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REGISTERED NUMBER: 08239407 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

DEL MASTRO ESTATES LIMITED

DEL MASTRO ESTATES LIMITED (REGISTERED NUMBER: 08239407)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 SEPTEMBER 2022




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


DEL MASTRO ESTATES LIMITED (REGISTERED NUMBER: 08239407)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 393 524
Investments 5 - 1
Investment property 6 245,000 245,000
245,393 245,525

CURRENT ASSETS
Debtors 7 61,302 2,676
Cash at bank and in hand 8,368 4,486
69,670 7,162
CREDITORS
Amounts falling due within one year 8 311,558 184,578
NET CURRENT LIABILITIES (241,888 ) (177,416 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,505

68,109

CREDITORS
Amounts falling due after more than one
year

9

-

(65,177

)

PROVISIONS FOR LIABILITIES 11 (462 ) (462 )
NET ASSETS 3,043 2,470

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 12 2,308 2,308
Retained earnings 635 62
SHAREHOLDERS' FUNDS 3,043 2,470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

DEL MASTRO ESTATES LIMITED (REGISTERED NUMBER: 08239407)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2022


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 director and authorised for issue on 29 September 2023 and were signed by:





Mr C Del Mastro - Director


DEL MASTRO ESTATES LIMITED (REGISTERED NUMBER: 08239407)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 SEPTEMBER 2022

1. STATUTORY INFORMATION

Del Mastro Estates 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: 08239407

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Revenue
Revenue represents rents receivable. Revenue is recognised when risks and rewards are transferred to the customers.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 25% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.


DEL MASTRO ESTATES LIMITED (REGISTERED NUMBER: 08239407)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2022

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 1 October 2021
and 30 September 2022 524
DEPRECIATION
Charge for year 131
At 30 September 2022 131
NET BOOK VALUE
At 30 September 2022 393
At 30 September 2021 524

DEL MASTRO ESTATES LIMITED (REGISTERED NUMBER: 08239407)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2022

5. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 October 2021 1
Disposals (1 )
At 30 September 2022 -
NET BOOK VALUE
At 30 September 2022 -
At 30 September 2021 1

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2021
and 30 September 2022 245,000
NET BOOK VALUE
At 30 September 2022 245,000
At 30 September 2021 245,000

Investment property was valued on an open market basis on 30 September 2022 by the director of the company.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 61,302 2,676

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 10,127
Trade creditors - 1,260
Amounts owed to group undertakings 71,665 -
Taxation and social security 165 2,521
Other creditors 239,728 170,670
311,558 184,578

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 65,177

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 19,141

DEL MASTRO ESTATES LIMITED (REGISTERED NUMBER: 08239407)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2022

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loan - 75,304

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

11. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax
Accelerated capital allowances 462 -
Other timing differences - 462
462 462

Deferred
tax
£   
Balance at 1 October 2021 462
Balance at 30 September 2022 462

12. RESERVES
Fair
value
reserve
£   
At 1 October 2021
and 30 September 2022 2,308

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other creditors due within a year is an amount of £230,635 (2021: £130,635) due to connected companies with common control.The loans remain interest free and repayable on demand.

Included in other creditors due within a year is an amount of £6,994 (2021: £Nil) due to the director of the company. The loan remains interest free and repayable on demand.