REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2024 |
for |
DNA Developments (York) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2024 |
for |
DNA Developments (York) Limited |
DNA Developments (York) Limited (Registered number: 10492102) |
Contents of the Financial Statements |
for the Year Ended 30 November 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DNA Developments (York) Limited |
Company Information |
for the Year Ended 30 November 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2 Hallgarth |
Pickering |
North Yorkshire |
YO18 7AW |
DNA Developments (York) Limited (Registered number: 10492102) |
Abridged Balance Sheet |
30 November 2024 |
30.11.24 | 30.11.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
DNA Developments (York) Limited (Registered number: 10492102) |
Abridged Balance Sheet - continued |
30 November 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
DNA Developments (York) Limited (Registered number: 10492102) |
Notes to the Financial Statements |
for the Year Ended 30 November 2024 |
1. | STATUTORY INFORMATION |
DNA Developments (York) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
DNA Developments (York) Limited (Registered number: 10492102) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2023 |
Revaluations | (122,500 | ) |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
Included in fair value of investment property is freehold land of £ 1,625,000 (2023 - £ 1,747,500 ) which is not depreciated. |
The investment property portfolio has been duly valued by professional bodies appointed by the directors. |
The valuation for 105 Millfield Lane was undertaken on the 26th August 2020 and valued at £525,000. |
The valuation for 3 Bishopthorpe Road was undertaken on the 15th November 2021 and valued at £950,000. |
As at the 30th November 2024, the directors reviewed the valuations above as well as the revaluations of each property and deem that the Investment Property disclosed gives a true and fair representation of the properties held. |
Fair value at 30 November 2024 is represented by: |
£ |
Valuation in 2020 | 1,334,461 |
Valuation in 2021 | 140,868 |
Valuation in 2022 | 272,171 |
Valuation in 2024 | (122,500 | ) |
1,625,000 |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
30.11.24 | 30.11.23 |
£ | £ |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
DNA Developments (York) Limited (Registered number: 10492102) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.11.24 | 30.11.23 |
£ | £ |
JD Cummins & FEJ Cummins | - | 50,000 |
SM Jagger | 689,500 | 620,550 |
A legal charge was issued on the 28 October 2020 over the property known as 3 Bishopthorpe Road, York to the value of £485,000, in relation to a loan from S M Jagger. A further charge was secured on the 1st December 2021 for £204,500. |
7. | RELATED PARTY DISCLOSURES |
DNA Developments (York) Limited received an interest free loan from Intotal Developments Limited during the 2021 reporting period. The balance owed at the year end was £126,300 (2023: £141,300) which is repayable on demand. |
A further loan was made to Bish Two York Limited to the value of £4,500 which left a balance outstanding of £6,500 (2023: £2,000) which is interest free and repayable on demand. |
During an earlier reporting period, Bish Road York Limited made a loan to the company. This loan was repaid in full during this reporting period (2023: £1,500) and was interest free and repayable on demand. During the year, the company made a loan to Bish Road York Limited to the value of £17,000. This was outstanding at the year end. The loan is interest free and repayable on demand. |
Intotal Developments Limited, Bish Two York Limited and Bish Road York Limited are companies with the same controlling parties. |