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REGISTERED NUMBER: 10182691 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Daz Property Developments Limited

Daz Property Developments Limited (Registered number: 10182691)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Daz Property Developments Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: D Myers
Mrs N Sinanan





REGISTERED OFFICE: 31 Highbury Grove
London
N5 1HJ





REGISTERED NUMBER: 10182691 (England and Wales)





ACCOUNTANTS: Kumar Strategic Consultants Ltd
Chartered Accountants
255 - 261 Horn Lane
London
W3 9EH

Daz Property Developments Limited (Registered number: 10182691)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,162 4,216
Investment property 5 545,000 545,000
548,162 549,216

CURRENT ASSETS
Debtors 6 12,308 12,308
Cash at bank 12,197 8,697
24,505 21,005
CREDITORS
Amounts falling due within one year 7 205,131 209,860
NET CURRENT LIABILITIES (180,626 ) (188,855 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

367,536

360,361

CREDITORS
Amounts falling due after more than one
year

8

443,981

442,542
NET LIABILITIES (76,445 ) (82,181 )

CAPITAL AND RESERVES
Called up share capital 201 201
Revaluation reserve 11 (25,101 ) (25,101 )
Retained earnings (51,545 ) (57,281 )
(76,445 ) (82,181 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Daz Property Developments Limited (Registered number: 10182691)

Balance Sheet - continued
31 May 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 19 September 2023 and were signed on its behalf by:




D Myers - Director



Mrs N Sinanan - Director


Daz Property Developments Limited (Registered number: 10182691)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Daz Property Developments 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Rental income is recognised on an accrual basis. Rents receivable from tenants represents rents and service charges receivable in the period.

Where a rent-free period is included in a lease, the rental income foregone is allocated evenly over the period from the date of lease commencement to the earliest termination date.

Rental income from fixed and minimum guaranteed rent reviews is recognised on a straight-line basis over the shorter of the entire lease term or the period to the first break option. Where such rental income is recognised ahead of the related cash flow, an adjustment is made to ensure the carrying value of the related property including the accrued rent does not exceed the external valuation. Initial direct costs incurred in negotiating and arranging a new lease are amortised on a straight-line basis over the period from the date of lease commencement to the earliest termination date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

Investment property
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.

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.


Daz Property Developments Limited (Registered number: 10182691)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 17,196 427 17,623
DEPRECIATION
At 1 June 2022 11,301 2,106 13,407
Charge for year 1,021 33 1,054
At 31 May 2023 12,322 2,139 14,461
NET BOOK VALUE
At 31 May 2023 4,874 (1,712 ) 3,162
At 31 May 2022 5,895 (1,679 ) 4,216

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 545,000
NET BOOK VALUE
At 31 May 2023 545,000
At 31 May 2022 545,000

The investment property was valued by the Director at its Fair Value.

Daz Property Developments Limited (Registered number: 10182691)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 6,420 6,420
Deferred tax asset 5,888 5,888
12,308 12,308

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 40,701 39,876
Directors' current accounts 162,617 168,323
Accrued expenses 1,813 1,661
205,131 209,860

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) 443,981 442,542

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 443,981 442,542

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 443,981 442,542

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 443,981 442,542

The aggregate amount of creditors for which security has been given amounted to £443,981 (2022: £442,542).Bank Loans are secured by a fixed and floating charge over the assets of the company.

Daz Property Developments Limited (Registered number: 10182691)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

11. RESERVES
Revaluation
reserve
£   
At 1 June 2022
and 31 May 2023 (25,101 )