REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
FOR |
DELMOOR PROPERTY INVESTMENT COMPANY |
LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
FOR |
DELMOOR PROPERTY INVESTMENT COMPANY |
LIMITED |
DELMOOR PROPERTY INVESTMENT COMPANY |
LIMITED (REGISTERED NUMBER: 05951747) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DELMOOR PROPERTY INVESTMENT COMPANY |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2nd Floor |
Landchard House |
Victoria Street |
West Bromwich |
West Midlands |
B70 8ER |
BANKERS: |
13-14 High Street |
Cradley Heath |
Warley |
West Midlands |
B64 5HP |
DELMOOR PROPERTY INVESTMENT COMPANY |
LIMITED (REGISTERED NUMBER: 05951747) |
BALANCE SHEET |
31ST MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
DELMOOR PROPERTY INVESTMENT COMPANY |
LIMITED (REGISTERED NUMBER: 05951747) |
BALANCE SHEET - continued |
31ST 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 director and authorised for issue on |
DELMOOR PROPERTY INVESTMENT COMPANY |
LIMITED (REGISTERED NUMBER: 05951747) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
1. | STATUTORY INFORMATION |
Delmoor Property Investment Company Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in sterling which is the functional currency of the company and are rounded to the nearest £1. |
Going concern |
The director believes that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern and therefore the going concern basis remains appropriate in the preparation of the financial statements. |
Turnover |
Turnover consists of rent receivable from the leasehold investment property excluding value added tax. Rent receivable is recognised in the profit and loss account on a straight line basis over the period of the lease. |
Financial instruments |
With few exceptions, the company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as cash, trade and other accounts receivable and payable and loans from banks and other third parties, including related parties. |
Basic financial instruments such as those above are recognised in the financial statements at amortised cost. |
Any exception to the above are either immaterial or do not affect more than one accounting period. |
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. |
DELMOOR PROPERTY INVESTMENT COMPANY |
LIMITED (REGISTERED NUMBER: 05951747) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
3. | 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. |
Investment property |
Investment properties are included at fair value. Gains and losses are recognised in the Income Statement and included within the fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold or at the rate applicable at the balance sheet date. |
Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company. |
Cash and cash equivalents |
Cash is represented by cash at bank and on hand, and bank overdrafts. |
Trade and other debtors |
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. |
Trade and other creditors |
Trade and other creditors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
5. | TANGIBLE FIXED ASSETS |
Leasehold |
investment |
property |
£ |
COST |
At 1st April 2022 |
and 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
DELMOOR PROPERTY INVESTMENT COMPANY |
LIMITED (REGISTERED NUMBER: 05951747) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
The director is of the opinion that no adjustment is required to the carrying value of the company's leasehold investment property at 31st March 2023. |
The company's leasehold investment property is held for use under an informal lease. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The loan is secured on the companies lease hold investment property and is repayable by monthly instalments including interest, expiring in 2026. |