Company No:
Contents
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 |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 4 |
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515,223 | 340,370 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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1,902 | 961 | |||
Creditors: amounts falling due within one year | 6 | (
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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 | (
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Provision for liabilities |
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Net liabilities | (
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account | (
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Total shareholder's deficit | (
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Director's responsibilities:
The financial statements of Doney Properties Ltd (registered number:
Mr M C Doney
Director |
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.
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 £.
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.
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.
The fair value is determined annually by the director, on an open market value for existing use basis.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Investment property | |
£ | |
Valuation | |
As at 01 June 2023 |
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Additions | 174,853 |
As at 31 May 2024 |
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Valuation
Investment property is held at fair value as considered by the director.
2024 | 2023 | ||
£ | £ | ||
Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Amounts owed to related parties |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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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.