REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
for |
DEMOSTHENOUS INVESTMENTS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
for |
DEMOSTHENOUS INVESTMENTS LIMITED |
DEMOSTHENOUS INVESTMENTS LIMITED (REGISTERED NUMBER: 04081846) |
Contents of the Financial Statements |
for the year ended 31 OCTOBER 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
DEMOSTHENOUS INVESTMENTS LIMITED |
Company Information |
for the year ended 31 OCTOBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Global House |
303 Ballards Lane |
London |
N12 8NP |
DEMOSTHENOUS INVESTMENTS LIMITED (REGISTERED NUMBER: 04081846) |
Statement of Financial Position |
31 OCTOBER 2023 |
31/10/23 | 31/10/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
DEMOSTHENOUS INVESTMENTS LIMITED (REGISTERED NUMBER: 04081846) |
Statement of Financial Position - continued |
31 OCTOBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DEMOSTHENOUS INVESTMENTS LIMITED (REGISTERED NUMBER: 04081846) |
Notes to the Financial Statements |
for the year ended 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Demosthenous Investments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents receivable from the investment properties owned by company. Rents are recognised up to the year end date. |
Investment property |
Investment properties are revalued annually at their open market value in accordance with FRS 102 Section 1A. The surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit reduces the property below its historical cost, in which case it is taken to the profit and loss account. |
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. |
Taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
DEMOSTHENOUS INVESTMENTS LIMITED (REGISTERED NUMBER: 04081846) |
Notes to the Financial Statements - continued |
for the year ended 31 OCTOBER 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2022 |
Revaluations | 75,000 |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
Fair value at 31 October 2023 is represented by: |
£ |
Valuation in 2014 | 198,518 |
Valuation in 2020 | 275,000 |
Valuation in 2023 | 75,000 |
Cost | 1,001,482 |
1,550,000 |
The fair value of the property at October 2023 has been arrived at on the basis of a valuation carried out at the date by B Kiteow, a director of the company who is not a professionally qualified valuer. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location and takes into account the rental in the area where the properties are situated. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/10/23 | 31/10/22 |
£ | £ |
Trade debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/10/23 | 31/10/22 |
£ | £ |
Bank loans and overdrafts |
Accrued Income | 8,185 | 12,056 |
Tax |
Other creditors |
Directors' current accounts | 252 | 269 |
Accrued expenses |
8. | PROVISIONS FOR LIABILITIES |
31/10/23 | 31/10/22 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
DEMOSTHENOUS INVESTMENTS LIMITED (REGISTERED NUMBER: 04081846) |
Notes to the Financial Statements - continued |
for the year ended 31 OCTOBER 2023 |
8. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 November 2022 |
Provided during year |
Balance at 31 October 2023 |