Company No:
Contents
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 |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
|
|
|
4,586,675 | 4,069,535 | |||
Current assets | ||||
Debtors | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
29,062 | 53,601 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
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 | (
|
(
|
|
Provision for liabilities | (
|
(
|
||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital | 8 |
|
|
|
Share premium account |
|
|
||
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Diligent Property Services Limited (registered number:
Mr K Balasubramaniam
Director |
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.
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 £.
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.
Goodwill |
|
Investment property | not depreciated |
Fixtures and fittings |
|
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.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 February 2022 |
|
|
|
At 31 January 2023 |
|
|
|
Accumulated amortisation | |||
At 01 February 2022 |
|
|
|
At 31 January 2023 |
|
|
|
Net book value | |||
At 31 January 2023 |
|
|
|
At 31 January 2022 |
|
|
Investment property | Fixtures and fittings | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 February 2022 |
|
|
|
||
Additions |
|
|
|
||
At 31 January 2023 |
|
|
|
||
Accumulated depreciation | |||||
At 01 February 2022 |
|
|
|
||
Charge for the financial year |
|
|
|
||
At 31 January 2023 |
|
|
|
||
Net book value | |||||
At 31 January 2023 |
|
|
|
||
At 31 January 2022 |
|
|
|
2023 | 2022 | ||
£ | £ | ||
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
2023 | 2022 | ||
£ | £ | ||
Bank loans |
|
|
|
Other creditors |
|
|
|
|
|
2023 | 2022 | ||
£ | £ | ||
Bank loans |
|
|
2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
Included in the profit and loss account is a profit of £544,618 (2022: 544,618) that relates to non-distributable reserves.
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).