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Company No: 03194369 (England and Wales)

DUSTYLANE LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

DUSTYLANE LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

DUSTYLANE LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2024
DUSTYLANE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2024
DIRECTOR J M H Todd
REGISTERED OFFICE 22 Wycombe End
Beaconsfield
HP9 1NB
United Kingdom
COMPANY NUMBER 03194369 (England and Wales)
ACCOUNTANT S&W Partners (Thames Valley) Limited
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
DUSTYLANE LIMITED

BALANCE SHEET

As at 31 July 2024
DUSTYLANE LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 2,455,000 2,540,000
2,455,000 2,540,000
Current assets
Debtors 4 11,991 9,406
Cash at bank and in hand 4,129 13,655
16,120 23,061
Creditors: amounts falling due within one year 5 ( 931,684) ( 577,519)
Net current liabilities (915,564) (554,458)
Total assets less current liabilities 1,539,436 1,985,542
Creditors: amounts falling due after more than one year 6 ( 359,117) ( 665,804)
Provision for liabilities ( 116,550) ( 140,382)
Net assets 1,063,769 1,179,356
Capital and reserves
Called-up share capital 7 100 100
Undistributable reserve 754,823 860,141
Profit and loss account 308,846 319,115
Total shareholder's funds 1,063,769 1,179,356

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Dustylane Limited (registered number: 03194369) were approved and authorised for issue by the Director on 26 April 2025. They were signed on its behalf by:

J M H Todd
Director
DUSTYLANE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
DUSTYLANE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dustylane Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Wycombe End, Beaconsfield, HP9 1NB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Dustylane Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover represents the rental of investment properties.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Section 17 'Property, Plant and Equipment' of FRS 102, requires the provision for depreciation on fixed assets, unless the long useful life and high residual value of assets make depreciation immaterial in aggregate. Investment properties are not depreciated as the directors consider depreciation to be immaterial in aggregate, due to the high residual value and long useful life of the properties. This is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors, this departure from the Companies Act 2006 is necessary for the financial statements to give a true and fair view.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Investment property

Investment property
£
Valuation
As at 01 August 2023 2,540,000
Fair value movement (85,000)
As at 31 July 2024 2,455,000

Investment property comprises of five properties. The fair value of the investment properties has been valued by director J M H Todd at the balance sheet date. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. At the balance sheet date, the historical cost of investment properties was £1,557,478 (2023 - £1,557,478).

4. Debtors

2024 2023
£ £
Other debtors 11,991 9,406

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 368,888 76,719
Trade creditors 5,972 157
Taxation and social security 0 2,336
Other creditors 556,824 498,307
931,684 577,519

Bank loans are secured by way of a fixed and floating charge over investment properties held by the company.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 359,117 665,804

Bank loans are secured by way of a fixed and floating charge over investment properties held by the company.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100