Registered number
09896407
DBSL Property Limited
Unaudited Filleted Accounts
31 December 2022
DBSL Property Limited
Registered number: 09896407
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Investment property 4 5,026,057 4,394,762
Current assets
Debtors 5 31,852 14,762
Cash at bank and in hand 33,971 14,106
65,823 28,868
Creditors: amounts falling due within one year 6 (468,058) (650,763)
Net current liabilities (402,235) (621,895)
Total assets less current liabilities 4,623,822 3,772,867
Creditors: amounts falling due after more than one year 7 (3,481,475) (2,688,396)
Provisions for liabilities (182,754) (182,754)
Net assets 959,593 901,717
Capital and reserves
Called up share capital 2 2
Fair value reserve 9 779,112 779,112
Profit and loss account 180,479 122,603
Shareholders' funds 959,593 901,717
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S R Lazenby
Director
Approved by the board on 30/09/2023.
DBSL Property Limited
Notes to the Accounts
for the year ended 31 December 2022
1 Statutory information
DBSL Property Limited is a private company, limited by shares, registered in England and Wales.
The company's registered number and registered office address are as below:
Registered number: 09896407
Registered office: Beech House
78 Cleasby Road
Menston
Ilkley
LS29 6HN
The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.
2 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 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 represents rents received and receivable, excluding VAT.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Accounting policies (continued)
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
3 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
4 Investment property
Total
£
Fair value
At 1 January 2022 4,394,762
Additions 631,295
At 31 December 2022 5,026,057
The historic cost of investment properties was £4,064,191 (2021: £3,432,894).
The investment property was valued on an open market basis on 31 December 2022 by the
director.
5 Debtors 2022 2021
£ £
Trade debtors 16,122 214
Prepayments and accrued income 2,130 2,348
Other debtors 13,600 12,200
31,852 14,762
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 10,747 208,452
Trade creditors 2,400 -
Director's current account 366,620 374,100
Accruals and deferred income 45,366 24,581
Taxation and social security costs 29,325 31,430
Other creditors 13,600 12,200
468,058 650,763
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 3,481,475 2,688,396
8 Loans 2022 2021
£ £
Creditors include:
Instalments falling due for payment after more than five years 3,481,724 2,358,520
Secured bank loans 3,457,120 2,852,170
Bank loans are secured over the properties to which they relate.
9 Fair value reserve 2022 2021
£ £
At 1 January 2022 779,112 263,962
Reserve transfer - 515,150
At 31 December 2022 779,112 779,112
10 Related party transactions
During the year £66,850 (2021: £116,200) was advanced from and £74,330 (2021: £118,400) was repaid to the director. An amount of £366,620 (2021: £374,100) remained due to the director at the year end.
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