IRIS Accounts Production v24.2.0.383 SC577755 director 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5777552022-12-31SC5777552023-12-31SC5777552023-01-012023-12-31SC5777552021-12-31SC5777552022-01-012022-12-31SC5777552022-12-31SC577755ns15:Scotland2023-01-012023-12-31SC577755ns14:PoundSterling2023-01-012023-12-31SC577755ns10:Director12023-01-012023-12-31SC577755ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC577755ns10:SmallEntities2023-01-012023-12-31SC577755ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC577755ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC577755ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC577755ns10:FullAccounts2023-01-012023-12-31SC577755ns10:RegisteredOffice2023-01-012023-12-31SC577755ns5:CurrentFinancialInstruments2023-12-31SC577755ns5:CurrentFinancialInstruments2022-12-31SC577755ns5:Non-currentFinancialInstruments2023-12-31SC577755ns5:Non-currentFinancialInstruments2022-12-31SC577755ns5:ShareCapital2023-12-31SC577755ns5:ShareCapital2022-12-31SC577755ns5:RevaluationReserve2023-12-31SC577755ns5:RevaluationReserve2022-12-31SC577755ns5:RetainedEarningsAccumulatedLosses2023-12-31SC577755ns5:RetainedEarningsAccumulatedLosses2022-12-31SC577755ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC577755ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31SC577755ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-31SC577755ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-12-31SC577755ns5:Secured2023-12-31SC577755ns5:Secured2022-12-31
REGISTERED NUMBER: SC577755 (Scotland)











































Dragonfly Properties Limited

Unaudited Financial Statements

for the Year Ended 31st December 2023






Dragonfly Properties Limited (Registered number: SC577755)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Dragonfly Properties Limited

Company Information
for the year ended 31st December 2023







Director: Mrs V K I Grant





Registered office: 4 Stafford Street
Edinburgh
EH3 7AU





Registered number: SC577755 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Dragonfly Properties Limited (Registered number: SC577755)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Investment property 4 2,121,112 1,815,856

Current assets
Debtors 5 3,203 2
Cash at bank 3,744 13,612
6,947 13,614
Creditors
Amounts falling due within one year 6 4,437 25,011
Net current assets/(liabilities) 2,510 (11,397 )
Total assets less current liabilities 2,123,622 1,804,459

Creditors
Amounts falling due after more than one
year

7

(1,158,689

)

(841,689

)

Provisions for liabilities (802 ) (802 )
Net assets 964,131 961,968

Capital and reserves
Called up share capital 2 2
Revaluation reserve 9 4,219 4,219
Retained earnings 959,910 957,747
964,131 961,968

Dragonfly Properties Limited (Registered number: SC577755)

Balance Sheet - continued
31st December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd March 2024 and were signed by:





Mrs V K I Grant - Director


Dragonfly Properties Limited (Registered number: SC577755)

Notes to the Financial Statements
for the year ended 31st December 2023

1. Statutory information

Dragonfly Properties Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rental payments are recognised in accordance with the lease arrangements.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade creditors, accruals and bank loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Dragonfly Properties Limited (Registered number: SC577755)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The director has considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, she continues to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

4. Investment property
Total
£   
Fair value
At 1st January 2023 1,815,856
Additions 305,256
At 31st December 2023 2,121,112
Net book value
At 31st December 2023 2,121,112
At 31st December 2022 1,815,856

Fair value at 31st December 2023 is represented by:
£   
Valuation in 2018 4,219
Cost 2,116,893
2,121,112

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 3,203 2

Dragonfly Properties Limited (Registered number: SC577755)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts - 20,040
Trade creditors 392 -
Taxation and social security 2,567 3,335
Other creditors 1,478 1,636
4,437 25,011

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 411,791
Other creditors 1,158,689 429,898
1,158,689 841,689

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans due after five years 1,158,689 429,898

Repayable by instalments
Bank loans due after five years - 322,811

8. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 431,831

The Royal Bank of Scotland has charges over all property and undertaking of the company.

9. Reserves

Included in retained earnings are non-distributable reserves totalling £3,472 (2022 - £3,472)..