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COMPANY REGISTRATION NUMBER: 3845277
Dasino Limited
Filleted Unaudited Financial Statements
31 December 2023
Dasino Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
2,159,298
2,159,298
Current assets
Cash at bank and in hand
88,135
91,338
Creditors: amounts falling due within one year
6
79,645
84,093
--------
--------
Net current assets
8,490
7,245
------------
------------
Total assets less current liabilities
2,167,788
2,166,543
Creditors: amounts falling due after more than one year
7
1,324,439
1,324,439
------------
------------
Net assets
843,349
842,104
------------
------------
Capital and reserves
Called up share capital
1
1
Revaluation reserve
8
785,005
785,005
Profit and loss account
8
58,343
57,098
---------
---------
Shareholders funds
843,349
842,104
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dasino Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 17 September 2024 , and are signed on behalf of the board by:
Leta Liu
Director
Company registration number: 3845277
Dasino Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 32-34 Station Close, Potters Bar, EN6 1TL, Herts.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises of rents receivable from investment properties and other services.
Income tax
The tax currently payable is based on taxable profit for the year. Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. The carrying amount of deferred tax assetss is reviewed at each reporting dateand deducted to the full extent that it is no longer probable that suffucient profits will allow it to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset realised. Deferred tax is charged or credited in the profit and loss acoount, except when it relates to items charged or credited directly to equity, in which case the defeered tax is is also dealt within equity. Deferred tax assets and liabilties are offset when the companyy has a legally enforceable right to offset current assets and liabilties and the deferred tax asset and laibilities relate to taxes levied by the same tax authority.
Tangible assets
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation. These Investment properties are not depreciated and any gains or losses are taken to profit and loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Land and buildings
£
Cost
At 1 January 2023 and 31 December 2023
2,159,298
------------
Depreciation
At 1 January 2023 and 31 December 2023
------------
Carrying amount
At 31 December 2023
2,159,298
------------
At 31 December 2022
2,159,298
------------
Tangible assets held at valuation
The valuation at the year end was based upon the director's opinion of the open market value of each property. Any increase or decrease in this value will be taken directly to profit and loss account.
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold property
£
At 31 December 2023
Aggregate cost
1,374,298
Aggregate depreciation
------------
Carrying value
1,374,298
------------
At 31 December 2022
Aggregate cost
1,374,298
Aggregate depreciation
------------
Carrying value
1,374,298
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
54,098
54,098
Other creditors
25,547
29,995
--------
--------
79,645
84,093
--------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
1,324,439
1,324,439
------------
------------
Bank loans are secured on investment properties that they have been lent upon.
Included within creditors: amounts falling due after more than one year is an amount of £1,061,769 (2022: £1,061,769) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The company's investment properties are secured by way of bank loans, where interest is being charged at 3.99%-5.5% above base. They are to be repaid within the next 7 to 20 years.
8. Reserves
Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. It is not distributable and is kept separate from the profit and loss account .
9. Related party transactions
The company was under the control of Miss Leta Liu throughout the current and previous year. She is the managing director and majority shareholder.