Registered number
SC191052
DAMKAN LIMITED
Filleted Accounts
31 March 2024
DAMKAN LIMITED
Registered number: SC191052
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 244 361
Investments 4 250,000 250,000
250,244 250,361
Current assets
Debtors 5 230,328 336,458
Cash at bank and in hand 333,899 206,704
564,227 543,162
Creditors: amounts falling due within one year 6 (4,081) (3,263)
Net current assets 560,146 539,899
Total assets less current liabilities 810,390 790,260
Provisions for liabilities (20,504) (20,501)
Net assets 789,886 769,759
Capital and reserves
Called up share capital 2,002 2,002
Fair value reserve 7 145,230 145,233
Profit and loss account 642,654 622,524
Shareholders' funds 789,886 769,759
The director is 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 director acknowledges his 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.
Damal Kandadai Arvind
Director
Approved by the board on 14 October 2024
DAMKAN LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 33% reducing balance
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.
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.
Charge on assets
The Royal Bank of Scotland holds a charge over the assets of the company in respect of the property 220 Bruntsfield Place, Edinburgh, Lothian.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 7,965
At 31 March 2024 7,965
Depreciation
At 1 April 2023 7,604
Charge for the year 117
At 31 March 2024 7,721
Net book value
At 31 March 2024 244
At 31 March 2023 361
4 Investments
Other
investments
£
Cost
At 1 April 2023 250,000
At 31 March 2024 250,000
Fairvalue Value at 31 March 2024 is represented by:

Valuation in 2006 £65,644
Valuation in 2012 £25,000
Valuation in 2019 £25,000
Valuation in 2020 £50,000
Cost £84,356
Total fairvalue £250,000

If investment property had not been revalued, it would have been included at the historical cost of £84,356.

The investment property had been valued on an open market basis on 31 March 2020 by the director.
5 Debtors 2024 2023
£ £
Other debtors 230,328 336,458
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 3,769 3,263
Other creditors 312 -
4,081 3,263
7 Revaluation reserve 2024 2023
£ £
At 1 April 2023 145,233 145,282
Transfer (3) (49)
At 31 March 2024 145,230 145,233
8 Related party transactions
As at 31 March 2024, there were outstanding loan amounts to shareholders totalling £178,440. Interest at 2.25% was charged on the balance.
9 Controlling party
The controlling parties are Roopa Rangaswami and Damal Arvind who each own £1,001 of the shares issued.
10 Other information
DAMKAN LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
12 Gilmour Road
Edinburgh
EH16 5NT
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