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Registration number: 15232727

Dan Bailey Properties Limited

Unaudited Filleted Financial Statements

for the Period from 24 October 2023 to 31 October 2024

 

Dan Bailey Properties Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Dan Bailey Properties Limited

(Registration number: 15232727)
Balance Sheet as at 31 October 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

4,333

Investment property

5

213,598

 

217,931

Current assets

 

Debtors

6

2

Cash at bank and in hand

 

2,797

 

2,799

Creditors: Amounts falling due within one year

7

(100,782)

Net current liabilities

 

(97,983)

Total assets less current liabilities

 

119,948

Creditors: Amounts falling due after more than one year

7

(130,050)

Net liabilities

 

(10,102)

Capital and reserves

 

Called up share capital

2

Retained earnings

(10,104)

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:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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 Board on 3 March 2025 and signed on its behalf by:
 

.........................................
D J Bailey
Director

 

Dan Bailey Properties Limited

Notes to the Unaudited Financial Statements for the Period from 24 October 2023 to 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

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

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

Additions

5,000

5,000

At 31 October 2024

5,000

5,000

Depreciation

Charge for the period

667

667

At 31 October 2024

667

667

Carrying amount

At 31 October 2024

4,333

4,333

5

Investment properties

2024
£

Additions

213,598

At 31 October

213,598

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

6

Debtors

Current

2024
£

Other debtors

2

 

2

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Other creditors

100,782

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

130,050

8

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

130,050

The mortgage is secured by personal guarentees by the Directors.

9

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

10

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.