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REGISTERED NUMBER: 07425534 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

DE FACTO REPORTS LIMITED

DE FACTO REPORTS LIMITED (REGISTERED NUMBER: 07425534)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DE FACTO REPORTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mrs P A Moroney
Dr J D Moroney





REGISTERED OFFICE: Equinox House
Clifton Park, Shipton Road
York
Yorkshire
YO30 5PA





REGISTERED NUMBER: 07425534 (England and Wales)





ACCOUNTANTS: Fortus North Limited
Equinox House
Clifton Park, Shipton Road
York
Yorkshire
YO30 5PA

DE FACTO REPORTS LIMITED (REGISTERED NUMBER: 07425534)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,520 13,169
Investment property 5 365,000 365,000
376,520 378,169

CURRENT ASSETS
Debtors 6 814 1,206
Cash at bank and in hand 10,701 54,816
11,515 56,022
CREDITORS
Amounts falling due within one year 7 57,914 94,975
NET CURRENT LIABILITIES (46,399 ) (38,953 )
TOTAL ASSETS LESS CURRENT LIABILITIES 330,121 339,216

PROVISIONS FOR LIABILITIES 1,445 1,595
NET ASSETS 328,676 337,621

CAPITAL AND RESERVES
Called up share capital 8 10 10
Revaluation reserve 67,960 67,960
Retained earnings 260,706 269,651
SHAREHOLDERS' FUNDS 328,676 337,621

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

DE FACTO REPORTS LIMITED (REGISTERED NUMBER: 07425534)

BALANCE SHEET - continued
30 NOVEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2024 and were signed on its behalf by:




Dr J D Moroney - Director



Mrs P A Moroney - Director


DE FACTO REPORTS LIMITED (REGISTERED NUMBER: 07425534)

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


1. STATUTORY INFORMATION

De Facto Reports 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Investment property was valued on an open market basis on 30 November 2023 by the directors of the company.

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 balance sheet date.

The company has estimated losses of £3,029 available for carry forward against future trading profit.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

DE FACTO REPORTS LIMITED (REGISTERED NUMBER: 07425534)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 25,552 18,930 44,482
DEPRECIATION
At 1 December 2022 15,966 15,347 31,313
Charge for year 753 896 1,649
At 30 November 2023 16,719 16,243 32,962
NET BOOK VALUE
At 30 November 2023 8,833 2,687 11,520
At 30 November 2022 9,586 3,583 13,169

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 365,000
NET BOOK VALUE
At 30 November 2023 365,000
At 30 November 2022 365,000

Investment property are included at their open market value, by reference to market evidence of transaction prices for similar properties.

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2023 365,000

If following historical cost had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 297,040 297,040

Investment property was valued on an open market basis on 30 November 2023 by the directors .

DE FACTO REPORTS LIMITED (REGISTERED NUMBER: 07425534)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 1,200
Other debtors 814 6
814 1,206

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security - 775
Other creditors 57,914 94,200
57,914 94,975

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10 Ordinary 1 10 10

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 30 November 2023 included in 'Other creditors is £51,033 (2022 - £ 92,799) owed to the directors of the company.