Dance International Property Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC591374

Dance International Property Ltd

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Dance International Property Ltd

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	996,434	996,224

Current assets

Debtors	6	1,696	3,303
Cash at bank and in hand		493,440	4,523
		---------	-------
		495,136	7,826

Creditors: amounts falling due within one year	7	1,281,445	825,323
		------------	---------
Net current liabilities		786,309	817,497
		---------	---------
Total assets less current liabilities		210,125	178,727
		---------	---------
Net assets		210,125	178,727
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	210,025	178,627
	---------	---------
Shareholders funds	210,125	178,727
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

Dance International Property Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 31 December 2025 , and are signed on behalf of the board by:

Mr D Hamilton

Director

Company registration number: SC591374

Dance International Property Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is The Mechanics Workshop, New Lanark, Lanark, ML11 9DB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. The directors have estimated the value of the investment property based on their knowledge of the property market in the surrounding area.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents rental payments receivable, stated net of discounts. Rental incomes are recognised on the accruals basis.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% reducing balance

Investment properties 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. No depreciation is charged on investment property.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Equipment	Investment Property	Total
	£	£	£
Cost
At 1 April 2024	4,958	994,757	999,715
Additions	768	–	768
	-------	---------	------------
At 31 March 2025	5,726	994,757	1,000,483
	-------	---------	------------
Depreciation
At 1 April 2024	3,491	–	3,491
Charge for the year	558	–	558
	-------	---------	------------
At 31 March 2025	4,049	–	4,049
	-------	---------	------------
Carrying amount
At 31 March 2025	1,677	994,757	996,434
	-------	---------	------------
At 31 March 2024	1,467	994,757	996,224
	-------	---------	------------

Capital commitments

	2025	2024
	£	£
Contracted for but not provided for in the financial statements	425,000	–
	---------	----

6. Debtors

	2025	2024
	£	£
Trade debtors	1,696	3,303
	-------	-------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	6,410	–
Social security and other taxes	256	255
Other creditors	1,274,779	825,068
	------------	---------
	1,281,445	825,323
	------------	---------

8. Directors' advances, credits and guarantees

The Director has advanced the company a loan to finance the acquisition of properties. The balance due to the Director at the balance sheet date was £1,273,779 (2024 - £824,068). There are no set interest or repayment terms attached to this loan.