Registered number
08202482
Dawley Properties Ltd
Filleted Accounts
30 September 2024
Dawley Properties Ltd
Registered number: 08202482
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,151,788 1,183,110
Current assets
Debtors 4 2,620 1,393
Cash at bank and in hand 53,043 60,561
55,663 61,954
Creditors: amounts falling due within one year 5 (82,951) (77,730)
Net current liabilities (27,288) (15,776)
Total assets less current liabilities 1,124,500 1,167,334
Creditors: amounts falling due after more than one year 6 (196,895) (290,211)
Provisions for liabilities (3,553) (4,819)
Net assets 924,052 872,304
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 767,206 767,206
Profit and loss account 156,746 104,998
Shareholders' funds 924,052 872,304
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Walker
Director
Approved by the board on 12 December 2024
Dawley Properties Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% reducing balance
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery Fixtures, fittings, tools and equipment Total
£ £ £ £
Cost
At 1 October 2023 1,300,000 189,540 20,747 1,510,287
At 30 September 2024 1,300,000 189,540 20,747 1,510,287
Depreciation
At 1 October 2023 171,437 146,381 9,359 327,177
Charge for the year 22,571 6,473 2,278 31,322
At 30 September 2024 194,008 152,854 11,637 358,499
Net book value
At 30 September 2024 1,105,992 36,686 9,110 1,151,788
At 30 September 2023 1,128,563 43,159 11,388 1,183,110
Freehold land and buildings: 2024 2023
£ £
Historical cost 532,794 532,794
Cumulative depreciation based on historical cost - -
532,794 532,794
4 Debtors 2024 2023
£ £
Trade debtors (875) -
Other debtors 3,495 1,393
2,620 1,393
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 56,733 62,031
Trade creditors 60 (17)
Taxation and social security costs 23,063 12,709
Other creditors 3,095 3,007
82,951 77,730
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 114,367 164,495
Trade creditors 6,500 6,500
Other creditors 76,028 119,216
196,895 290,211
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years - 225,953
Secured bank loans 212,359 212,359
Lloyds Bank current hold a debenture in respect of the freehold property as security.
8 Revaluation reserve 2024 2023
£ £
At 1 October 2023 767,206 767,206
At 30 September 2024 767,206 767,206
9 Other information
Dawley Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Offices
Wartell Bank Ind Est
Kingswinford
West Midlands
DY6 7QQ
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