Danros Investments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11480206 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 24 JULY 2018 TO 31 DECEMBER 2019

FOR

DANROS INVESTMENTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D A Glinert

R R Pathman

REGISTERED OFFICE:

2 Dancastle Court

14 Arcadia Avenue

London

N3 2JU

REGISTERED NUMBER:

11480206 (England and Wales)

ACCOUNTANTS:

Harford Michaels Kaye Limited

Chartered Certified Accountants

2 Dancastle Court

14 Arcadia Avenue

London

N3 2JU

FIXED ASSETS

Investment property

4

2,780,000

CURRENT ASSETS

Debtors

5

52,810

Cash at bank

53,497

106,307

CREDITORS

Amounts falling due within one year

6

(1,523,834

)

NET CURRENT LIABILITIES

(1,417,527

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,362,473

CREDITORS

Amounts falling due after more than one year

7

(1,200,000

)

PROVISIONS FOR LIABILITIES

9

(32,351

)

NET ASSETS

130,122

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

130,120

130,122

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2019 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 23 March 2020 and were signed on its behalf by:

D A Glinert - Director

R R Pathman - Director

1.	STATUTORY INFORMATION

Danros Investments Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets or

liabilities like trade debtors, other debtors, trade creditors and other creditors, loans from banks or other third

parties and loans to/from related parties.

Debt instruments like bank loans are initially measured at present value of future payments and subsequently at

amortised cost using the effective interest method. Debt instruments which are payable or receivable within one

year such as trade debtors or trade creditors are measured, initially and subsequently at the undiscounted amount

of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in the profit & loss account.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

3,099,431

Disposals

(506,137

)

Revaluations

186,706

At 31 December 2019

2,780,000

NET BOOK VALUE

At 31 December 2019

2,780,000

Fair value at 31 December 2019 is represented by:

£

Valuation in 2019

186,706

Cost

2,593,294

2,780,000

If the investment property had not been revalued it would have been included at the following historical cost:

£

Cost

2,593,294

The investment property was valued on an open market basis on 31 December 2019 by the directors of the company

.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

20,113

Other debtors

32,697

52,810

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other loans

1,476,000

Trade creditors

11,321

Tenant deposits

2,310

Directors' current accounts

66

Accruals and deferred income

34,137

1,523,834

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Directors' loan accounts

1,200,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Other loans

1,476,000

9.	PROVISIONS FOR LIABILITIES

£

Deferred tax

32,351

Deferred

tax

£

Charge to Statement of Income and Retained Earnings during period

32,351

Balance at 31 December 2019

32,351

10.	RELATED PARTY DISCLOSURES

As at the balance sheet date, the company owed a director the sum of £1,200,066. During the period, interest was

paid to this director in the sum of £45,000.

In addition, during the period, the company sold two properties to the joint pension fund of the directors for

£490,000 in total. These transactions were conducted on an open market value basis.

11.	RETAINED EARNINGS

None of the Retained Earnings were distributable as at the balance sheet date. If the company's investment

property had not been revalued by the directors, the balance sheet would have depicted negative Retained

Earnings of £24,235.