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COMPANY REGISTRATION NUMBER: 10579630
Dragonfly Lettings Ltd
Unaudited financial statements
31 July 2024
Dragonfly Lettings Ltd
Statement of financial position
31 July 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
55,743
Investments
6
100
100
----
-------
100
55,843
Current assets
Debtors
7
100,029
70,261
Cash at bank and in hand
246,099
171,963
---------
---------
346,128
242,224
Creditors: Amounts falling due within one year
8
( 89,988)
( 93,902)
---------
---------
Net current assets
256,140
148,322
---------
---------
Total assets less current liabilities
256,240
204,165
Creditors: Amounts falling due after more than one year
9
( 8,338)
( 18,333)
Provisions
Taxation including deferred tax
( 331)
---------
---------
Net assets
247,902
185,501
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
247,802
185,401
---------
---------
Shareholders funds
247,902
185,501
---------
---------
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 income statement has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dragonfly Lettings Ltd
Statement of financial position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 7 January 2025 , and are signed on behalf of the board by:
P L Aitchison
Director
Company registration number: 10579630
Dragonfly Lettings Ltd
Notes to the financial statements
Year ended 31 July 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 Crowthorne House, Nine Mile Ride, Wokingham, Berkshire, RG40 3GZ.
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.
Going concern
Following the acquisition of the company by Leaders Limited on 1 August 2024, the trade and net assets of the company were hived to its new parent company and the company ceased trading. The company is therefore no longer considered to be a going concern and the financial statements have there been prepared on a basis other than going concern.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Post balance sheet events
On 1 August 2024, the company was acquired by Leaders Limited, part of the Leaders Romans Group. Immediately afterwards all the company's trade and net assets were transferred to Leaders Limited.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
10% straight line
Fixtures and fittings
-
25% reducing balance
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of employees during the year was 6 (2023: 6 ).
5. Tangible assets
Long leasehold property
Fixtures and fittings
Total
£
£
£
Cost
At 1 August 2023
105,199
4,965
110,164
Disposals
( 105,199)
( 4,965)
( 110,164)
---------
------
---------
At 31 July 2024
---------
------
---------
Depreciation
At 1 August 2023
51,208
3,213
54,421
Charge for the year
438
438
Disposals
( 51,208)
( 3,651)
( 54,859)
---------
------
---------
At 31 July 2024
---------
------
---------
Carrying amount
At 31 July 2024
---------
------
---------
At 31 July 2023
53,991
1,752
55,743
---------
------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 August 2023 and 31 July 2024
100
----
Impairment
At 1 August 2023 and 31 July 2024
----
Carrying amount
At 31 July 2024
100
----
At 31 July 2023
100
----
7. Debtors
2024
2023
£
£
Trade debtors
36
243
Other debtors
99,993
70,018
---------
-------
100,029
70,261
---------
-------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
673
2,592
Amounts owed to group undertakings and undertakings in which the company has a participating interest
100
100
Social security and other taxes
57,309
40,937
Other creditors
21,906
40,273
-------
-------
89,988
93,902
-------
-------
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,338
18,333
------
-------
10. Directors' advances, credits and guarantees
Included within debtors at the year end is a directors loan account of £8,824. The maximum overdrawn balance during the year was £8,824. Interest of £Nil was charged at the official rate.