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Registered number: 14139585
Duntai Property Investment Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
FKAY SOLUTIONS
Suite F6, Wood Street Business Centre
195 Wood Street
London
E17 3NU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14139585
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 120,000 -
120,000 -
CURRENT ASSETS
Debtors 5 5,763 16,577
Cash at bank and in hand 19,501 3,741
25,264 20,318
Creditors: Amounts Falling Due Within One Year 6 (17,022 ) (17,226 )
NET CURRENT ASSETS (LIABILITIES) 8,242 3,092
TOTAL ASSETS LESS CURRENT LIABILITIES 128,242 3,092
Creditors: Amounts Falling Due After More Than One Year 7 (120,000 ) -
NET ASSETS 8,242 3,092
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 8,241 3,091
SHAREHOLDERS' FUNDS 8,242 3,092
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mary Olu Odun Ikotun
Director
04/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Duntai Property Investment Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14139585 . The registered office is Riseley House, 4 New Road, Rochester, Kent, ME1 1BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Investment Property
2024
£
Fair Value
As at 1 June 2023 -
Additions 120,000
As at 31 May 2024 120,000
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 5,763 16,577
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 1,208 726
Other creditors 15,814 6,500
Director's loan account - 10,000
17,022 17,226
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 71,730 -
Directors loan account 48,270 -
120,000 -
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4