Registered number
05519174
DC PROPERTIES (LONDON) LTD
Filleted Accounts
31 January 2023
DC PROPERTIES (LONDON) LTD
Registered number: 05519174
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 450,000 450,000
Current assets
Debtors 4 436 528
Cash at bank and in hand 14,031 7,782
14,467 8,310
Creditors: amounts falling due within one year 5 (7,627) (4,332)
Net current assets 6,840 3,978
Total assets less current liabilities 456,840 453,978
Provisions for liabilities (70,523) (53,597)
Net assets 386,317 400,381
Capital and reserves
Called up share capital 100 100
Share premium 79,899 79,899
Revaluation reserve 6 259,628 276,554
Profit and loss account 46,690 43,828
Shareholder's funds 386,317 400,381
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Mrs D Chiappa
Director
Approved by the board on 21 October 2023
DC PROPERTIES (LONDON) LTD
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared 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 represents rents receivable.
Investments
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. Investment properties whose fair value cannot be measured reliably without undue cost or effort on an on-going basis are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment properties
£
Valuation
At 1 February 2022 450,000
At 31 January 2023 450,000
The directors have made key assumptions in the determination of the fair value of an investment
property in respect of the state of the property market in the location where the property is situated
and in respect of the range of reasonable fair value estimates of the asset.
4 Debtors 2023 2022
£ £
Other debtors 436 528
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 2,951 -
Other creditors 4,676 4,332
7,627 4,332
6 Revaluation reserve 2023 2022
£ £
At 1 February 2022 276,554 265,214
Gain on revaluation of investment property - 14,000
Deferred taxation arising on the revaluation of investment property (16,926) (2,660)
At 31 January 2023 259,628 276,554
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs D Chiappa
[Loan 1] (1,439) - (312) (1,751)
(1,439) - (312) (1,751)
8 Controlling party
The ultimate parent company is Chiappa Investments Limited, a company registered in England and Wales.
9 Other information
DC PROPERTIES (LONDON) LTD is a private company limited by shares and incorporated in England. Its registered office is:
14 Oaklands
Winchmore Hill
London
N21 3DD
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