| REGISTERED NUMBER: |
| DRAGON PROPERTY HOLDINGS LIMITED |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| REGISTERED NUMBER: |
| DRAGON PROPERTY HOLDINGS LIMITED |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| DRAGON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10334008) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| DRAGON PROPERTY HOLDINGS LIMITED |
| Company Information |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Elfed House |
| Oak Tree Court |
| Cardiff Gate Business Park |
| CARDIFF |
| County of Cardiff |
| CF23 8RS |
| DRAGON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10334008) |
| Balance Sheet |
| 31 AUGUST 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| DRAGON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10334008) |
| Balance Sheet - continued |
| 31 AUGUST 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| DRAGON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10334008) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| Dragon Property Holdings Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
| The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound. |
| The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| There have been no material departures from Financial Reporting Standard 102. |
| GOING CONCERN |
| As at 31 August 2024 there were net current liabilities of £548,094 and net liabilities of £52,736. The directors consider the going concern basis adopted for these financial statement to be appropriate, based upon available continued support. |
| TURNOVER |
| Turnover represents rental income receivable for the year, excluding value added tax. |
| TANGIBLE FIXED ASSETS |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: |
| Fixtures and Fittings | 20% on cost |
| Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| 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. Deferred taxation is provided on gains at the rate expected to apply when the asset is sold. |
| CURRENT TAX |
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at 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. |
| Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits which the future reversal of the underlying timing differences can be deducted. |
| Deferred tax is measured on an un-discounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. |
| FINANCIAL INSTRUMENTS |
| Basic financial instruments are recognised at amortised cost. |
| DRAGON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10334008) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| Fittings |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 September 2023 |
| Additions |
| Revaluations | 46,079 |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| Fair value at 31 August 2024 is represented by: |
| £ |
| Valuation in 2024 | 1,330,000 |
| The properties were sold after the year end, but prior to the date of this report. Investment property values have been updated accordingly. |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Corporation tax |
| Other creditors |
| Other loans | 552,356 | 528,342 |
| Accruals and deferred income |
| DRAGON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10334008) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans | 834,642 | 834,641 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Secured loan | - | 371,342 |
| The bank loans are secured on the investment properties owned by the company. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 140,004 | 140,004 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| No interest was charged on the above loan. |