMENTS LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The directors have prepared the financial statements on a going concern basis. The directors have confirmed that they will continue to give financial support to the company to meets its liabilities when they fall due.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes to fair value is recognised in profit or loss.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20232022
Average number of employees during the year00
3.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 December 22220,001220,001
Revaluations18,00018,000
At 30 November 23238,001238,001
Net book value
At 30 November 23238,001238,001
At 30 November 22220,001220,001

Notes

1Other investments other than loans
4.Debtors: amounts due within one year

2023

2022

££
Other debtors218,806217,575
Prepayments and accrued income323354
Total219,129217,929
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.
5.Creditors: amounts due within one year

2023

2022

££
Other creditors404,458409,202
Accrued liabilities and deferred income-1,200
Total404,458410,402
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.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts68,25068,250
Total68,25068,250
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)2,639-
Total2,639-
8.Related party transactions
During the year to 30 November 2023, the company directors, have provided a company with an interest free loan of £404,457 (2022, £409,201). There is no fixed terms of repayment.