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Company No: 14304890 (England and Wales)

DANVY ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH THE REGISTRAR

DANVY ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024

Contents

DANVY ESTATES LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2024
DANVY ESTATES LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,236,223 0
2,236,223 0
Current assets
Debtors 4 9,927 8,927
Cash at bank and in hand 1,792 13
11,719 8,940
Creditors: amounts falling due within one year 5 ( 26,701) ( 9,140)
Net current liabilities (14,982) (200)
Total assets less current liabilities 2,221,241 (200)
Creditors: amounts falling due after more than one year 6 ( 2,216,825) 0
Net assets/(liabilities) 4,416 ( 200)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 4,316 ( 300 )
Total shareholder's funds/(deficit) 4,416 ( 200)

For the financial year ending 31 August 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 Danvy Estates Limited (registered number: 14304890) were approved and authorised for issue by the Director on 20 May 2025. They were signed on its behalf by:

P K Vij
Director
DANVY ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
DANVY ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 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

Danvy Estates 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 16 Barmoor Drive, Newcastle Upon Tyne, NE3 5RG, United Kingdom.

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

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The current period is for the year from 1 September 2023 to 31 August 2024. The prior period was prepared from 18 August 2022 to 31 August 2023 in order to include all transactions from the date of incorporation. The comparative figures are therefore not entirely comparable.

Turnover

Turnover represents amounts received and receivable for rental of property and related services. Turnover is recognised on an accruals basis on the period covered by each rental receipt.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 current 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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Framework Transition

The company has transitioned from FRS105 to FRS102 (1A) to in the financial year ended 31 August 2024 . No comparatives in the financial statements have been re-stated as a result of this change in reporting standard.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Investment property Total
£ £
Cost/Valuation
At 01 September 2023 0 0
Additions 2,236,223 2,236,223
At 31 August 2024 2,236,223 2,236,223
Accumulated depreciation
At 01 September 2023 0 0
At 31 August 2024 0 0
Net book value
At 31 August 2024 2,236,223 2,236,223
At 31 August 2023 0 0

Investment properties

The director has confirmed there has been no change to the market value of the investment properties during the year.

4. Debtors

2024 2023
£ £
Amounts owed by related parties 9,927 8,927

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to related parties 14,208 0
Taxation and social security 1,013 0
Other creditors 11,480 9,140
26,701 9,140

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

2024 2023
£ £
Bank loans 1,836,000 0
Other creditors 380,825 0
2,216,825 0

Bank loans contain floating charges which cover all the property and undertakings of the company. There is also a personal guarantee in place, pledged by the Company Director.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans 1,836,000 0

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each (2023: nil shares) 100 0

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts due from Director 8,900 8,900

The loan to the director is interest free and repayable on demand

Other related party transactions

2024 2023
£ £
DK Vij Settlement Trust 380,825 0
North East Childcare Limited 14,208 0

The amounts due to related parties are interest free and repayable on demand. The companies noted above are under common control of the director. The director has confirmed the loan balance with DK Vij Settlement Trust will not be repaid for a period of at least 12 months.