Silverfin false 31/01/2023 01/02/2022 31/01/2023 Mr K Balasubramaniam Mrs N Y Balasubramaniam 16 October 2023 The principal activity of the Company during the financial year was the letting of residential properties. 10002900 2023-01-31 10002900 2022-01-31 10002900 core:CurrentFinancialInstruments 2023-01-31 10002900 core:CurrentFinancialInstruments 2022-01-31 10002900 core:Non-currentFinancialInstruments 2023-01-31 10002900 core:Non-currentFinancialInstruments 2022-01-31 10002900 core:ShareCapital 2023-01-31 10002900 core:ShareCapital 2022-01-31 10002900 core:SharePremium 2023-01-31 10002900 core:SharePremium 2022-01-31 10002900 core:RetainedEarningsAccumulatedLosses 2023-01-31 10002900 core:RetainedEarningsAccumulatedLosses 2022-01-31 10002900 core:Goodwill 2022-01-31 10002900 core:Goodwill 2023-01-31 10002900 core:InvestmentPropertyIncludedWithinPPE 2022-01-31 10002900 core:FurnitureFittings 2022-01-31 10002900 core:InvestmentPropertyIncludedWithinPPE 2023-01-31 10002900 core:FurnitureFittings 2023-01-31 10002900 bus:OrdinaryShareClass1 2023-01-31 10002900 2022-02-01 2023-01-31 10002900 bus:FullAccounts 2022-02-01 2023-01-31 10002900 bus:SmallEntities 2022-02-01 2023-01-31 10002900 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 10002900 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 10002900 bus:Director1 2022-02-01 2023-01-31 10002900 bus:Director2 2022-02-01 2023-01-31 10002900 core:Goodwill core:TopRangeValue 2022-02-01 2023-01-31 10002900 core:FurnitureFittings core:TopRangeValue 2022-02-01 2023-01-31 10002900 2021-02-01 2022-01-31 10002900 core:InvestmentPropertyIncludedWithinPPE 2022-02-01 2023-01-31 10002900 core:FurnitureFittings 2022-02-01 2023-01-31 10002900 core:Non-currentFinancialInstruments 2022-02-01 2023-01-31 10002900 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 10002900 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10002900 (England and Wales)

DILIGENT PROPERTY SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2023
Pages for filing with the registrar

DILIGENT PROPERTY SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

DILIGENT PROPERTY SERVICES LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2023
DILIGENT PROPERTY SERVICES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2023
DIRECTORS Mr K Balasubramaniam
Mrs N Y Balasubramaniam
REGISTERED OFFICE Quoits Field
Duddlestone
Taunton
TA3 7BD
United Kingdom
COMPANY NUMBER 10002900 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
DILIGENT PROPERTY SERVICES LIMITED

BALANCE SHEET

As at 31 January 2023
DILIGENT PROPERTY SERVICES LIMITED

BALANCE SHEET (continued)

As at 31 January 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 4,586,675 4,069,535
4,586,675 4,069,535
Current assets
Debtors 5 14,046 2,183
Cash at bank and in hand 15,016 51,418
29,062 53,601
Creditors: amounts falling due within one year 6 ( 510,310) ( 521,515)
Net current liabilities (481,248) (467,914)
Total assets less current liabilities 4,105,427 3,601,621
Creditors: amounts falling due after more than one year 7 ( 1,970,341) ( 1,480,489)
Provision for liabilities ( 180,900) ( 180,000)
Net assets 1,954,186 1,941,132
Capital and reserves
Called-up share capital 8 20 20
Share premium account 1,234,992 1,234,992
Profit and loss account 719,174 706,120
Total shareholders' funds 1,954,186 1,941,132

For the financial year ending 31 January 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Diligent Property Services Limited (registered number: 10002900) were approved and authorised for issue by the Board of Directors on 16 October 2023. They were signed on its behalf by:

Mr K Balasubramaniam
Director
DILIGENT PROPERTY SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
DILIGENT PROPERTY SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Diligent Property Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Quoits Field, Duddlestone, Taunton, TA3 7BD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Turnover

Turnover represents rental income receivable which is recognised in the rental period.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Investment property not depreciated
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 February 2022 5 5
At 31 January 2023 5 5
Accumulated amortisation
At 01 February 2022 5 5
At 31 January 2023 5 5
Net book value
At 31 January 2023 0 0
At 31 January 2022 0 0

4. Tangible assets

Investment property Fixtures and fittings Total
£ £ £
Cost
At 01 February 2022 4,067,757 2,902 4,070,659
Additions 506,170 11,534 517,704
At 31 January 2023 4,573,927 14,436 4,588,363
Accumulated depreciation
At 01 February 2022 0 1,124 1,124
Charge for the financial year 0 564 564
At 31 January 2023 0 1,688 1,688
Net book value
At 31 January 2023 4,573,927 12,748 4,586,675
At 31 January 2022 4,067,757 1,778 4,069,535

5. Debtors

2023 2022
£ £
Prepayments 1,256 1,283
Other debtors 12,790 900
14,046 2,183

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 14,345 185,333
Other creditors 495,965 336,182
510,310 521,515

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 1,970,341 1,480,489

Included within bank loans at the year end is £1,984,686 (2022: £1,665,822) on which the investment properties have been pledged as security.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
200 Ordinary shares of £ 0.10 each 20 20

Reserves

Included in the profit and loss account is a profit of £544,618 (2022: 544,618) that relates to non-distributable reserves.

9. Related party transactions

Other related party transactions

2023 2022
£ £
Diligent Imaging & Intervention Limited 421,219 319,659
Riverside Somerset Limited (900) (900)

During the year a loan existed between Diligent Property Services Limited and Diligent Imaging & Intervention Limited, of which both Mr and Mrs Balasubramaniam are shareholders. The loan is interest free and repayable on demand. The balance due to Diligent Imaging & Intervention Limited as at 31 January 2023 is £421,170 (2022: £319,659).

During the year a loan existed between Diligent Property Services Limited and Riverside Somerset Limited, of which Mrs Balasubramaniam is a shareholder. The loan is interest free and repayable on demand. The balance due to Diligent Property Services Limited as at 31 January 2023 is £900 (2022: £900).