REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 14 OCTOBER 2020 TO 31 OCTOBER 2021 |
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DAXLEY PROPERTIES LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 14 OCTOBER 2020 TO 31 OCTOBER 2021 |
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FOR |
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DAXLEY PROPERTIES LIMITED |
DAXLEY PROPERTIES LIMITED (REGISTERED NUMBER: 12951536) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 14 OCTOBER 2020 TO 31 OCTOBER 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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DAXLEY PROPERTIES LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 14 OCTOBER 2020 TO 31 OCTOBER 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
and Chartered Tax Advisers |
Larch House |
Parklands Business Park |
Denmead |
Hampshire |
PO7 6XP |
DAXLEY PROPERTIES LIMITED (REGISTERED NUMBER: 12951536) |
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BALANCE SHEET |
31 OCTOBER 2021 |
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Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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DAXLEY PROPERTIES LIMITED (REGISTERED NUMBER: 12951536) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 14 OCTOBER 2020 TO 31 OCTOBER 2021 |
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1. | STATUTORY INFORMATION |
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Daxley Properties Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements show a net current liability at the balance sheet date. This position is due principally to amounts owed to directors. The directors have agreed not to seek repayment of the money owed to them unless the company has sufficient funds to do so. The directors, on this basis, have prepared the financial statements on the going concern basis. |
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Turnover |
Turnover represents rentals due in the year, excluding value added tax. |
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Investment property |
Investment property is carried at fair value determined annually by the directors using information available to them unless an external valuation has been provided during the financial period. No depreciation is provided. Changes in fair value are recognised in profit or loss. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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DAXLEY PROPERTIES LIMITED (REGISTERED NUMBER: 12951536) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 14 OCTOBER 2020 TO 31 OCTOBER 2021 |
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4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
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At 31 October 2021 |
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NET BOOK VALUE |
At 31 October 2021 |
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Investment property was valued on an open market basis by the directors on 31 October 2021. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
£ |
Bank loans |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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Bank loans |
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The company's bank loan is secured by a first legal charge over the company's investment property, a debenture and a guarantee for £277,500 from a connected company. |
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9. | RELATED PARTY DISCLOSURES |
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At the balance sheet date the company owed the directors £93,599. |
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During the period the company received rent from a connected company totalling £37,500. |
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10. | ULTIMATE CONTROLLING PARTY |
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The company is not under the control of any one party. |