Registered number
00352358
ANGLO-DAL LIMITED
Filleted Accounts
31 December 2023
ANGLO-DAL LIMITED
Registered number: 00352358
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,833,768 1,831,879
Current assets
Stocks 356,503 305,858
Debtors 4 417,260 420,240
Investments held as current assets 5 100 100
Cash at bank and in hand 1,474,887 2,041,993
2,248,750 2,768,191
Creditors: amounts falling due within one year 6 (226,101) (302,852)
Net current assets 2,022,649 2,465,339
Total assets less current liabilities 3,856,417 4,297,218
Provisions for liabilities (418,850) (418,850)
Net assets 3,437,567 3,878,368
Capital and reserves
Called up share capital 1,000,000 1,000,000
Revaluation reserve 7 1,187,000 1,187,000
Profit and loss account 1,250,567 1,691,368
Shareholders' funds 3,437,567 3,878,368
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.
Mr S MIRGOS
Director
Approved by the board on 23 September 2024
ANGLO-DAL 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over the building’s useful life
Leasehold land and buildings over the lease term
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 10 years or 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 2,151,622 100,188 2,251,810
Additions 29,766 - 29,766
At 31 December 2023 2,181,388 100,188 2,281,576
Depreciation
At 1 January 2023 341,550 78,381 419,931
Charge for the year 20,915 6,962 27,877
At 31 December 2023 362,465 85,343 447,808
Net book value
At 31 December 2023 1,818,923 14,845 1,833,768
At 31 December 2022 1,810,072 21,807 1,831,879
Freehold land and buildings: 2023 2022
£ £
Historical cost 1,252,240 1,252,240
Cumulative depreciation based on historical cost 462,475 449,720
789,765 802,520
4 Debtors 2023 2022
£ £
Trade debtors 415,602 420,240
Other debtors 1,658 -
417,260 420,240
5 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 100 100
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 59,478 -
Taxation and social security costs 108,706 116,949
Other creditors 57,917 185,903
226,101 302,852
7 Revaluation reserve 2023 2022
£ £
At 1 January 2023 1,187,000 1,187,000
At 31 December 2023 1,187,000 1,187,000
8 Related party transactions
One of the freehold properties is currently occupied by a director Mr. S. Mirgos and Mrs. B. Mirgos.
9 Controlling party
The company is controlled by its majority shareholder, Bulmac Investment & Trading Co. Limited, a company incorporated in Gibraltar with company number 52482.
10 Other information
ANGLO-DAL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Anglo Dal House
5 Spring Villa Road
Edgware
Middlesex
HA8 7EB
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