REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 February 2024 |
for |
Dutchflow Invest Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 February 2024 |
for |
Dutchflow Invest Ltd |
Dutchflow Invest Ltd (Registered number: 13214530) |
Contents of the Financial Statements |
for the Year Ended 29 February 2024 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 3 |
Dutchflow Invest Ltd (Registered number: 13214530) |
Statement of Financial Position |
29 February 2024 |
29.2.24 | 28.2.23 |
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 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
Dutchflow Invest Ltd (Registered number: 13214530) |
Statement of Financial Position - continued |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Fair value reserve | 10 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
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 |
Dutchflow Invest Ltd (Registered number: 13214530) |
Notes to the Financial Statements |
for the Year Ended 29 February 2024 |
1. | STATUTORY INFORMATION |
Dutchflow Invest Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the fair value of rent received or receivable from the investment properties, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment properties are 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. |
Dutchflow Invest Ltd (Registered number: 13214530) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Going concern |
The company has net liabilities of £15,948. The accounts have been prepared on a going concern basis as the director has confirmed that he will continue to provide financial support to the company for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2023 |
Additions |
Revaluations | (19,427 | ) |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
Investment properties situated at (1) 6 Queen Victoria Street, Tredegar, NP22 3PY. (2) 16A Wernddu Road, Ammanford, SA18 2NE. (3) 16 Wernddu Road, Ammanford, SA18 2NE are under a charge from Hampshire Trust Bank PLC. The charge was created on 15th December 2023. |
Dutchflow Invest Ltd (Registered number: 13214530) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
4. | INVESTMENT PROPERTY - continued |
Fair value at 29 February 2024 is represented by: |
£ |
Valuation in 2022 | 22,288 |
Valuation in 2023 | (2,455 | ) |
Valuation in 2024 | (19,427 | ) |
Cost | 421,094 |
421,500 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
Dutchflow Invest Ltd (Registered number: 13214530) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
29.2.24 | 28.2.23 |
£ | £ |
Bank loans |
The loan amounting to £149,990 is secured by the way of charge on the following properties. (disclosed as investment property). The charge was created in the name of Hampshire Trust Bank PLC on 15th December 2023. |
(1) 6 Queen Victoria Street, Tredegar, NP22 3PY |
(2) 16A Wernddu Road, Ammanford, SA18 2NE |
(3) 16 Wernddu Road, Ammanford, SA18 2NE |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.2.24 | 28.2.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 March 2023 |
Transfer to/from reserves | (17,483 | ) |
At 29 February 2024 |
11. | RELATED PARTY DISCLOSURES |
The company owes £86,921 (2023: £93,670) to its director, Mr. Michael Peter De Boer as at the accounting year end date. |
The company owes £193,842 (2023: £259,557) as at accounting year end date to Dutchflow Trade Ltd, a company registered in United Kingdom (Company registered number: 13214533). Mr. Michael Peter De Boer is also a director of this company. |