REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
DISTRICT & SUBURBAN HOLDINGS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
DISTRICT & SUBURBAN HOLDINGS LIMITED |
DISTRICT & SUBURBAN HOLDINGS LIMITED (REGISTERED NUMBER: 02080978) |
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 |
Chartered Certified Accountants' Report | 7 |
DISTRICT & SUBURBAN HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Market House |
21 Lenten Street |
Alton |
GU34 1HG |
BANKERS: |
102 Brompton Road |
Knightsbridge |
London |
SW3 1JJ |
DISTRICT & SUBURBAN HOLDINGS LIMITED (REGISTERED NUMBER: 02080978) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
DISTRICT & SUBURBAN HOLDINGS LIMITED (REGISTERED NUMBER: 02080978) |
BALANCE SHEET - continued |
31 MARCH 2023 |
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 |
DISTRICT & SUBURBAN HOLDINGS LIMITED (REGISTERED NUMBER: 02080978) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
District & Suburban Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
DISTRICT & SUBURBAN HOLDINGS LIMITED (REGISTERED NUMBER: 02080978) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
4. | INVESTMENT PROPERTY - continued |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 1998 | 217,646 |
Valuation in 1999 | 75,000 |
Valuation in 2005 | 225,000 |
Valuation in 2007 | (150,000 | ) |
Valuation in 2009 | (100,000 | ) |
Valuation in 2012 | 50,000 |
Valuation in 2013 | 175,000 |
Valuation in 2014 | 350,000 |
Valuation in 2015 | 100,000 |
Valuation in 2016 | 250,000 |
Cost | 557,354 |
1,750,000 |
The director is of the opinion that the open market values of investment properties are similar to the valuations reflected above, although no independent valuations have been carried out. |
The long leasehold property is held on a 999 year lease from 29 September 1985. |
On a historical cost basis, long leasehold investment property would have been included in the sum of £302,875 and freehold investment property would have been included in the sum of £254,479. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Tax |
Social security and other taxes |
Other creditors |
Directors' loan account | 71,468 | 55,200 |
Accruals and deferred income |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
DISTRICT & SUBURBAN HOLDINGS LIMITED (REGISTERED NUMBER: 02080978) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
8. | RELATED PARTY DISCLOSURES |
At the year end, there is an amount of £1,531,656 (2022: £1,531,656) owed by District & Suburban Holding Limited to Westfield Hotel Limited, a company with common shareholders. |
In March 2023 HMRC provided clearance for a share for share exchange to enable Westfield Hotel Limited to become a wholly-owned subsidiary of District & Suburban Holding Limited. The shares were transferred in June 2023 and an inter-company dividend paid in November 2023 to eliminate the above debt. |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
DISTRICT & SUBURBAN HOLDINGS LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of District & Suburban Holdings Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the Board of Directors of District & Suburban Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of District & Suburban Holdings Limited and state those matters that we have agreed to state to the Board of Directors of District & Suburban Holdings Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that District & Suburban Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of District & Suburban Holdings Limited. You consider that District & Suburban Holdings Limited 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 financial statements of District & Suburban Holdings Limited. 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 financial statements. |
Chartered Certified Accountants |
Market House |
21 Lenten Street |
Alton |
GU34 1HG |