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COMPANY REGISTRATION NUMBER: 06626752
D & R Property Services Limited
Filleted Unaudited Financial Statements
For the year ended
31 October 2023
D & R Property Services Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
414,706
74,151
Investments
6
419,607
419,517
---------
---------
834,313
493,668
Current assets
Stocks
3,261,605
1,705,581
Debtors
7
1,866,074
1,158,802
Cash at bank and in hand
454,808
1,485,730
------------
------------
5,582,487
4,350,113
Creditors: amounts falling due within one year
8
2,322,645
547,730
------------
------------
Net current assets
3,259,842
3,802,383
------------
------------
Total assets less current liabilities
4,094,155
4,296,051
Provisions
Taxation including deferred tax
( 60,996)
( 62,022)
------------
------------
Net assets
4,155,151
4,358,073
------------
------------
D & R Property Services Limited
Statement of Financial Position (continued)
31 October 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
2,618,150
2,718,150
Profit and loss account
1,537,001
1,639,923
------------
------------
Shareholders funds
4,155,151
4,358,073
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 February 2024 , and are signed on behalf of the board by:
R I Spenceley
Director
Company registration number: 06626752
D & R Property Services Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Enterprise House, 38 Tyndall Court, Commerce Road, Lynch Wood, Peterborough, PE2 6LR, Cambs.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised are disclosed in the accounting policies. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: 1 Closing stock of development sites are valued at direct costs incurred to date less any impairment where necessary. 2 Preference shares are included in the financial statements as equity instruments owing to the terms attached to these instruments.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Income from investments is recognised when received.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Investment property
Total
£
£
£
£
£
Cost
At 1 November 2022
17,735
61,560
6,609
85,904
Additions
400,000
400,000
Disposals
( 61,560)
( 61,560)
--------
--------
-------
---------
---------
At 31 October 2023
17,735
6,609
400,000
424,344
--------
--------
-------
---------
---------
Depreciation
At 1 November 2022
3,156
6,412
2,185
11,753
Charge for the year
3,187
7,695
1,110
11,992
Disposals
( 14,107)
( 14,107)
--------
--------
-------
---------
---------
At 31 October 2023
6,343
3,295
9,638
--------
--------
-------
---------
---------
Carrying amount
At 31 October 2023
11,392
3,314
400,000
414,706
--------
--------
-------
---------
---------
At 31 October 2022
14,579
55,148
4,424
74,151
--------
--------
-------
---------
---------
6. Investments
Shares in group undertakings
Shares in participating interests
Total
£
£
£
Cost
At 1 November 2022
25,470
394,047
419,517
Additions
240
240
Disposals
( 150)
( 150)
--------
---------
---------
At 31 October 2023
25,560
394,047
419,607
--------
---------
---------
Impairment
At 1 November 2022 and 31 October 2023
--------
---------
---------
Carrying amount
At 31 October 2023
25,560
394,047
419,607
--------
---------
---------
At 31 October 2022
25,470
394,047
419,517
--------
---------
---------
7. Debtors
2023
2022
£
£
Trade debtors
37,251
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,546,778
972,604
Other debtors
319,296
148,947
------------
------------
1,866,074
1,158,802
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,296,858
518,103
Trade creditors
15,528
22,453
Social security and other taxes
2,835
Other creditors
7,424
7,174
------------
---------
2,322,645
547,730
------------
---------
Bank loans and overdrafts are secured liabilities on the assets to which they relate.