Caseware UK (AP4) 2021.0.152 2021.0.152 2021-11-302021-11-302020-12-01falseProperty Investment44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01857392 2020-12-01 2021-11-30 01857392 2019-12-01 2020-11-30 01857392 2021-11-30 01857392 2020-11-30 01857392 2019-12-01 01857392 c:Director2 2020-12-01 2021-11-30 01857392 d:FreeholdInvestmentProperty 2020-12-01 2021-11-30 01857392 d:FreeholdInvestmentProperty 2021-11-30 01857392 d:FreeholdInvestmentProperty 2020-11-30 01857392 d:FreeholdInvestmentProperty 2 2020-12-01 2021-11-30 01857392 d:CurrentFinancialInstruments 2021-11-30 01857392 d:CurrentFinancialInstruments 2020-11-30 01857392 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 01857392 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 01857392 d:ShareCapital 2021-11-30 01857392 d:ShareCapital 2020-11-30 01857392 d:InvestmentPropertiesRevaluationReserve 2020-12-01 2021-11-30 01857392 d:InvestmentPropertiesRevaluationReserve 2021-11-30 01857392 d:InvestmentPropertiesRevaluationReserve 2020-11-30 01857392 d:RetainedEarningsAccumulatedLosses 2020-12-01 2021-11-30 01857392 d:RetainedEarningsAccumulatedLosses 2021-11-30 01857392 d:RetainedEarningsAccumulatedLosses 2020-11-30 01857392 c:FRS102 2020-12-01 2021-11-30 01857392 c:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 01857392 c:FullAccounts 2020-12-01 2021-11-30 01857392 c:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 01857392 2 2020-12-01 2021-11-30 01857392 d:OtherDeferredTax 2021-11-30 01857392 d:OtherDeferredTax 2020-11-30 iso4217:GBP xbrli:pure

Registered number: 01857392









DEFTBRENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2021

 
DEFTBRENT LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
DEFTBRENT LIMITED
REGISTERED NUMBER: 01857392

BALANCE SHEET
AS AT 30 NOVEMBER 2021

2021
2021
2020
2020
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
13,000,000
13,000,000

  
13,000,000
13,000,000

Current assets
  

Debtors: amounts falling due within one year
 5 
136,738
227,734

Cash at bank and in hand
 6 
1,059,531
109,504

  
1,196,269
337,238

Creditors: amounts falling due within one year
 7 
(2,903,280)
(2,903,780)

Net current liabilities
  
 
 
(1,707,011)
 
 
(2,566,542)

Total assets less current liabilities
  
11,292,989
10,433,458

Provisions for liabilities
  

Deferred tax
 8 
(2,432,001)
(1,340,614)

  
 
 
(2,432,001)
 
 
(1,340,614)

Net assets
  
8,860,988
9,092,844


Capital and reserves
  

Called up share capital 
  
96
96

Investment property reserve
 9 
4,536,469
5,715,248

Profit and loss account
 9 
4,324,423
3,377,500

  
8,860,988
9,092,844


Page 1

 
DEFTBRENT LIMITED
REGISTERED NUMBER: 01857392
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 June 2022.




D G Mattey
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
DEFTBRENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1.


General information

Deftbrent Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 01857392. The address of the registered office is Lawrence House, Goodwyn Avenue, Mill Hill, London, NW7 3RH. The principal activity of the company is that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents rental and ancillary income due from properties for the period.

 
2.3

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate.
Sums received for lease extensions have been deducted from the original cost where the company owns the relevant freehold reversions until the original cost is extinguished. Sums received for subsequent lease extensions are taken directly to profit and loss account.

 
2.4

Cash and cash equivalents

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.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 3

 
DEFTBRENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2020 - 4).

Page 4

 
DEFTBRENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

4.


Investment property


Freehold investment property

£



Valuation


At 1 December 2020
13,000,000


Additions at cost
139,701


Disposals
(773,011)


Surplus on revaluation
633,310



At 30 November 2021
13,000,000

The 2021 valuations were made by the directors, on an open market value for existing use basis.





5.


Debtors

2021
2020
£
£


Trade debtors
52,200
52,200

Other debtors
84,538
175,534

136,738
227,734



6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
1,059,531
109,504

1,059,531
109,504


Page 5

 
DEFTBRENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Amounts owed to group undertakings
2,899,500
2,900,000

Accruals and deferred income
3,780
3,780

2,903,280
2,903,780



8.


Deferred taxation




2021
2020


£

£






At beginning of year
(1,340,614)
(1,362,577)


Charged to profit or loss
(1,091,387)
21,963



At end of year
(2,432,001)
(1,340,614)

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Fair value movements
(2,432,001)
(1,340,614)

(2,432,001)
(1,340,614)


9.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve represents cumulative effects of fair value adjustments on investment properties net of deferred tax and other adjustments.

Profit & loss account

The profit and loss account represents cumulative distributable profits and losses net of dividends and other adjustments.

Page 6

 
DEFTBRENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

10.


Related party transactions

During the year the following transactions occurred:


Loans due (to)/from at 30/11/2021
Loans due (to)/from at 30/11/2020
£
£

Entities with control, joint control or significant influence over the entity
(2,899,500)
(2,900,000)


11.


Controlling party

The immediate parent company is DCT Enterprises Limited, a company incorporated in England and Wales.

 
Page 7