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Registered Number: SC423395
Scotland

 

 

 

DS PROPERTIES (DUNDEE) LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Director David Sturrock
Registered Number SC423395
Registered Office 22 Dunmore Gardens
Dundee
DD1 1PP
1
  2023   2022
    £ £   £ £
Called up share capital not paid   (100)     (100)
Fixed assets   126,491      129,675 
Current assets 999      3,664   
Prepayments and accrued income 1,050      1,050   
Creditors: amount falling due within one year (12,569)     (15,267)  
Net current liabilities   (10,520)     (10,553)
Total assets less current liabilities   115,871      119,022 
Creditors: amount falling due after more than one year   (177,605)     (176,419)
Net liabilities   (61,734)     (57,397)
 

         
Capital and reserves   (61,734)     (57,397)
 
NOTES TO THE ACCOUNTS

General Information
DS PROPERTIES (DUNDEE) LTD is a private company, limited by shares, registered in Scotland, registration number SC423395, registration address 22 Dunmore Gardens, Dundee, DD1 1PP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 2% Reducing Balance
Investment properties
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Tangible fixed assets

Cost or valuation Land and Buildings   Computer Equipment   Total
  £   £   £
At 01 April 2022 141,763    1,016    142,779 
Additions    
Disposals    
At 31 March 2023 141,763    1,016    142,779 
Depreciation
At 01 April 2022 12,792    312    13,104 
Charge for year 3,008    176    3,184 
On disposals    
At 31 March 2023 15,800    488    16,288 
Net book values
Closing balance as at 31 March 2023 125,963    528    126,491 
Opening balance as at 01 April 2022 128,971    704    129,675 


3.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 02 June 2023 and were signed by:


--------------------------------
David Sturrock
Director
2