Company Registration No. 11130022 (England and Wales)
DSL Midlands Properties Limited
Unaudited accounts
for the year ended 31 January 2023
DSL Midlands Properties Limited
Unaudited accounts
Contents
DSL Midlands Properties Limited
Company Information
for the year ended 31 January 2023
Company Number
11130022 (England and Wales)
Registered Office
1 Manchester Square
London
W1U 3AB
Accountants
Balmoral Consultancy Services Limited
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN
DSL Midlands Properties Limited
Statement of financial position
as at 31 January 2023
Investment property
214,565
503,137
Cash at bank and in hand
46,022
42,141
Creditors: amounts falling due within one year
(10,219)
(48,571)
Net current assets/(liabilities)
35,803
(6,430)
Total assets less current liabilities
250,368
496,707
Creditors: amounts falling due after more than one year
(301,706)
(506,706)
Net liabilities
(51,338)
(9,999)
Called up share capital
100
100
Profit and loss account
(51,438)
(10,099)
Shareholders' funds
(51,338)
(9,999)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 October 2023 and were signed on its behalf by
Mr O Zaidman
Director
Company Registration No. 11130022
DSL Midlands Properties Limited
Notes to the Accounts
for the year ended 31 January 2023
DSL Midlands Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 11130022. The registered office is 1 Manchester Square, London, W1U 3AB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation Of Financial Statements
The accounts have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of financial reporting standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied :
The accounts are presented in £ sterling.
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue for the foreseeable future. Thus, the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Investment property is carried at fair value determined annually by external values and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Cash and cash equivalents
Cash is represented by cash in hand deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly investments that mature in no more than three months from the date of acquisitions and that are readily convertible to known amounts of cash with insignificant risk of change in value.
DSL Midlands Properties Limited
Notes to the Accounts
for the year ended 31 January 2023
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current corporation 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 income.
Fair value at 1 February 2022
503,137
At 31 January 2023
214,565
The 2023 valuations were made by the director, on an open market value basis.
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
7,319
-
6
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
301,706
506,706
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
The company is controlled by Mr.Efraim Hershkovitz by virtue of his 100% shareholding.
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Average number of employees
During the year the average number of employees was 1 (2022: 1).