REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30th April 2024 |
for |
DAM Investments and Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30th April 2024 |
for |
DAM Investments and Properties Limited |
DAM Investments and Properties Limited (Registered number: 07401732) |
Contents of the Financial Statements |
for the Year Ended 30th April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DAM Investments and Properties Limited |
Company Information |
for the Year Ended 30th April 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
DAM Investments and Properties Limited (Registered number: 07401732) |
Balance Sheet |
30th April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Share premium |
Non-distributable reserve |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
DAM Investments and Properties Limited (Registered number: 07401732) |
Balance Sheet - continued |
30th April 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DAM Investments and Properties Limited (Registered number: 07401732) |
Notes to the Financial Statements |
for the Year Ended 30th April 2024 |
1. | STATUTORY INFORMATION |
DAM Investments and Properties Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Plant and machinery | - |
Investment property |
Investment property is included at fair value. Gains and losses are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold. |
Any aggregate surplus or deficit arising from changes in fair value is transferred to a non - distributable reserve. |
Financial instruments |
Basic financial instruments |
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash balances and call deposits. |
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. |
DAM Investments and Properties Limited (Registered number: 07401732) |
Notes to the Financial Statements - continued |
for the Year Ended 30th April 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 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Rental income |
Rental income represents rents receivable during the financial year, excluding value added tax. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1st May 2023 |
and 30th April 2024 |
DEPRECIATION |
At 1st May 2023 |
Charge for year |
At 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st May 2023 |
Disposals | ( |
) |
At 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
DAM Investments and Properties Limited (Registered number: 07401732) |
Notes to the Financial Statements - continued |
for the Year Ended 30th April 2024 |
5. | INVESTMENT PROPERTY - continued |
In the directors opinion the investment properties are stated at their fair value. Fair value is determined by external valuers and derived from the current market rents and investment property yields for comparable properties, adjusted if necessary for any difference in the nature, location or condition of the specific asset. The majority of the investment properties are used for operating leases. |
Fair value at 30th April 2024 is represented by: |
£ |
Valuation in 2024 | 620,381 |
Cost | 8,538,861 |
9,159,242 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Amounts owed by associates |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Amounts owed to associates |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans (see note 9) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years by instalments | - | 1,070,213 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
30.4.24 | 30.4.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans - less than 1 year |
DAM Investments and Properties Limited (Registered number: 07401732) |
Notes to the Financial Statements - continued |
for the Year Ended 30th April 2024 |
9. | LOANS - continued |
30.4.24 | 30.4.23 |
£ | £ |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years by instalments | - | 1,070,213 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
The bank loan is secured by debentures in favour of Barclays Bank Plc dated 8 July 2016, 26 July 2016, 20 February 2020 and 2 March 2021 over the whole of the undertakings, property and assets of the company together with an intercompany guarantee between Hartford Holdings Limited, Trojan Plastics Limited, DAM Investments and Properties Limited and Mantaleda Bathroom Company Limited. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.24 | 30.4.23 |
value: | £ | £ |
Ordinary 'B' | 10p | 243 | 243 |
Ordinary 'C' | 10p | 242 | 242 |
Ordinary 'D' | 10p | 374 | 374 |
859 | 859 |
12. | RELATED PARTY DISCLOSURES |
During the year to 30 April 2024, operating costs of £799,269 (2023 - £639,772) were charged to associated companies. At 30 April 2024 £1,000,000 was due to an associated company (2023 - £1,050,000 was due from an associated company). |
13. | ULTIMATE CONTROLLING PARTY |
There is no controlling party. |