Registered number
02478826
D & F PROPERTIES LIMITED
Filleted Accounts
31 March 2023
D & F PROPERTIES LIMITED
Registered number: 02478826
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 128,000 128,000
Current assets
Debtors 4 14,553 13,703
Cash at bank and in hand 238,291 234,329
252,844 248,032
Creditors: amounts falling due within one year 5 (27,074) (51,505)
Net current assets 225,770 196,527
Net assets 353,770 324,527
Capital and reserves
Called up share capital 100 100
Revaluation reserve 6 25,585 25,585
Profit and loss account 328,085 298,842
Shareholders' funds 353,770 324,527
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Flannery
Director
Approved by the board on 23 May 2023
D & F PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention modified to include investment property at fair value and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the letting of property.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and properties Not depreciated
Investment property
Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in profit and loss.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2022 128,000
At 31 March 2023 128,000
Depreciation
At 31 March 2023 -
Net book value
At 31 March 2023 128,000
At 31 March 2022 128,000
Freehold land and buildings: 2023 2022
£ £
Historical cost 106,500 106,500
Cumulative depreciation based on historical cost - -
106,500 106,500
Land and building above related to investment properties which were valued on the basis of their fair value as at 31 March 2022 by internally qualified personel within the company. At the end of the balance sheet date, the value of the investment properties were £128,000.
4 Debtors 2023 2022
£ £
Trade debtors 7,240 6,390
Amounts owed by related company Note 7 7,313 7,313
14,553 13,703
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 23,382
Amounts owed to related company Note 7 12,088 12,088
Taxation and social security costs 6,859 6,586
Director account 5,906 5,488
Other creditors 2,221 3,961
27,074 51,505
6 Revaluation reserve 2023 2022
£ £
At 1 April 2022 25,585 25,585
At 31 March 2023 25,585 25,585
7 Related party transactions 2023 2022
£ £
Amount owed by related company
Triplehigh Limited
Mrs M Flannery who is a Director of the company has a 50% controlling interest in the ordinary share capital of the company. And also she has a 100% controlling interest in the ordinary share capital of Triplehigh Limited.
There were no transaction during the year
Amount due from the related party 7,313 7,313
7,313 7,313
Amount owed to related company
P.Flannery Plant Hire (Oval) Limited
Connected by way of common control through the ownership of Mr P Flannery and his associate Mrs M Flannery.
There were no transaction during the year
Amount due to the related party 12,088 12,088
12,088 12,088
8 Controlling party
Mr P Flannery and Mrs M Flannery have a controlling interest in the company by virtue of their 100% interest in the issued ordinary share capital.
9 Other information
D & F PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
27A Maxwell Road
Northwood
Middlesex
HA6 2XY
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