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REGISTERED NUMBER: SC691795 (Scotland)



















DANYANG LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






DANYANG LTD (REGISTERED NUMBER: SC691795)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DANYANG LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Zhongyan Wang





REGISTERED OFFICE: 35 Torlum Crescent
Newton Mearns
Glasgow
G77 5GS





REGISTERED NUMBER: SC691795 (Scotland)





ACCOUNTANTS: CW
Chartered Accountants
9 Royal Crescent
Glasgow
G3 7SP

DANYANG LTD (REGISTERED NUMBER: SC691795)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 3,578 4,245
Investment property 4 211,151 211,151
214,729 215,396

CURRENT ASSETS
Debtors 5 300 300
Cash at bank and in hand 9,506 13,949
9,806 14,249
CREDITORS
Amounts falling due within one year 6 70,359 75,385
NET CURRENT LIABILITIES (60,553 ) (61,136 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,176

154,260

CREDITORS
Amounts falling due after more than one
year

7

152,269

152,255
NET ASSETS 1,907 2,005

DANYANG LTD (REGISTERED NUMBER: SC691795)

BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,905 2,003
1,907 2,005

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 26 November 2024 and were signed by:





Zhongyan Wang - Director


DANYANG LTD (REGISTERED NUMBER: SC691795)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. 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.

Turnover and revenue recognition
The turnover shown in the profit and loss account represents the rental income receivable for the year. Income is recognised on the basis of rent due for the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment and Fittings - 15% on cost

Investment property
Investment properties are shown at their fair value. The surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market is not considered to be permanent.

This is in accordance with FRS102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve together with the fair value movement.

Financial instruments
Basic financial instruments such as cash, debtors and creditors are measured at transaction price. Financial liabilities classified as payable within one year are not amortised

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.


DANYANG LTD (REGISTERED NUMBER: SC691795)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


1. ACCOUNTING POLICIES - continued
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.

Loans and borrowing
Loans and borrowings are initially recorded at the transaction price, including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

3. TANGIBLE FIXED ASSETS
Equipment
and
Fittings
£   
COST
At 1 April 2023
and 31 March 2024 4,441
DEPRECIATION
At 1 April 2023 196
Charge for year 667
At 31 March 2024 863
NET BOOK VALUE
At 31 March 2024 3,578
At 31 March 2023 4,245

DANYANG LTD (REGISTERED NUMBER: SC691795)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 211,151
NET BOOK VALUE
At 31 March 2024 211,151
At 31 March 2023 211,151

The property was valued by the director at the year end, he considers the valuation to equate to the cost of the property.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 300 300

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation Tax 157 516
Loan from shareholder 55,488 55,488
Director's current account 7,909 7,395
Accrued expenses 6,805 11,986
70,359 75,385

The loans from director and shareholder are interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans more 5 yr by instal 152,269 152,255

DANYANG LTD (REGISTERED NUMBER: SC691795)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 152,269 152,255

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 152,269 152,255

9. RELATED PARTY DISCLOSURES

The loan balance due to the director amounted to £7,909 (2023: £7,395) at the year end.

The loan balance due to a shareholder amounted to £55,488 (2023: £55,488) at the year end.