Dalian Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03446091 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DALIAN PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D P McManaman

Mr I C McManaman

REGISTERED OFFICE:

57 Micklegate

York

North Yorkshire

YO1 6LJ

REGISTERED NUMBER:

03446091 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

Equinox House

Clifton Park, Shipton Road

York

YO30 5PA

FIXED ASSETS

Tangible assets

4

18,358

17,893

Investments

5

Investment property

6

19,515,403

19,533,766

19,533,301

CURRENT ASSETS

Stocks

50,000

Debtors

7

156,399

174,691

Cash at bank and in hand

231,385

242,071

437,784

466,762

CREDITORS

Amounts falling due within one year

8

5,504,020

5,546,760

NET CURRENT LIABILITIES

(5,066,236

)

(5,079,998

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,467,530

14,453,303

CREDITORS

Amounts falling due after more than
one year

9

(2,142,766

)

(2,246,100

)

PROVISIONS FOR LIABILITIES

(361,108

)

(389,605

)

NET ASSETS

11,963,656

11,817,598

CAPITAL AND RESERVES

Called up share capital

10

2

Revaluation reserve

11

4,483,026

4,569,216

Retained earnings

11

7,480,628

7,248,380

SHAREHOLDERS' FUNDS

11,963,656

11,817,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2025 and were signed on its behalf by:

Mr I C McManaman - Director

1.	STATUTORY INFORMATION

Dalian Properties 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the value, excluding Value Added Tax, of services supplied to customers during the year.

Property rents are reported in turnover in the period in which they relate to.

Management charges are reported in turnover in the period in which the performance has taken place in accordance with the specific terms of the contract for service.

Options granted over land are only recognized in turnover when an Exercise Notice has been served during the option period, following the grant of relevant planning permission relating to the whole of the property, served within two months of determining the price of the property and following the service of the price notice. Until such contractual terms have been satisfied title to the property does not pass to the purchaser, performance has not taken place and the right to consideration has not been earned. None of these contractual terms are under the control of the company.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

56,544

Additions

17,692

At 31 December 2024

74,236

DEPRECIATION

At 1 January 2024

38,651

Charge for year

17,227

At 31 December 2024

55,878

NET BOOK VALUE

At 31 December 2024

18,358

At 31 December 2023

17,893

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

5

NET BOOK VALUE

At 31 December 2024

5

At 31 December 2023

5

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

19,515,403

Additions

114,802

Revaluations

(114,802

)

At 31 December 2024

19,515,403

NET BOOK VALUE

At 31 December 2024

19,515,403

At 31 December 2023

19,515,403

Freehold investment properties with a historical cost of £14,727,629 (2023 - £14,561,057) were revalued by the directors of the company and the current fair value is considered to be £19,515,403 (2023 - £19,515,403). The valuation takes into account a number of valuation factors including the length of existing leases.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

133,113

132,156

Other debtors

23,286

42,535

156,399

174,691

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

111,112

Trade creditors

33,350

40,397

Taxation and social security

52,743

59,672

Other creditors

5,306,815

5,335,579

5,504,020

5,546,760

The bank loans are secured by a debenture and a first priority legal charge over each property held by the company

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans

2,142,766

2,246,100

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

2,134,988

The bank loans are secured by a debenture and a first priority legal charge over each property held by the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

10

Ordinary

0.20

2

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 1 January 2024

7,248,380

4,569,216

11,817,596

Profit for the year

146,058

Other movement

86,190

(86,190

)

-

At 31 December 2024

7,480,628

4,483,026

11,963,654

12.	RELATED PARTY DISCLOSURES

The company is controlled by the directors.

The directors of the company are also directors of Mack & Lawler Builders Limited. At the year end the company owed £5,112,960 (2023 - £5,143,149) to Mack & Lawler Builders Limited in respect of loans made to the company. This is included in other creditors