| REGISTERED NUMBER: |
| DY ASSET MANAGEMENT LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH NOVEMBER 2024 |
| REGISTERED NUMBER: |
| DY ASSET MANAGEMENT LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH NOVEMBER 2024 |
| DY ASSET MANAGEMENT LTD (REGISTERED NUMBER: SC750462) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH NOVEMBER 2024 |
| Page |
| Company Information | 1 |
| Chartered Certified Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| DY ASSET MANAGEMENT LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30TH NOVEMBER 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 4 Royal Crescent |
| Glasgow |
| G3 7SL |
| CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| DY ASSET MANAGEMENT LTD |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DY Asset Management Ltd for the year ended 30th November 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the director of DY Asset Management Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of DY Asset Management Ltd and state those matters that we have agreed to state to the director of DY Asset Management Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at |
| https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. |
| To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
| It is your duty to ensure that DY Asset Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of DY Asset Management Ltd. You consider that DY Asset Management Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of DY Asset Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Certified Accountants |
| 4 Royal Crescent |
| Glasgow |
| G3 7SL |
| DY ASSET MANAGEMENT LTD (REGISTERED NUMBER: SC750462) |
| BALANCE SHEET |
| 30TH NOVEMBER 2024 |
| 30.11.24 | 30.11.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his 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. |
| DY ASSET MANAGEMENT LTD (REGISTERED NUMBER: SC750462) |
| BALANCE SHEET - continued |
| 30TH NOVEMBER 2024 |
| The financial statements were approved by the director and authorised for issue on |
| DY ASSET MANAGEMENT LTD (REGISTERED NUMBER: SC750462) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH NOVEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| DY Asset Management Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The company had negative reserves of £18,648 as at 30th November 2024 (2023 - £15,653). The director will continue to provide his support to the company and believes it is appropriate to prepare the financial statements on a going concern basis. |
| Turnover |
| The turnover shown in the profit and loss account represents the sales value of work done during the year, exclusive of Value Added Tax. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Investment property |
| Investment properties are shown at fair value. Gains are recognised in the income statement. Deferred |
| taxation is provided on these gains at the rate expected to apply when the property is sold. |
| Financial instruments |
| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by 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. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| DY ASSET MANAGEMENT LTD (REGISTERED NUMBER: SC750462) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH NOVEMBER 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1st December 2023 |
| Additions |
| At 30th November 2024 |
| DEPRECIATION |
| At 1st December 2023 |
| Charge for year |
| At 30th November 2024 |
| NET BOOK VALUE |
| At 30th November 2024 |
| At 30th November 2023 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st December 2023 |
| and 30th November 2024 |
| NET BOOK VALUE |
| At 30th November 2024 |
| At 30th November 2023 |
| Fair value at 30th November 2024 is represented by: |
| £ |
| Valuation in 2023 | (13,337 | ) |
| Cost | 103,337 |
| 90,000 |
| If the investment property had not been revalued it would have been included at the following historical cost: |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Cost | 103,337 | 103,337 |
| The investment property was valued on fair value basis on 30th November 2023 by Dale Young, a director . |
| DY ASSET MANAGEMENT LTD (REGISTERED NUMBER: SC750462) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH NOVEMBER 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Bank loans (see note 9) |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans over 5 years |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans over 5 years | 70,875 | 70,875 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Bank loans |
| The bank loan is secured by a standard charge. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.11.24 | 30.11.23 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |
| 12. | ULTIMATE CONTROLLING PARTY |
| The company was under the control of Dale Michael Young throughout the current and previous year. |