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Registered number: 11772366









DISDALE PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
DISDALE PROPERTIES LIMITED
REGISTERED NUMBER: 11772366

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
28,894
32,763

Investments
 5 
1,429,008
1,429,008

Investment property
 6 
6,141,469
5,940,471

  
7,599,371
7,402,242

Current assets
  

Debtors: amounts falling due within one year
 7 
605,013
569,300

Cash at bank and in hand
 8 
10,272
8,845

  
615,285
578,145

Creditors: amounts falling due within one year
 9 
(2,651,121)
(2,026,811)

Net current liabilities
  
 
 
(2,035,836)
 
 
(1,448,666)

Total assets less current liabilities
  
5,563,535
5,953,576

Creditors: amounts falling due after more than one year
 10 
(292,523)
(330,014)

  

Net assets
  
5,271,012
5,623,562


Capital and reserves
  

Called up share capital 
 12 
5,061,100
5,061,100

Revaluation reserve
  
562,332
562,332

Profit and loss account
  
(352,420)
130

  
5,271,012
5,623,562


Page 1

 
DISDALE PROPERTIES LIMITED
REGISTERED NUMBER: 11772366
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Terence Disdale
................................................
Daniela Zulli
Director
Director


Date: 6 December 2023
Date:6 December 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Disdale Properties Limited is a private Company limited by shares and incorporated in England and Wales. The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.
The principal activity of the Company is that of a holding Company and property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. 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.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
2
2

Page 5

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 May 2022
52,232


Additions
5,286



At 30 April 2023

57,518



Depreciation


At 1 May 2022
19,469


Charge for the year on owned assets
9,155



At 30 April 2023

28,624



Net book value



At 30 April 2023
28,894



At 30 April 2022
32,763


5.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 May 2022
1,269,100
159,908
1,429,008



At 30 April 2023
1,269,100
159,908
1,429,008




Page 6

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 May 2022
5,940,471


Additions at cost
200,998



At 30 April 2023
6,141,469

The 2023 valuations were made by Directors of the company, on an open market value for existing use basis.



At 30 April 2023





7.


Debtors

2023
2022
£
£


Trade debtors
1,933
1,933

Amounts owed by group undertakings
594,940
559,846

Other debtors
573
418

Prepayments and accrued income
7,567
7,103

605,013
569,300



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
10,272
8,845

10,272
8,845


Page 7

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
41,192
32,357

Trade creditors
6,909
3,528

Amounts owed to group undertakings
2,601,334
1,982,880

Other creditors
258
1,314

Accruals and deferred income
1,428
6,732

2,651,121
2,026,811



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
292,523
330,014

292,523
330,014



11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
41,192
32,357


41,192
32,357

Amounts falling due 1-2 years

Bank loans
292,523
330,014


292,523
330,014



333,715
362,371


Page 8

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



5,061,100 (2022 - 5,061,100) Ordinary B shares of £1.00 each
5,061,100
5,061,100


 
Page 9