Registered number
14144914
Datoo Partnership Ltd
Filleted Accounts
31 March 2024
Datoo Partnership Ltd
Registered number: 14144914
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 6,352,250 -
Current assets
Debtors 4 785,905 4
Cash at bank and in hand 77,181 -
863,086 4
Creditors: amounts falling due within one year 5 (1,421,796) -
Net current (liabilities)/assets (558,710) 4
Total assets less current liabilities 5,793,540 4
Creditors: amounts falling due after more than one year 6 (2,794,424) -
Net assets 2,999,116 4
Capital and reserves
Called up share capital 1,000 4
Share premium 2,971,250 -
Profit and loss account 26,866 -
Shareholders' funds 2,999,116 4
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Datoo
Director
Approved by the board on 28 March 2025
Datoo Partnership Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Rental income from investment properties is recognised in the profit and loss on a straight line basis over the lease term.
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase costs and directly attributable expenditure. Subsequently it is measure at fair value at the reporting end date. Changes in fair value are recognised in the profit and loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Finance costs
Loan arrangement fees are recognised in the profit and loss as and when they are incurred.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Investment
Property
£
Fair value
Additions 6,352,250
At 31 March 2024 6,352,250
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors on 31 March 2024. The valuation was made on an open market value basis by reference to market evidence of transactions prices for similar properties.
4 Debtors 2024 2023
£ £
Amounts owed by companies under common control 749,228 -
Other debtors 36,677 4
785,905 4
5 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to companies under common control 1,286,100 -
Taxation and social security costs 16,243 -
Other creditors 119,453 -
1,421,796 -
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,794,424 -
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 1,860,328 -
Instalments falling due for payment after more than five years 29,216 -
1,889,544 -
Secured bank loans 2,794,424 -
The bank loans are secured by way of a fixed charge over the investment properties. Details of the charges filed are available at Companies House.
8 Other information
Datoo Partnership Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Stoneham House
17 Scarbrook Road
Croydon
CR0 1SQ
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