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REGISTERED NUMBER: 13277381 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Deekroo Ventures Ltd

Deekroo Ventures Ltd (Registered number: 13277381)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Deekroo Ventures Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: H Mistry





SECRETARY: N H Mistry





REGISTERED OFFICE: 20-22 Wenlock Road
England
N1 7GU





REGISTERED NUMBER: 13277381 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
21 Sherburn Terrace
Consett
Co. Durham
DH8 6ND

Deekroo Ventures Ltd (Registered number: 13277381)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 3 232,910 214,515

CURRENT ASSETS
Debtors 4 884 1,206
Cash at bank 13,519 4,907
14,403 6,113
CREDITORS
Amounts falling due within one year 5 (94,531 ) (155,330 )
NET CURRENT LIABILITIES (80,128 ) (149,217 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,782

65,298

CREDITORS
Amounts falling due after more than one
year

6

(159,530

)

(75,530

)
NET LIABILITIES (6,748 ) (10,232 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (6,848 ) (10,332 )
(6,748 ) (10,232 )

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

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

The director acknowledges his 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.

Deekroo Ventures Ltd (Registered number: 13277381)

Balance Sheet - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2023 and were signed by:





H Mistry - Director


Deekroo Ventures Ltd (Registered number: 13277381)

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

1. 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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable from the letting of its investment properties. Turnover is recognised by reference to the rental periods of the payments received. Any rental payments received upfront which span the balance sheet date are deferred based on the rental periods to which the payments relate.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

GOING CONCERN
These financial statements have been prepared on a going concern basis. During this first accounting period the company has invested in 2 properties and at the balance sheet date one of them was in the process of being refurbished prior to letting out. The company's balance sheet shows net liabilities but any operational and day to day cash flow needs will be supported by the company's director. In the long term the director believes that once both properties are generating income the company will return to a solvent position.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

Deekroo Ventures Ltd (Registered number: 13277381)

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

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 214,515
Additions 18,395
At 31 March 2023 232,910
NET BOOK VALUE
At 31 March 2023 232,910
At 31 March 2022 214,515

The director has considered the change in market value between purchase dates and the 31 March 2023 and does not believe any fair value re-valuation adjustments are required at the balance sheet date.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 884 1,206

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 94,531 155,330

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 159,530 75,530

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 159,530 75,530

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 159,530 75,530

The interest-only bank loan is secured by way of a fixed charge upon the investment property to which it relates. The director is also a named guarantor of the loan.

Deekroo Ventures Ltd (Registered number: 13277381)

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

8. RELATED PARTY DISCLOSURES

Included within other creditors is a loan from Disha Energy Consultants Limited, a company registered in England & Wales and under common control. At 31 March 2022 the balance of the loan was £110,000. Interest on the loan is charged at a rate of 2.5% and accrued interest recognised in the profit and loss account during the period amounted to £2,063.