Company registration number 05516200 (England and Wales)
DRAGON PROPERTIES (WALES) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
DRAGON PROPERTIES (WALES) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
DRAGON PROPERTIES (WALES) LIMITED
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
246,202
246,202
Current assets
Debtors
4
958
589
Cash at bank and in hand
14,912
9,006
15,870
9,595
Creditors: amounts falling due within one year
5
(181,209)
(180,040)
Net current liabilities
(165,339)
(170,445)
Total assets less current liabilities
80,863
75,757
Creditors: amounts falling due after more than one year
6
(1,802)
(9,856)
Provisions for liabilities
(5,276)
(5,276)
Net assets
73,785
60,625
Capital and reserves
Called up share capital
1,000
1,000
Fair value reserve
22,493
22,493
Profit and loss reserves
50,292
37,132
Total equity
73,785
60,625
DRAGON PROPERTIES (WALES) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024
31 July 2024
- 2 -
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 24 May 2025 and are signed on its behalf by:
Mr T Hayes
Director
Company registration number 05516200 (England and Wales)
DRAGON PROPERTIES (WALES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information
Dragon Properties (Wales) Limited is a private company limited by shares incorporated in England and Wales. The registered office is London House, Bron Y Llan Road, Llysfaen, Colwyn Bay, Conwy, Wales, LL29 8TP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover comprises the fair value of rents receivable in the year.
1.3
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
DRAGON PROPERTIES (WALES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
3
Investment property
2024
£
Fair value
At 1 August 2023 and 31 July 2024
246,202
The company's investment properties are stated at the open market value as at 31 July 2024, as valued by the directors.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
615
377
Other debtors
343
212
958
589
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
7,675
7,275
Corporation tax
3,087
2,378
Other creditors
170,447
170,387
181,209
180,040
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,802
9,856
Creditors include a bank loan of £9,477 (2023: £17,131) which is secured on the property to which it relates.