Registration number:
Dan Bailey Properties Limited
for the Period from 24 October 2023 to 31 October 2024
Dan Bailey Properties Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Dan Bailey Properties Limited
(Registration number: 15232727)
Balance Sheet as at 31 October 2024
Note |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
2 |
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Retained earnings |
(10,104) |
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Shareholders' deficit |
(10,102) |
Dan Bailey Properties Limited
(Registration number: 15232727)
Balance Sheet as at 31 October 2024
For the financial period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Dan Bailey Properties Limited
Notes to the Unaudited Financial Statements for the Period from 24 October 2023 to 31 October 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable in relation to rental income from an investment property. Turnover is shown net of sales, returns, rebates and discounts.
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
20% straight line basis |
Investment property
Dan Bailey Properties Limited
Notes to the Unaudited Financial Statements for the Period from 24 October 2023 to 31 October 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Tangible assets |
Fixtures and fittings |
Total |
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Cost or valuation |
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Additions |
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At 31 October 2024 |
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Depreciation |
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Charge for the period |
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At 31 October 2024 |
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Carrying amount |
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At 31 October 2024 |
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Investment properties |
2024 |
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Additions |
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At 31 October |
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There has been no valuation of investment property by an independent valuer.
Dan Bailey Properties Limited
Notes to the Unaudited Financial Statements for the Period from 24 October 2023 to 31 October 2024
Debtors |
Current |
2024 |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
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Due within one year |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2024 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
2024 |
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Bank borrowings |
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The mortgage is secured by personal guarentees by the Directors.
Related party transactions |
Summary of transactions with other related parties
During the year, the company had transactions with Dan Bailey Building Limited, a company which D Bailey and K Bailey are also Directors.
At the balance sheet date, the amount due to Dan Bailey Building Limited was £62,837.
Dan Bailey Properties Limited
Notes to the Unaudited Financial Statements for the Period from 24 October 2023 to 31 October 2024
Going concern |
The company has sufficient financial support from the directors and as a consequence, they believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook.
The directors haave a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.