Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true32022-04-01falseNo description of principal activity3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10055359 2022-04-01 2023-03-31 10055359 2021-04-01 2022-03-31 10055359 2023-03-31 10055359 2022-03-31 10055359 c:Director2 2022-04-01 2023-03-31 10055359 d:FreeholdInvestmentProperty 2023-03-31 10055359 d:FreeholdInvestmentProperty 2022-03-31 10055359 d:CurrentFinancialInstruments 2023-03-31 10055359 d:CurrentFinancialInstruments 2022-03-31 10055359 d:Non-currentFinancialInstruments 2023-03-31 10055359 d:Non-currentFinancialInstruments 2022-03-31 10055359 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10055359 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10055359 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10055359 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 10055359 d:ShareCapital 2023-03-31 10055359 d:ShareCapital 2022-03-31 10055359 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 10055359 d:RetainedEarningsAccumulatedLosses 2023-03-31 10055359 d:RetainedEarningsAccumulatedLosses 2022-03-31 10055359 d:OtherDeferredTax 2023-03-31 10055359 d:OtherDeferredTax 2022-03-31 10055359 c:OrdinaryShareClass1 2022-04-01 2023-03-31 10055359 c:OrdinaryShareClass1 2023-03-31 10055359 c:OrdinaryShareClass1 2022-03-31 10055359 c:FRS102 2022-04-01 2023-03-31 10055359 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10055359 c:FullAccounts 2022-04-01 2023-03-31 10055359 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10055359 2 2022-04-01 2023-03-31 10055359 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10055359









DBB PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
DBB PROPERTIES LIMITED
REGISTERED NUMBER: 10055359

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
                                                                 Note
£
£

Fixed assets
  

Investments
 4 
45
45

Investment property
 5 
750,000
750,000

  
750,045
750,045

Current assets
  

Debtors: amounts falling due within one year
 6 
25,228
57,328

Cash at bank and in hand
  
2
717

  
25,230
58,045

Creditors: amounts falling due within one year
 7 
(213,395)
(238,063)

Net current liabilities
  
 
 
(188,165)
 
 
(180,018)

Total assets less current liabilities
  
561,880
570,027

Creditors: amounts falling due after more than one year
 8 
(334,015)
(364,454)

Provisions for liabilities
  

Deferred tax
 9 
(31,313)
(31,313)

Net assets
  
196,552
174,260


Capital and reserves
  

Called up share capital 
 10 
750
750

Profit and loss account
 11 
195,802
173,510

  
196,552
174,260


Page 1

 
DBB PROPERTIES LIMITED
REGISTERED NUMBER: 10055359
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 November 2023.




D T Harper-Jones
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
DBB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

DBB Properties Limited is a private company limited by shares and is registered and incorporated in
England and Wales. The registered office is 6 The Potteries, Wickham Road, Fareham, Hampshire, PO16
7ET.
The principal activity of the company continued to be that of the letting and operating of real estate.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements 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:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of income and retained earnings at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

Page 3

 
DBB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings 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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers 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 income and retained earnings.

Page 4

 
DBB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period.

 
2.10

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

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.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Page 5

 
DBB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Fixed asset investments





Investments in associates

£



Cost or valuation


At 1 April 2022
45



At 31 March 2023
45





5.


Investment property


Investment property

£



Valuation


At 1 April 2022
750,000



At 31 March 2023
750,000

The directors have considered the fair value of the property held by the company. Based on current market conditions the property was not revalued in the year.






Page 6

 
DBB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Trade debtors
8,160
10,200

Other debtors
14,455
44,455

Prepayments and accrued income
2,613
2,673

25,228
57,328



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
33,968
35,447

Trade creditors
2,579
27

Corporation tax
5,228
5,520

Other taxation and social security
3,050
2,499

Other creditors
165,820
191,820

Accruals and deferred income
2,750
2,750

213,395
238,063


Page 7

 
DBB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
334,015
364,454

334,015
364,454


The following liabilities were secured:

2023
2022
£
£



Bank loans
367,983
389,275

367,983
389,275

Details of security provided:

The above bank loans are secured by means of a fixed charge against the investment property held.

Page 8

 
DBB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Deferred taxation




2023


£






At beginning of year
31,313



At end of year
31,313

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Deferred tax on revaluation of investment property
31,313
31,313


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



750 (2022 - 750) Ordinary shares of £1.00 each
750
750



11.


Reserves

Profit and loss account

The retained earnings consist of distributable and non-distributable reserves. The distributable reserve represents cumulative profits and losses net of dividends and other adjustments. The non-distributable reserve of £93,938 (2022 - £93,938) is used to record increases in the fair value of investment properties net of deferred tax and decreases to the extent that such decrease relates to an increase on the same asset.


12.


Related party transactions

Included within other creditors are amounts owed to directors totalling £6,244 (2022 - £6,244).
Included within the balance sheet at the year end are amounts owed to a company under common control of £159,576 (2022 - £175,577).


13.


Controlling party

The company does not deem there to be one controlling party.

 
Page 9