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Registration number: 12328671

DKS05 Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

DKS05 Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

DKS05 Limited

Company Information

Directors

Mr S Singh

Mrs D K Sran

Registered office

10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

Accountants

Xeinadin Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
DKS05 Limited
for the Year Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DKS05 Limited for the year ended 30 November 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of DKS05 Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of DKS05 Limited and state those matters that we have agreed to state to the Board of Directors of DKS05 Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DKS05 Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that DKS05 Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of DKS05 Limited. You consider that DKS05 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of DKS05 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................


Xeinadin Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

29 July 2024

 

DKS05 Limited

(Registration number: 12328671)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

339,817

339,817

Current assets

 

Debtors

5

5,848

457

Cash at bank and in hand

 

6,260

4,741

 

12,108

5,198

Creditors: Amounts falling due within one year

6

(175,110)

(159,426)

Net current liabilities

 

(163,002)

(154,228)

Total assets less current liabilities

 

176,815

185,589

Creditors: Amounts falling due after more than one year

6

(194,447)

(203,062)

Net liabilities

 

(17,632)

(17,473)

Capital and reserves

 

Called up share capital

10

10

Retained earnings

(17,642)

(17,483)

Shareholders' deficit

 

(17,632)

(17,473)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

DKS05 Limited

(Registration number: 12328671)
Balance Sheet as at 30 November 2023

Approved and authorised by the Board on 29 July 2024 and signed on its behalf by:
 

.........................................
Mr S Singh
Director

 

DKS05 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

These financial statements were authorised for issue by the Board on 29 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of investment property rental income. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

DKS05 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from tenants in respect of rental arrears.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

DKS05 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Investment properties

2023
£

At 1 December

339,817

At 30 November

339,817

The director considers the carrying value to be equal to the market value at the balance sheet date.

There has been no valuation of investment property by an independent valuer.

5

Debtors

2023
£

2022
£

Prepayments and accrued income

5,848

457

5,848

457

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

88,615

88,281

Accruals and deferred income

 

870

1,145

Other creditors

 

85,625

70,000

 

175,110

159,426


Loans and borrowings include a secured creditor of £8,615 (2022 - £8,282). The loan is secured by a fixed charge over the freehold interest in the property it was used to purchase, and a floating charge over all remaining company assets.

 

DKS05 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

194,447

203,062


Loans and borrowings include a secured creditor of £194,447 (2022 - £203,062). The loan is secured by a fixed charge over the freehold interest in the property it was used to purchase, and a floating charge over all remaining company assets.

The total secured creditors were £203,062 (2022 - £211,344).

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

194,447

203,062

Current loans and borrowings

2023
£

2022
£

Bank borrowings

8,615

8,281

Other borrowings

80,000

80,000

88,615

88,281

 

DKS05 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

8

Related party transactions

Summary of transactions with other related parties

During the year the company received a loan from Q20 Security Solutions Limited.
Q20 Security Solutions Limited is a related party as its director and 100% shareholder is Mr S Singh.

 

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

80,000

80,000

At end of period

80,000

80,000

2022

Other related parties
£

Total
£

At start of period

80,000

80,000

At end of period

80,000

80,000

Terms of loans from related parties

The loan is interest free and is repayable on demand.