IRIS Accounts Production v24.1.4.33 06127965 director 1.3.23 28.2.24 28.2.24 0 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh061279652023-02-28061279652024-02-28061279652023-03-012024-02-28061279652022-02-28061279652022-03-012023-02-28061279652023-02-2806127965ns15:EnglandWales2023-03-012024-02-2806127965ns14:PoundSterling2023-03-012024-02-2806127965ns10:Director12023-03-012024-02-2806127965ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2806127965ns10:SmallEntities2023-03-012024-02-2806127965ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2806127965ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2806127965ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2806127965ns10:FullAccounts2023-03-012024-02-280612796512023-03-012024-02-2806127965ns10:RegisteredOffice2023-03-012024-02-2806127965ns5:CurrentFinancialInstruments2024-02-2806127965ns5:CurrentFinancialInstruments2023-02-2806127965ns5:Non-currentFinancialInstruments2024-02-2806127965ns5:Non-currentFinancialInstruments2023-02-2806127965ns5:ShareCapital2024-02-2806127965ns5:ShareCapital2023-02-2806127965ns5:RevaluationReserve2024-02-2806127965ns5:RevaluationReserve2023-02-2806127965ns5:RetainedEarningsAccumulatedLosses2024-02-2806127965ns5:RetainedEarningsAccumulatedLosses2023-02-2806127965ns5:NetGoodwill2023-03-012024-02-2806127965ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2806127965ns5:LandBuildings2023-03-012024-02-2806127965ns5:PlantMachinery2023-03-012024-02-2806127965ns5:NetGoodwill2023-02-2806127965ns5:NetGoodwill2024-02-2806127965ns5:NetGoodwill2023-02-2806127965ns5:LandBuildings2023-02-2806127965ns5:PlantMachinery2023-02-2806127965ns5:LandBuildings2024-02-2806127965ns5:PlantMachinery2024-02-2806127965ns5:LandBuildings2023-02-2806127965ns5:PlantMachinery2023-02-2806127965ns5:CostValuation2023-02-2806127965ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2806127965ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2806127965ns5:RevaluationReserve2023-02-28
REGISTERED NUMBER: 06127965 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2024

for

Daas Trading Limited

Daas Trading Limited (Registered number: 06127965)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Daas Trading Limited

Company Information
for the Year Ended 28 February 2024







DIRECTOR: Mrs Aylin Atim





REGISTERED OFFICE: 12b Commercial Road
London
N18 1TP





REGISTERED NUMBER: 06127965 (England and Wales)





ACCOUNTANTS: Chris Pantazis Ltd T/A CPS & Co
Chartered Accountants
10A Aldermans Hill
Palmers Green
London
N13 4PJ

Daas Trading Limited (Registered number: 06127965)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,000 10,000
Tangible assets 5 1,864,577 659,425
Investments 6 330,737 330,737
2,203,314 1,000,162

CURRENT ASSETS
Debtors 7 169,451 182,278
Cash at bank and in hand 64,170 15,240
233,621 197,518
CREDITORS
Amounts falling due within one year 8 70,321 5,197
NET CURRENT ASSETS 163,300 192,321
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,366,614

1,192,483

CREDITORS
Amounts falling due after more than one year 9 (470,948 ) (540,349 )

PROVISIONS FOR LIABILITIES (303,125 ) -
NET ASSETS 1,592,541 652,134

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 10 976,875 67,500
Retained earnings 614,666 583,634
1,592,541 652,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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.

Daas Trading Limited (Registered number: 06127965)

Balance Sheet - continued
28 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 October 2024 and were signed by:





Mrs Aylin Atim - Director


Daas Trading Limited (Registered number: 06127965)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Daas Trading Limited is a private company, limited by shares , registered in England and Wales. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Daas Trading Limited (Registered number: 06127965)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 28 February 2024 40,000
AMORTISATION
At 1 March 2023 30,000
Charge for year 2,000
At 28 February 2024 32,000
NET BOOK VALUE
At 28 February 2024 8,000
At 28 February 2023 10,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 787,500 246,777 1,034,277
Additions - 9,760 9,760
Revaluations 1,212,500 - 1,212,500
At 28 February 2024 2,000,000 256,537 2,256,537
DEPRECIATION
At 1 March 2023 129,600 245,252 374,852
Charge for year 14,400 2,708 17,108
At 28 February 2024 144,000 247,960 391,960
NET BOOK VALUE
At 28 February 2024 1,856,000 8,577 1,864,577
At 28 February 2023 657,900 1,525 659,425

Cost or valuation at 28 February 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 67,500 - 67,500
Valuation in 2024 1,212,500 - 1,212,500
Cost 720,000 256,537 976,537
2,000,000 256,537 2,256,537

Daas Trading Limited (Registered number: 06127965)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 28 February 2024 330,737
NET BOOK VALUE
At 28 February 2024 330,737
At 28 February 2023 330,737

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade debtors (1,710 ) (5,437 )
Other debtors 171,161 187,715
169,451 182,278

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Bank loans and overdrafts 62,477 -
Trade creditors 6,417 257
Taxation and social security (5,335 ) 4,940
Other creditors 6,762 -
70,321 5,197

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.24 28.2.23
£    £   
Bank loans 470,948 540,349

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 470,948 540,349

10. RESERVES
Revaluation
reserve
£   
At 1 March 2023 67,500
Revaluation for the year 909,375

At 28 February 2024 976,875

Daas Trading Limited (Registered number: 06127965)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

11. RELATED PARTY DISCLOSURES

At the end of the year the amount of £170,606 (2023: £170,606) was owed by Gurada Property Ltd, company number:11233366, Registered in England and Wales. The above balance was included in the Debtors:Amounts falling due with in one year " Other Debtors".

Mr Ali Dogan Atim is a director and shareholder for both companies.