REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
FOR |
WHITE DRAGON PROPERTY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
FOR |
WHITE DRAGON PROPERTY LIMITED |
WHITE DRAGON PROPERTY LIMITED (REGISTERED NUMBER: 09811017) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WHITE DRAGON PROPERTY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
WHITE DRAGON PROPERTY LIMITED (REGISTERED NUMBER: 09811017) |
BALANCE SHEET |
28TH FEBRUARY 2025 |
2025 | 2024 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Fair value reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
WHITE DRAGON PROPERTY LIMITED (REGISTERED NUMBER: 09811017) |
BALANCE SHEET - continued |
28TH FEBRUARY 2025 |
The financial statements were approved by the Board of Directors and authorised for issue on |
WHITE DRAGON PROPERTY LIMITED (REGISTERED NUMBER: 09811017) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
1. | STATUTORY INFORMATION |
White Dragon Property Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The turnover shown in the profit and loss account represents the fair value of rental income received or receivable during the year, adjusted for income received in advance. |
Tangible fixed assets |
Fixtures and fittings | - |
All fixed assets are initially recorded at cost. |
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. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
WHITE DRAGON PROPERTY LIMITED (REGISTERED NUMBER: 09811017) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
3. | ACCOUNTING POLICIES - continued |
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1st March 2024 |
and 28th February 2025 |
DEPRECIATION |
At 1st March 2024 |
Charge for year |
At 28th February 2025 |
NET BOOK VALUE |
At 28th February 2025 |
At 29th February 2024 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st March 2024 |
and 28th February 2025 |
NET BOOK VALUE |
At 28th February 2025 |
At 29th February 2024 |
Fair value at 28th February 2025 is represented by: |
£ |
Valuation in 2017 | 17,591 |
Valuation in 2018 | 10,000 |
Valuation in 2022 | 3,475 |
Valuation in 2023 | 20,000 |
Cost | 328,934 |
380,000 |
The valuation model used to establish the fair value for the revaluation of the investment property assumes that there are no factors which would cause the property to achieve less than full open market value were it to be made available for sale. The directors are not aware of any such factors that would need to be taken into account for establishing the fair value and as a result the valuation has been based on an open market value. |
WHITE DRAGON PROPERTY LIMITED (REGISTERED NUMBER: 09811017) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Trade creditors |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2025 | 2024 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2025 | 2024 |
£ | £ |
Other loans |
Other loans represents a mortgage on the investment property which is secured by way of a fixed charge over the investment property and ancillary assets together with a floating charge over the business and all other assets. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2025 | 2024 |
value: | £ | £ |
Ordinary | £1 | 50 | 50 |