0 false false false false false false false false false true false false false false true true No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 197,951 197,951 197,951 xbrli:pure xbrli:shares iso4217:GBP 11198136 2023-03-01 2024-02-29 11198136 2024-02-29 11198136 2023-02-28 11198136 2022-03-01 2023-02-28 11198136 2023-02-28 11198136 2022-02-28 11198136 bus:Director1 2023-03-01 2024-02-29 11198136 core:AfterOneYear 2024-02-29 11198136 core:AfterOneYear 2023-02-28 11198136 core:WithinOneYear 2024-02-29 11198136 core:WithinOneYear 2023-02-28 11198136 core:ShareCapital 2024-02-29 11198136 core:ShareCapital 2023-02-28 11198136 core:RetainedEarningsAccumulatedLosses 2024-02-29 11198136 core:RetainedEarningsAccumulatedLosses 2023-02-28 11198136 core:CostValuation core:Non-currentFinancialInstruments 2024-02-29 11198136 core:Non-currentFinancialInstruments 2024-02-29 11198136 core:Non-currentFinancialInstruments 2023-02-28 11198136 bus:Director1 2023-02-28 11198136 bus:Director1 2024-02-29 11198136 bus:Director1 2022-02-28 11198136 bus:Director1 2023-02-28 11198136 bus:Director1 2022-03-01 2023-02-28 11198136 bus:SmallEntities 2023-03-01 2024-02-29 11198136 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 11198136 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11198136 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11198136 bus:FullAccounts 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 11198136
DADGARIAN BUY TO LET LTD
Filleted Unaudited Financial Statements
29 February 2024
DADGARIAN BUY TO LET LTD
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
197,951
197,951
Current assets
Debtors
5
852
Cash at bank and in hand
128,049
131,185
---------
---------
128,901
131,185
Creditors: amounts falling due within one year
6
148,571
147,948
---------
---------
Net current liabilities
19,670
16,763
---------
---------
Total assets less current liabilities
178,281
181,188
Creditors: amounts falling due after more than one year
7
201,904
201,904
---------
---------
Net liabilities
( 23,623)
( 20,716)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 23,723)
( 20,816)
--------
--------
Shareholders deficit
( 23,623)
( 20,716)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DADGARIAN BUY TO LET LTD
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 8 November 2024 , and are signed on behalf of the board by:
Akbar Dadgarian
Director
Company registration number: 11198136
DADGARIAN BUY TO LET LTD
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 301 Kenton Lane, Harrow, Middlesex, HA3 8RR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Investments
Other investments other than loans
£
Cost
At 1 March 2023 and 29 February 2024
197,951
---------
Impairment
At 1 March 2023 and 29 February 2024
---------
Carrying amount
At 29 February 2024
197,951
---------
At 28 February 2023
197,951
---------
The leasehold land and building investment were valued on an open market value basis by directors on 28 February 2024. No timing differences arise and no provision has been made for deferred tax in respect of the revaluation as the company has no intention of disposing of the properties in the foreseeable future. The historical cost of assets included at valuation at the balance sheet date is as follows:-
No depreciation or amortisation is provided in respect of leasehold investment property. Although this accounting policy is in accordance with the applicable accounting standard, FRS 102, Accounting for investment properties, it is departure from the general requirement of the Companies Act 2006, which requires all fixed assets to be depreciated. However the directors consider that the calculation of systematic annual depreciation would fail to give a true and fair view of investment properties for which the current value, and changes in that value are of prime importance. The accounting policy adopted is therefore necessary for the financial statements to give true and fair view.
5. Debtors
2024
2023
£
£
Other debtors
852
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
50
Other creditors
148,521
147,948
---------
---------
148,571
147,948
---------
---------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
131,904
131,904
Other creditors
70,000
70,000
---------
---------
201,904
201,904
---------
---------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Akbar Dadgarian
( 146,515)
( 541)
( 147,056)
---------
----
---------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Akbar Dadgarian
( 144,496)
( 2,019)
( 146,515)
---------
-------
---------
9. Related party transactions
The company was under the control of Akbar Dadgarian throughout the current year. Akbar Dadgarian is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.