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Registration number: 13645950

DAP Property Services Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

DAP Property Services Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

DAP Property Services Ltd

Company Information

Director

Mr David Parsons

Company secretary

Britannia Accountancy & Tax Services Ltd

Registered office

A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

Accountants

Britannia Accountancy & Tax Services Ltd
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

 

DAP Property Services Ltd

Director's Report for the Year Ended 30 September 2023

The director presents his report and the financial statements for the year ended 30 September 2023.

Director of the company

The director who held office during the year was as follows:

Mr David Parsons

Principal activity

The principal activity of the company is property rental

Small companies provision statement

This report has 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.

Approved by the director on 24 October 2023 and signed on its behalf by:

.........................................
Mr David Parsons
Director

   
     
 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
DAP Property Services Ltd
for the Year Ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DAP Property Services Ltd for the year ended 30 September 2023 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of DAP Property Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of DAP Property Services Ltd and state those matters that we have agreed to state to the Board of Directors of DAP Property Services Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DAP Property Services Ltd and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by DAP Property Services Ltd

It is your duty to ensure that DAP Property Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of DAP Property Services Ltd. You consider that DAP Property Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of DAP Property Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Britannia Accountancy & Tax Services Ltd
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

24 October 2023

 

DAP Property Services Ltd

Profit and Loss Account for the Year Ended 30 September 2023

Note

2023
£

2022
£

Turnover

 

33,200

66,000

Cost of sales

 

(24,459)

(23,769)

Gross profit

 

8,741

42,231

Administrative expenses

 

(10,688)

(41,623)

Operating (loss)/profit

 

(1,947)

608

(Loss)/profit before tax

4

(1,947)

608

(Loss)/profit for the financial year

 

(1,947)

608

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

DAP Property Services Ltd

Statement of Comprehensive Income for the Year Ended 30 September 2023

2023
£

2022
£

(Loss)/profit for the year

(1,947)

608

Total comprehensive income for the year

(1,947)

608

 

DAP Property Services Ltd

(Registration number: 13645950)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

51,200

57,600

Tangible assets

6

248,115

225,000

 

299,315

282,600

Current assets

 

Cash at bank and in hand

 

8,835

11

Creditors: Amounts falling due within one year

7

(309,389)

(281,903)

Net current liabilities

 

(300,554)

(281,892)

Net (liabilities)/assets

 

(1,239)

708

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(1,339)

608

Shareholders' (deficit)/funds

 

(1,239)

708

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 24 October 2023
 

.........................................
Mr David Parsons
Director

   
     
 

DAP Property Services Ltd

Statement of Changes in Equity for the Year Ended 30 September 2023

Share capital
£

Retained earnings
£

Total
£

At 1 October 2022

100

608

708

Loss for the year

-

(1,947)

(1,947)

At 30 September 2023

100

(1,339)

(1,239)

Share capital
£

Retained earnings
£

Total
£

Profit for the year

-

608

608

New share capital subscribed

100

-

100

At 30 September 2022

100

608

708

 

DAP Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

These financial statements were authorised for issue by the director on 24 October 2023.

2

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.

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.

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.

 

DAP Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

18% on net book value

Vehicles

18% on net book value

Office equipment

18% on net book value

Furniture and fittings

18% on net book value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% on cost

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.

Borrowings

 

DAP Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Amortisation expense

6,400

6,400

 

DAP Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2022

64,000

64,000

At 30 September 2023

64,000

64,000

Amortisation

At 1 October 2022

6,400

6,400

Amortisation charge

6,400

6,400

At 30 September 2023

12,800

12,800

Carrying amount

At 30 September 2023

51,200

51,200

At 30 September 2022

57,600

57,600

6

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2022

225,000

-

225,000

Revaluations

23,000

-

23,000

Additions

-

115

115

At 30 September 2023

248,000

115

248,115

Depreciation

Carrying amount

At 30 September 2023

248,000

115

248,115

At 30 September 2022

225,000

-

225,000

Included within the net book value of land and buildings above is £248,000 (2022 - £225,000) in respect of freehold land and buildings.
 

 

DAP Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

303,009

278,713

Accruals and deferred income

 

6,380

3,190

 

309,389

281,903

8

Share capital

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

303,009

278,713