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REGISTERED NUMBER: 07917214





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

I & R DANIELS LTD

I & R DANIELS LTD (REGISTERED NUMBER: 07917214)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


I & R DANIELS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: R Daniels
I S Daniels





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 07917214





ACCOUNTANTS: AC Partners LLP
Chartered Accountants
869 High Road
London
N12 8QA

I & R DANIELS LTD (REGISTERED NUMBER: 07917214)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,854,383 1,870,000

CURRENT ASSETS
Cash at bank 10,708 6,062

CREDITORS
Amounts falling due within one year 5 7,786 6,000
NET CURRENT ASSETS 2,922 62
TOTAL ASSETS LESS CURRENT LIABILITIES 1,857,305 1,870,062

CREDITORS
Amounts falling due after more than one year 6 (896,128 ) (935,812 )

PROVISIONS FOR LIABILITIES (227,755 ) (173,094 )
NET ASSETS 733,422 761,156

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Non-distributable reserve 683,266 737,927
Retained earnings 49,156 22,229
733,422 761,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:





R Daniels - Director


I & R DANIELS LTD (REGISTERED NUMBER: 07917214)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

I & R Daniels Ltd is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover represents rental income receivable.

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.

Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

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 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 1,870,000
Disposals (15,617 )
At 31 August 2024 1,854,383
NET BOOK VALUE
At 31 August 2024 1,854,383
At 31 August 2023 1,870,000


I & R DANIELS LTD (REGISTERED NUMBER: 07917214)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 6,526 4,830
Other creditors 1,260 1,170
7,786 6,000

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 438,213 452,162
Other creditors 457,915 483,650
896,128 935,812

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 438,213 452,162