Company registration number 10056290 (England and Wales)
Danbur Properties Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
Danbur Properties Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Danbur Properties Limited
Statement of financial position
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
3
185,000
185,000
Current assets
Cash at bank and in hand
49,823
57,796
Creditors: amounts falling due within one year
4
(7,331)
(9,187)
Net current assets
42,492
48,609
Total assets less current liabilities
227,492
233,609
Creditors: amounts falling due after more than one year
5
(141,989)
(144,739)
Net assets
85,503
88,870
Capital and reserves
Called up share capital
150
150
Revaluation reserve
20,566
20,566
Profit and loss reserves
64,787
68,154
Total equity
85,503
88,870
Danbur Properties Limited
Statement of financial position (continued)
as at 31 March 2024
- 2 -
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 August 2024
Mr D Burgin
Director
Company Registration No. 10056290
Danbur Properties Limited
Notes to the financial statements
for the year ended 31 March 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
Danbur Properties Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 4 -
3
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
185,000
Investment property comprises a rental property. The fair value of the investment property has been arrived at on the basis of a valuation carried out by Blacks Direct. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
3,014
3,278
Corporation tax
1,685
3,123
Other creditors
164
378
Accruals and deferred income
2,468
2,408
7,331
9,187
5
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
141,989
144,739
6
Company information
Danbur Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14 Haigh Wood Green, Leeds, West Yorkshire, LS16 6PE.