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REGISTERED NUMBER: 11990768 (England and Wales)











DK Commercial Properties Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2023






DK Commercial Properties Ltd (Registered number: 11990768)






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




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


DK Commercial Properties Ltd

Company Information
for the Year Ended 31 May 2023







Director: V Sharma





Registered office: Unit 3b Wentworth House
Maple Court
Tankersley
Barnsley
South Yorkshire
S75 3DP





Registered number: 11990768 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

DK Commercial Properties Ltd (Registered number: 11990768)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £   
Fixed assets
Tangible assets 4 79,395 105,862
Investments 5 2 -
Investment property 6 5,787,000 5,358,000
5,866,397 5,463,862

Current assets
Debtors 7 873,561 245,063
Cash at bank 115,702 31,008
989,263 276,071
Creditors
Amounts falling due within one year 8 (3,004,676 ) (2,524,398 )
Net current liabilities (2,015,413 ) (2,248,327 )
Total assets less current liabilities 3,850,984 3,215,535

Creditors
Amounts falling due after more than one
year

9

(3,324,466

)

(2,680,766

)

Provisions for liabilities 11 (126,233 ) (117,624 )
Net assets 400,285 417,145

DK Commercial Properties Ltd (Registered number: 11990768)

Balance Sheet - continued
31 May 2023

31.5.23 31.5.22
Notes £    £   
Capital and reserves
Called up share capital 12 100 100
Fair value reserve 13 538,150 501,449
Retained earnings (137,965 ) (84,404 )
Shareholders' funds 400,285 417,145

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 director and authorised for issue on 21 December 2023 and were signed by:





V Sharma - Director


DK Commercial Properties Ltd (Registered number: 11990768)

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

1. Statutory information

DK Commercial Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Preparation of consolidated financial statements
The financial statements contain information about DK Commercial Properties Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.


DK Commercial Properties Ltd (Registered number: 11990768)

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

2. Accounting policies - continued
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 1 (2022 - 1 ) .

4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 June 2022
and 31 May 2023 179,572
Depreciation
At 1 June 2022 73,710
Charge for year 26,467
At 31 May 2023 100,177
Net book value
At 31 May 2023 79,395
At 31 May 2022 105,862

DK Commercial Properties Ltd (Registered number: 11990768)

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

5. Fixed asset investments
Shares in
group
undertakings
£   
Cost
Additions 2
At 31 May 2023 2
Net book value
At 31 May 2023 2

The company's investments at the Balance sheet date in the share capital of companies include the following:

DK Commercial Properties 2 Limited
Registered office:
Nature of business: Real Estate
%
Class of shares: holding
Ordinary 100.00
31.5.23
£   
Aggregate capital and reserves 1,238,458
Loss for the year (69,673 )

DK Commercial Properties 3 Limited
Registered office:
Nature of business: Real Estate
%
Class of shares: holding
Ordinary 100.00

The company was formed on 28 March 2023 and no financial statements are available at the year end.

DK Commercial Properties Ltd (Registered number: 11990768)

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

6. Investment property
Total
£   
Fair value
At 1 June 2022 5,358,000
Additions 1,807,200
Disposals (1,378,000 )
Valuation changes (200 )
At 31 May 2023 5,787,000
Net book value
At 31 May 2023 5,787,000
At 31 May 2022 5,358,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2023 5,787,000

If investment property had not been revalued it would have been included at the following historical cost:

31.5.23 31.5.22
£    £   
Cost 5,122,617 4,738,927

Investment property was valued on an open market basis basis on 31 May 2023 by the director .

7. Debtors: amounts falling due within one year
31.5.23 31.5.22
£    £   
Trade debtors 62,770 7,842
Other debtors 798,943 237,221
Prepayments 11,848 -
873,561 245,063

DK Commercial Properties Ltd (Registered number: 11990768)

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

8. Creditors: amounts falling due within one year
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 6,250 6,250
Trade creditors - 6
Taxation and social security 44,840 9,290
Other creditors 2,953,586 2,508,852
3,004,676 2,524,398

9. Creditors: amounts falling due after more than one year
31.5.23 31.5.22
£    £   
Bank loans 3,324,466 2,680,766

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable after more than
five years

3,299,466

2,655,766

10. Secured debts

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 3,330,716 2,687,016

11. Provisions for liabilities
31.5.23 31.5.22
£    £   
Deferred tax 126,233 117,624

Deferred
tax
£   
Balance at 1 June 2022 117,624
Provided during year 8,609
Balance at 31 May 2023 126,233

DK Commercial Properties Ltd (Registered number: 11990768)

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

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

13. Reserves
Fair
value
reserve
£   
At 1 June 2022 501,449
Transfer from retained earnings 36,701

At 31 May 2023 538,150

14. Related party disclosures

During the year the company transferred a property at cost to DK Properties 2 Limited, a wholly owned subsidiary company. At the year end there was a loan due to DK Commercial 2 Limited of £42,378.