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REGISTERED NUMBER: 06630003 (England and Wales)












DAMSEL PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






DAMSEL PROPERTIES LIMITED (REGISTERED NUMBER: 06630003)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DAMSEL PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: Mrs C Panayiotou





REGISTERED OFFICE: 85 The Ridgeway
Potters Bar
Hertfordshire
EN6 4BG





REGISTERED NUMBER: 06630003 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

DAMSEL PROPERTIES LIMITED (REGISTERED NUMBER: 06630003)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 620,000 620,000

CURRENT ASSETS
Debtors 5 6,544 -
Cash at bank 4,034 2,769
10,578 2,769
CREDITORS
Amounts falling due within one year 6 102,387 100,554
NET CURRENT LIABILITIES (91,809 ) (97,785 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

528,191

522,215

CREDITORS
Amounts falling due after more than one
year

7

(232,095

)

(231,667

)

PROVISIONS FOR LIABILITIES 10 (32,866 ) (20,047 )
NET ASSETS 263,230 270,501

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 234,821 250,021
Retained earnings 28,309 20,380
SHAREHOLDERS' FUNDS 263,230 270,501

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

DAMSEL PROPERTIES LIMITED (REGISTERED NUMBER: 06630003)

BALANCE SHEET - continued
30 JUNE 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 February 2024 and were signed by:





Mrs C Panayiotou - Director


DAMSEL PROPERTIES LIMITED (REGISTERED NUMBER: 06630003)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Damsel Properties Limited 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.

Turnover
Turnover represents the net rents receivable, excluding value added tax. Turnover is recognised when rent becomes due under the lease agreement.

Investment property
The company's investment properties are held for long term investment and are included in the balance sheet at their fair value. No depreciation is provided in respect of freehold and long leasehold investment properties.

This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The director considers that this policy is necessary in order that the accounts may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown, cannot be separately identified or quantified.

All Investment properties are revalued every year. The surplus(es) or deficit(s) on revaluation of such properties are transferred to revaluation reserve, apart from when the revaluation is below the original cost and in the opinion of the directors the diminution in value is of a permanent nature which is charged to the profit and loss account. On the disposal of a revalued fixed asset, any related balances in the revaluation reserve are transferred to the profit and loss account as a movement in reserves.

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 statement of financial position 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.

DAMSEL PROPERTIES LIMITED (REGISTERED NUMBER: 06630003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalue amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 620,000
NET BOOK VALUE
At 30 June 2023 620,000
At 30 June 2022 620,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2016 90,068
Valuation in 2017 60,000
Valuation in 2020 40,000
Valuation in 2021 80,000
Cost 349,932
620,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other debtors 4,463 -
Mousicos Holdings Ltd 1,959 -
Prepayments and accrued income 122 -
6,544 -

DAMSEL PROPERTIES LIMITED (REGISTERED NUMBER: 06630003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other loans (see note 8) 97,865 97,865
Tax 1,302 237
Directors' current accounts 746 68
Accruals and deferred income 1,334 1,334
Accrued expenses 1,140 1,050
102,387 100,554

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans (see note 8) 232,095 231,667

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 232,095 231,667

8. LOANS

An analysis of the maturity of loans is given below:

30.6.23 30.6.22
£    £   
Amounts falling due within one year or on demand:
Other loans 97,865 97,865

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 232,095 231,667

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 232,095 231,667

The bank loans are secured by a fixed and floating charge over all the assets of the company.

10. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 32,866 20,047

DAMSEL PROPERTIES LIMITED (REGISTERED NUMBER: 06630003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2022 20,047
Provided during year 12,819
Balance at 30 June 2023 32,866

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Fair
value
reserve
£   
At 1 July 2022 250,021
Deferred tax on revaluation (15,200 )

At 30 June 2023 234,821

13. CONTROLLING PARTY

At the balance sheet date, Mousicos Holdings Ltd controls the company by virtue of holding 100 per cent of the issued ordinary share capital.