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DUNNE PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Dunne Properties Ltd is a private company, limited by shares, registered in England and Wales. The company's registered office address is MHA House, Charter Court, Phoenix Way, Swansea Enterprise Park, Swansea, Wales, SA7 9FS.
The presentation currency of the financial statements is the Pound Sterling (£).
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis. The director has agreed to continue to support the company for a minimum of twelve months from the date of signing these financial statements. This support will be reviewed at that date.
The company has been able to finance, during the year and post year end, its operations largely because of the support from the directors and other creditors. The advances made to date by the directors are interest free and there are no set terms of repayment. The directors are confident that the company will be able to meet its obligations as they fall due.
On the basis of the above, the directors consider it appropriate to prepare the accounts on a going concern basis.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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