Don Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10778740 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Don Investments Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr Prakash Narottambhai Patel

Mr Pranay Jayantilal Paw

Mr Nahendrabhai Nathubhai Patel

REGISTERED OFFICE:

A Dhillon & Co

61-63 Alexandra Road

Walsall

United Kingdom

WS1 4DX

REGISTERED NUMBER:

10778740 (England and Wales)

ACCOUNTANTS:

Dhillon Accountants Limited

Chartered Accountants

61-63 Alexandra Road

Walsall

West Midlands

WS1 4DX

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Don Investments Limited for the year ended 31 March 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Don Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Don Investments Limited and state those matters that we have agreed to state to the Board of Directors of Don Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Don Investments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Don Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Don Investments Limited. You consider that Don Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Don Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dhillon Accountants Limited

Chartered Accountants

61-63 Alexandra Road

Walsall

West Midlands

WS1 4DX

Date: .............................................

FIXED ASSETS

Investments

4

150,000

150,000

Investment property

5

487,142

357,795

637,142

507,795

CURRENT ASSETS

Debtors

6

1,274

1,274

Cash at bank and in hand

6,261

13,696

7,535

14,970

CREDITORS

Amounts falling due within one year

7

(411,604

)

(292,885

)

NET CURRENT LIABILITIES

(404,069

)

(277,915

)

TOTAL ASSETS LESS CURRENT LIABILITIES

233,073

229,880

CREDITORS

Amounts falling due after more than one year

8

(165,146

)

(181,309

)

NET ASSETS

67,927

48,571

CAPITAL AND RESERVES

Called up share capital

9

300

300

Retained earnings

67,627

48,271

SHAREHOLDERS' FUNDS

67,927

48,571

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 6 August 2021 and were signed on its behalf by:

Mr Nahendrabhai Nathubhai Patel - Director

1.	STATUTORY INFORMATION

Don Investments 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable.

Investment property

All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilized. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Tangible assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold

No depreciation

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Unlisted

investment

£

COST

At 1 April 2020

and 31 March 2021

150,000

NET BOOK VALUE

At 31 March 2021

150,000

At 31 March 2020

150,000

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

357,795

Additions

129,347

At 31 March 2021

487,142

NET BOOK VALUE

At 31 March 2021

487,142

At 31 March 2020

357,795

Investment properties were subject to valuation by the Directors who are not professionally valuers, but have experience in the location and class of investment properties revalued. In the opinion of the Directors, there has been no major change in the property values from the time they were acquired.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

1,274

1,274

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Tax

4,540

4,395

Other creditors

263,657

144,483

Directors' current accounts

143,407

143,407

Accruals and deferred income

-

600

411,604

292,885

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans - 1-2 years

22,611

9,434

Bank loans - 2-5 years

142,535

171,875

165,146

181,309

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

300

Ordinary

£1

300

300

10.	RELATED PARTY DISCLOSURES

The company owes £263,057 (2020 - £136,736) to BPP Properties Limited (BPP).

Pranay Paw, Prakash Patel and Nahendrabhai Patel were also the directors of BPP as of 31st March, 2021.