Dale Street Properties Limited 08832986 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is the letting of properties Digita Accounts Production Advanced 6.30.9574.0 true true 08832986 2022-02-01 2023-01-31 08832986 2023-01-31 08832986 bus:OrdinaryShareClass1 2023-01-31 08832986 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 08832986 core:FurnitureFittingsToolsEquipment 2023-01-31 08832986 core:LandBuildings 2023-01-31 08832986 bus:SmallEntities 2022-02-01 2023-01-31 08832986 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 08832986 bus:FullAccounts 2022-02-01 2023-01-31 08832986 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 08832986 bus:Director1 2022-02-01 2023-01-31 08832986 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 08832986 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 08832986 core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 08832986 core:LandBuildings 2022-02-01 2023-01-31 08832986 core:OfficeEquipment 2022-02-01 2023-01-31 08832986 countries:EnglandWales 2022-02-01 2023-01-31 08832986 2022-01-31 08832986 core:FurnitureFittingsToolsEquipment 2022-01-31 08832986 core:LandBuildings 2022-01-31 08832986 2021-02-01 2022-01-31 08832986 2022-01-31 08832986 bus:OrdinaryShareClass1 2022-01-31 08832986 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 08832986 core:FurnitureFittingsToolsEquipment 2022-01-31 08832986 core:LandBuildings 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08832986

Dale Street Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2023

 

Dale Street Properties Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Dale Street Properties Limited

(Registration number: 08832986)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

645,191

645,717

Current assets

 

Cash at bank and in hand

 

13,967

11,374

Creditors: Amounts falling due within one year

4

(539,422)

(558,942)

Net current liabilities

 

(525,455)

(547,568)

Net assets

 

119,736

98,149

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

119,636

98,049

Shareholders' funds

 

119,736

98,149

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 October 2023 and signed on its behalf by:
 

.........................................
Mr R J D Neal
Director

 

Dale Street Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

 

Dale Street Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Asset class

Depreciation method and rate

Office equipment

20% on cost

Investment property

Certain of the company's properties are held for long-term investment. Investment properties are accounted for as follows:

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore 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 which might otherwise have been shown cannot be separately identified or quantified..

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Dale Street Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

3

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

645,000

2,631

647,631

At 31 January 2023

645,000

2,631

647,631

Depreciation

At 1 February 2022

-

1,914

1,914

Charge for the year

-

526

526

At 31 January 2023

-

2,440

2,440

Carrying amount

At 31 January 2023

645,000

191

645,191

At 31 January 2022

645,000

717

645,717

Included within the net book value of land and buildings above is £645,000 (2022 - £645,000) in respect of freehold land and buildings.
 

 

Dale Street Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

8,912

5,754

Accruals and deferred income

17,047

17,456

Other creditors

513,463

535,732

539,422

558,942

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

ordinary shares of £1 each

100

100

100

100