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REGISTERED NUMBER: 03860206 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Downer & Co (Lettings) Limited

Downer & Co (Lettings) Limited (Registered number: 03860206)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Downer & Co (Lettings) Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: S D Downer
L Fenn-Tripp





SECRETARY: The Old Butchery Ltd





REGISTERED OFFICE: The Old Butchery
High Street
Twyford
Hampshire
SO21 1NH





REGISTERED NUMBER: 03860206 (England and Wales)





ACCOUNTANTS: Rothman Accountancy Services Limited
The Old Butchery
High Street
Twyford, nr Winchester
Hampshire
SO21 INH

Downer & Co (Lettings) Limited (Registered number: 03860206)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 47,066 7,557
Tangible assets 5 6,344 9,452
53,410 17,009

CURRENT ASSETS
Debtors 6 18,868 16,758
Cash at bank 373,863 269,174
392,731 285,932
CREDITORS
Amounts falling due within one year 7 118,980 91,269
NET CURRENT ASSETS 273,751 194,663
TOTAL ASSETS LESS CURRENT
LIABILITIES

327,161

211,672

CREDITORS
Amounts falling due after more than one
year

8

(40,000

)

-

PROVISIONS FOR LIABILITIES (1,138 ) (1,343 )
NET ASSETS 286,023 210,329

CAPITAL AND RESERVES
Called up share capital 125 125
Retained earnings 285,898 210,204
SHAREHOLDERS' FUNDS 286,023 210,329

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

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

Downer & Co (Lettings) Limited (Registered number: 03860206)

Balance Sheet - continued
31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:




S D Downer - Director



L Fenn-Tripp - Director


Downer & Co (Lettings) Limited (Registered number: 03860206)

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

1. STATUTORY INFORMATION

Downer & Co (Lettings) 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.

Turnover
Turnover is the amount derived from ordinary activities and is stated after trade discounts, other sales taxes and net of VAT.

The policies adopted for the recognition of turnover are as follows:

Rendering of services - letting fees and management commission are recognised in the month to which they relate. Other services are recognised as they occur and are completed.

Interest receivable - interest is recognised when it is received.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Goodwill, being the amounts paid in connection with the acquisition of businesses in the year ended 31 August 2021 and 31August 2023, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Fixtures and fittings - 20% on reducing balance
Computer equipment - 50% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the financial instrument.

Trade debtors and trade creditors have no stated interest rate and are receivable or payable within one year. They are recorded at transaction price with any losses from impairment being recognised in profit or loss.

Loans and borrowings are initially recognised at the transaction price, including transaction costs. Basic loans are subsequently measured at amortised cost using the effective interest rate less impairment.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 ruling at the balance sheet date.


Downer & Co (Lettings) Limited (Registered number: 03860206)

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

2. 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 ruling at 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.

Operating leases
Rentals payable under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Where the company has paid in excess of the amounts due during the reporting period, that excess is recognised in current assets. Where amounts are owed to the pension scheme those amounts are recognised in current liabilities at the reporting date.

Cash and cash equivalents
Cash and cash equivalents comprise current balances with banks and similar institutions, which are readily convertible to known amounts of cash and which are subject to insignificant risk of changes in value.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reasonably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022 252,959
Additions 62,565
At 31 August 2023 315,524
AMORTISATION
At 1 September 2022 245,402
Charge for year 23,056
At 31 August 2023 268,458
NET BOOK VALUE
At 31 August 2023 47,066
At 31 August 2022 7,557

Downer & Co (Lettings) Limited (Registered number: 03860206)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 September 2022 8,584 20,230 41,544 70,358
Additions - - 623 623
At 31 August 2023 8,584 20,230 42,167 70,981
DEPRECIATION
At 1 September 2022 4,132 17,312 39,462 60,906
Charge for year 1,104 584 2,043 3,731
At 31 August 2023 5,236 17,896 41,505 64,637
NET BOOK VALUE
At 31 August 2023 3,348 2,334 662 6,344
At 31 August 2022 4,452 2,918 2,082 9,452

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 2,326 455
Other debtors 7,177 7,732
Roberts loan account 1,315 1,429
Prepayments 8,050 7,142
18,868 16,758

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 10,426 12,259
Tax 48,532 30,940
Social security and other taxes 7,902 7,704
VAT 34,829 29,784
Other creditors 3,419 3,526
Loan account 1,270 -
Accrued expenses 12,602 7,056
118,980 91,269

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Loan account 40,000 -

Downer & Co (Lettings) Limited (Registered number: 03860206)

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

9. SECURED DEBTS

The bank holds a fixed and floating charge over all the company's assets, present and future and a fixed charge over the company's cash deposits..

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies at the year end which are not included in the balance sheet amount to £4,736 (2022 £336).