Registered number
06855865
DALEGOLD INVESTMENTS LIMITED
Unaudited Filleted Accounts
31 December 2023
DALEGOLD INVESTMENTS LIMITED
Registered number: 06855865
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,050,000 1,050,000
1,050,000 1,050,000
Current assets
Debtors 4 19,794 62,396
Cash at bank and in hand 71,271 1,750
91,065 64,146
Creditors: amounts falling due within one year 5 (367,760) (367,044)
Net Current Assets/ (Liabilities) (276,695) (302,898)
Total assets less current liabilities 773,305 747,102
Provisions for liabilities (151,923) (115,461)
Net Assets 621,382 631,641
Capital and reserves
Called up share capital 200 200
Revaluation reserve 6 547,866 584,328
Profit and loss account 73,316 47,113
Shareholders' funds 621,382 631,641
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
O. C. Denniss
Director
Approved by the board on 10.09.2024
DALEGOLD INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Investment Properties
Investment Properties are revalued to their fair value at the year end. Changes in fair value are included in the comprehensive income statement.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Investment Properties Total
£ £
Cost
At 1 January 2023 1,050,000 1,050,000
At 31 December 2023 1,050,000 1,050,000
Depreciation
At 1 January 2023 - -
At 31 December 2023 - -
Net book value
At 31 December 2023 1,050,000 1,050,000
At 31 December 2022 1,050,000 1,050,000
Freehold land and buildings: 2023 2022
£ £
Historical cost 350,211 350,211
350,211 350,211
Investment Properties are valued by the Directors at the Balance Sheet date and are not depreciated. Compliance with FRS102 is a departure from the Companies Act 2006 necessary to give a true and fair view.
4 Debtors 2023 2022
£ £
Trade debtors 414 414
Other debtors 19,380 61,982
19,794 62,396
Amounts due after more than one year included above - -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Directors Loans 359,768 359,768
Trade creditors 1,025 919
Taxation and social security costs 6,114 5,540
Other creditors 853 817
367,760 367,044
6 Revaluation reserve 2023 2022
£ £
At 1 January 2023 584,328 584,328
Revaluation of Land and Buildings - -
Deferred taxation arising on the revaluation of land and buildings (36,462) -
At 31 December 2023 547,866 584,328
7 Related party transactions
At the 31st December there was a loan balance due from Limegrange Properties Limited of £18,206 (2022 - £60,929). This loan is interest free and repayable on demand. Limegrange Properties Limited is owned and controlled by relatives of the Directors.
At the 31st December there were loans from the Directors totalling £359,768, as per note 4, (2022 - 359,768). These loans carry no interest and are repayable on demand.
Included in note 4, 'other creditors' is a loan from a relative of the Directors of £97 (2022 - £97). This loan is interest free and repayable on demand.
8 Controlling party
The company is jointly controlled by O. C Denniss and J. A. Denniss.
9 Other information
DALEGOLD INVESTMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Suite 1, The Old Farmhouse
Stansted Courtyard
Parsonage Road
Takeley
CM22 6PU
It's principal place of business is:
51-52 St John's Square
London
EC1V 4NH
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