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REGISTERED NUMBER: 03332539 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

D R E PROPERTY SERVICES LIMITED

D R E PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03332539)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D R E PROPERTY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: D R England
S J England
Mrs S Paice





SECRETARY: Mrs S M England





REGISTERED OFFICE: High Cross Building
Lancaster Road
Hinckley
Leicestershire
LE10 0AW





REGISTERED NUMBER: 03332539 (England and Wales)





ACCOUNTANTS: PWH Accountancy Ltd
The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY

D R E PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03332539)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 175,000 175,000
Tangible assets 6 51,653 36,142
226,653 211,142

CURRENT ASSETS
Debtors 7 18,370 55,072
Cash at bank 14,724 15,256
33,094 70,328
CREDITORS
Amounts falling due within one year 8 515,671 517,753
NET CURRENT LIABILITIES (482,577 ) (447,425 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(255,924

)

(236,283

)

PROVISIONS FOR LIABILITIES 9 9,814 6,867
NET LIABILITIES (265,738 ) (243,150 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 10 (265,740 ) (243,152 )
SHAREHOLDERS' FUNDS (265,738 ) (243,150 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

D R E PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03332539)

BALANCE SHEET - continued
31 JANUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:




Mrs S Paice - Director



S J England - Director


D R E PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03332539)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

D R E Property Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover
Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade 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 The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Improvements - in accordance with the property
Fixtures, fittings & equipment - 15% on reducing balance

Financial instruments

Financial assets
Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities
The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.


D R E PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03332539)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Lease and hire purchase contracts
Payments under operating leases are charged to the profit and loss account in the year in which they are incurred. Tangible fixed assets acquired under finance leases and hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets over their estimated useful economic lives or, if shorter the lease term. The related obligation, net of future charges, are included in creditors falling due within and after more than one year. The interest element of repayments of finance leases and hire purchase contracts is charged to the profit and loss account over the duration of the lease and represents a constant proportion of the capital balance outstanding, so as to produce a constant periodic rate of charge on the net obligations outstanding in each period.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 175,000
NET BOOK VALUE
At 31 January 2023 175,000
At 31 January 2022 175,000

D R E PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03332539)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

6. TANGIBLE FIXED ASSETS
Fixtures,
Leasehold fittings
Improvements & equipment Totals
£    £    £   
COST
At 1 February 2022 349,578 140,424 490,002
Additions - 22,069 22,069
At 31 January 2023 349,578 162,493 512,071
DEPRECIATION
At 1 February 2022 339,881 113,979 453,860
Charge for year 998 5,560 6,558
At 31 January 2023 340,879 119,539 460,418
NET BOOK VALUE
At 31 January 2023 8,699 42,954 51,653
At 31 January 2022 9,697 26,445 36,142

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 18,370 55,072

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 142,942 150,904
Amounts due to group companies 352,180 352,180
Social security and other taxes 4,689 4,577
VAT 6,167 3,469
Other creditors 1,549 1,536
Accrued expenses 8,144 5,087
515,671 517,753

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 9,814 6,867

Deferred
tax
£   
Balance at 1 February 2022 6,867
Charge to Income Statement during year 2,947
Balance at 31 January 2023 9,814

D R E PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03332539)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

10. RESERVES
Retained
earnings
£   

At 1 February 2022 (243,152 )
Deficit for the year (22,588 )
At 31 January 2023 (265,740 )

11. RELATED PARTY DISCLOSURES

DRE Group Pension Scheme, of which all of the company's directors are members - Rent paid £Nil (2022 £8,250)

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D R England by reason of his controlling interest in the ultimate holding company, D R E Group Limited.

13. ULTIMATE HOLDING COMPANY

The company's ultimate holding company is D R E Group Limited which is incorporated in England. Advantage has been taken of the exemption from disclosure of group transactions on the grounds that details of the company as a subsidiary of D R E Group Limited are included in the consolidated accounts of that company.