REGISTERED NUMBER: |
DAR PROPERTY DEVELOPMENT LTD |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
REGISTERED NUMBER: |
DAR PROPERTY DEVELOPMENT LTD |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
DAR PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 11774218) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 3 |
DAR PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 11774218) |
STATEMENT OF FINANCIAL POSITION |
31 JANUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
Net assets/(liabilities) | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
The directors acknowledge their 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. |
DAR PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 11774218) |
STATEMENT OF FINANCIAL POSITION - continued |
31 JANUARY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
DAR PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 11774218) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
1. | Statutory information |
Dar Property Development Ltd is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
3. | Employees and directors |
The average number of employees during the year was |
DAR PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 11774218) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
4. | Investment property |
The investment property was valued at 31/01/2024 by the directors on the basis of open market value. The valuation was arrived at by reference to market evidence of transaction prices for similar properties. |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Other debtors |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans |
8. | Secured debts |
There is a charge by National Westminster Bank PLC created on 26 February 2019. This contains a fixed charge and floating charge.There is a also a charge by National Westminster Bank PLC by way of legal mortgage of all legal interest in the property. |
9. | Related party disclosures |
At 31 January 2024, the company owed £89,003 to the director (2023: £83,061). No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year. |
Included in other debtors is an amount of £36,100 (2023: £36,100) due from S&J Holding (NW) Ltd in which Mr Mohammad Jawad Amin is the director and shareholder. The loan is unsecured, interest free and repayable on demand. |
Included in other debtors is an amount of £40 (2023: £300) due from Dar Holding NW Ltd in which Mr Mohammad Jawad Amin is the director and shareholder. The loan is unsecured, interest free and repayable on demand. |