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REGISTERED NUMBER: 05374756 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

D & D ESTATES LTD

D & D ESTATES LTD (REGISTERED NUMBER: 05374756)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

D & D ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: D P Comerford
A Collier





REGISTERED OFFICE: 76 Woodland Way
London
N21 3QA





REGISTERED NUMBER: 05374756 (England and Wales)





ACCOUNTANTS: Chris Skarparis & Co Ltd
Chartered Accountants
2nd Floor
10(b) Aldermans Hill
Palmers Green
London
N13 4PJ

D & D ESTATES LTD (REGISTERED NUMBER: 05374756)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 60 74
Investment properties 5 3,144,000 2,515,000
3,144,060 2,515,074

CURRENT ASSETS
Debtors 6 - 1,470
Cash at bank 1,571 2,997
1,571 4,467
CREDITORS
Amounts falling due within one year 7 4,597 2,319
NET CURRENT (LIABILITIES)/ASSETS (3,026 ) 2,148
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,141,034

2,517,222

CREDITORS
Amounts falling due after more than one
year

8

(1,925,523

)

(1,924,562

)

PROVISIONS FOR LIABILITIES 12 (83,627 ) (30,502 )
NET ASSETS 1,131,884 562,158

CAPITAL AND RESERVES
Called up share capital 13 2 2
Retained earnings 14 1,131,882 562,156
SHAREHOLDERS' FUNDS 1,131,884 562,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 & D ESTATES LTD (REGISTERED NUMBER: 05374756)

BALANCE SHEET - continued
28 FEBRUARY 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 2 November 2023 and were signed on its behalf by:




D P Comerford - Director



A Collier - Director


D & D ESTATES LTD (REGISTERED NUMBER: 05374756)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

D & D Estates Limited is a private company,limited by shares, registered in England and Wales.The company 's registered number is 05374756 and registered office address is 76 Woodland Way, London, N21 3QA.

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.

Significant judgements and estimates
Critical accounting estimates and assumptions

The preparation of financial statements in accordance with generally accepted accounting principals requires management to make estimates and assumptions in certain circumstances that effect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the accounts and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates. The estimates and assumptions that have a significant risk of causing a maternal adjustment to the carrying amounts of assets and liabilities within the next financial year are outlined below.

Investment and operating property valuations

Properties are valued internally by the company directors. Valuations are made as at the reporting date and conform to International Valuation Standards. Valuations are made using various assumptions and estimations which include, but are not limited to market yields, transaction prices of similar properties, tenure and tenancy details. These assumptions are approved by the company directors.

Trade receivables

The company reviews trade receivables and makes judgements on the recoverability of these receivables with reference to the age of outstanding amounts, credit status of the counterparty and the status of any outstanding dispute.

Turnover
Turnover represents rental income, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on reducing balance

Investment property
Investment properties are carried at fair value as determined above. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

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

Capital gains tax on uncrystallised gains on property investments is provided in the financial statements using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Finance cost amortisation
Finance costs incurred in connection with the arrangement of bank loans are capitalised as a reduction to the loan and then amortised , on a straight line basis, over the duration of the loans.

D & D ESTATES LTD (REGISTERED NUMBER: 05374756)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

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.


Creditors
Short term creditors are measured at the transaction price.

Long term directors loan account is interest free and measured at the transaction price.

Going concern
As with most businesses the Company has been affected by the ongoing impact of Covid-19, the exit from the European Union and the high level of inflation in the UK economy These have had an impact on the operations and tenants. The Company is taking all the steps it can to protect the future of the business. Although the total impact is still uncertain the director believes that it is appropriate to prepare the accounts on a going concern basis

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2022
and 28 February 2023 443
DEPRECIATION
At 1 March 2022 369
Charge for year 14
At 28 February 2023 383
NET BOOK VALUE
At 28 February 2023 60
At 28 February 2022 74

5. INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 March 2022 2,515,000
Revaluations 629,000
At 28 February 2023 3,144,000
NET BOOK VALUE
At 28 February 2023 3,144,000
At 28 February 2022 2,515,000

D & D ESTATES LTD (REGISTERED NUMBER: 05374756)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. INVESTMENT PROPERTIES - continued

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2010 21,908
Valuation in 2015 42,000
Valuation in 2016 174,000
Valuation in 2017 (75,000 )
Valuation in 2018 69,000
Valuation in 2019 20,000
Valuation in 2020 85,000
Valuation in 2021 20,000
Valuation in 2022 232,444
Valuation in 2023 629,000
Cost 1,925,648
3,144,000

If investment properties had not been revalued they would have been included at the following historical cost:

28.2.23 28.2.22
£    £   
Cost 1,925,648 1,925,648

Investment properties were valued on an open market basis on 28 February 2023 by the company director, Mr D. P. Comerford .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Tenants' deposits held - 1,470

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors - (2 )
Social security and other taxes - (758 )
Directors' current accounts 1,837 319
Accrued expenses 2,760 2,760
4,597 2,319

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans (see note 9) 1,590,989 1,590,479
Other loans (see note 9) (17,465 ) (19,386 )
Tenants' deposits - 1,470
Directors' loan accounts 351,999 351,999
1,925,523 1,924,562

D & D ESTATES LTD (REGISTERED NUMBER: 05374756)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
28.2.23 28.2.22
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,590,989 1,590,479

9. LOANS

An analysis of the maturity of loans is given below:

28.2.23 28.2.22
£    £   
Amounts falling due between one and two years:
Finance costs (17,465 ) (19,386 )

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,590,989 1,590,479

10. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 1,590,989 1,590,479

11. DIRECTOR'S LOAN

Included in Creditors - amounts falling due after more than one year is a loan of £351,999 (2022-£351,999) due to the Director. This loan is recognised at transaction price. The director's loan is not due until after more than 1 year and is interest free.

12. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax
Accelerated capital allowances 11 14
Deferred tax on CGT provision 83,616 30,488
83,627 30,502

Deferred
tax
£   
Balance at 1 March 2022 30,502
Charge to Income Statement during year 53,125
Balance at 28 February 2023 83,627

D & D ESTATES LTD (REGISTERED NUMBER: 05374756)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
2 Ordinary £1 2 2

14. RESERVES
Retained
earnings
£   

At 1 March 2022 562,156
Profit for the year 569,726
At 28 February 2023 1,131,882

Included in Retained earnings as at 28 February 2023 is an amount of £1,218,352 ( 2022- £589,352) of revaluation reserves which are non distributable.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
D & D ESTATES LTD

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 D & D Estates Ltd for the year ended 28 February 2023 which comprise the Income Statement, Other Comprehensive Income, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of D & D Estates Ltd, 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 D & D Estates Ltd and state those matters that we have agreed to state to the Board of Directors of D & D Estates Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D & D Estates Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that D & D Estates Ltd 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 D & D Estates Ltd. You consider that D & D Estates Ltd 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 D & D Estates Ltd. 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.






Chris Skarparis & Co Ltd
Chartered Accountants
2nd Floor
10(b) Aldermans Hill
Palmers Green
London
N13 4PJ


2 November 2023