Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Mr M C Doney 28/08/2019 15 January 2025 The principal activity of the Company during the financial year was the rental of residential property. 12178801 2024-05-31 12178801 bus:Director1 2024-05-31 12178801 2023-05-31 12178801 core:CurrentFinancialInstruments 2024-05-31 12178801 core:CurrentFinancialInstruments 2023-05-31 12178801 core:Non-currentFinancialInstruments 2024-05-31 12178801 core:Non-currentFinancialInstruments 2023-05-31 12178801 core:ShareCapital 2024-05-31 12178801 core:ShareCapital 2023-05-31 12178801 core:RetainedEarningsAccumulatedLosses 2024-05-31 12178801 core:RetainedEarningsAccumulatedLosses 2023-05-31 12178801 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-05-31 12178801 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-05-31 12178801 2023-06-01 2024-05-31 12178801 bus:FilletedAccounts 2023-06-01 2024-05-31 12178801 bus:SmallEntities 2023-06-01 2024-05-31 12178801 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 12178801 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12178801 bus:Director1 2023-06-01 2024-05-31 12178801 2022-06-01 2023-05-31 12178801 core:Non-currentFinancialInstruments 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Company No: 12178801 (England and Wales)

DONEY PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH THE REGISTRAR

DONEY PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024

Contents

DONEY PROPERTIES LTD

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
DONEY PROPERTIES LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
DIRECTOR Mr M C Doney
REGISTERED OFFICE C/O Pm+M
New Century House Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
United Kingdom
COMPANY NUMBER 12178801 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
DONEY PROPERTIES LTD

BALANCE SHEET

AS AT 31 MAY 2024
DONEY PROPERTIES LTD

BALANCE SHEET (continued)

AS AT 31 MAY 2024
Note 2024 2023
£ £
Fixed assets
Investment property 4 515,223 340,370
515,223 340,370
Current assets
Debtors 5 614 156
Cash at bank and in hand 1,288 805
1,902 961
Creditors: amounts falling due within one year 6 ( 402,327) ( 235,664)
Net current liabilities (400,425) (234,703)
Total assets less current liabilities 114,798 105,667
Creditors: amounts falling due after more than one year 7 ( 117,506) ( 117,500)
Provision for liabilities 571 2,983
Net liabilities ( 2,137) ( 8,850)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 2,237 ) ( 8,950 )
Total shareholder's deficit ( 2,137) ( 8,850)

For the financial year ending 31 May 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 financial statements of Doney Properties Ltd (registered number: 12178801) were approved and authorised for issue by the Director on 15 January 2025. They were signed on its behalf by:

Mr M C Doney
Director
DONEY PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
DONEY PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Doney Properties Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Pm+M, New Century House Greenbank Technology Park, Challenge Way, Blackburn, BB1 5QB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £2,137. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received for rents provided in the normal course of business.

Taxation


Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

4. Investment property

Investment property
£
Valuation
As at 01 June 2023 340,370
Additions 174,853
As at 31 May 2024 515,223

Valuation

Investment property is held at fair value as considered by the director.

5. Debtors

2024 2023
£ £
Other debtors 614 156

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to related parties 401,199 234,774
Other creditors 1,128 890
402,327 235,664

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 117,506 117,500

Bank loans comprise mortgages secured against assets to which they relate, and are repayable after more than five years.

8. Related party transactions

Mr M C Doney is the sole director and shareholder of Doney Timbers Limited. Amounts owed to related parties fully comprises amounts owed to Doney Timbers Limited, which are interest-free and repayable on demand.