2022-11-012023-10-312023-10-31false04550166DARKSTONE PROPERTY 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DARKSTONE PROPERTY LIMITED

Registered Number
04550166
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

DARKSTONE PROPERTY LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

JONES, Adrian
SMITH, Daniel
SMITH, Sandra Mary

Company Secretary

JONES, Duncan

Registered Address

Trinder House Free Street
Bishops Waltham
Southampton
SO32 1EE

Registered Number

04550166 (England and Wales)
DARKSTONE PROPERTY LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3591,500582,999
591,500582,999
Current assets
Debtors14,66233,502
Current asset investments308,890417,326
Cash at bank and on hand36,5092,435
360,061453,263
Creditors amounts falling due within one year4(41,110)(53,635)
Net current assets (liabilities)318,951399,628
Total assets less current liabilities910,451982,627
Creditors amounts falling due after one year(452,166)(465,652)
Net assets458,285516,975
Capital and reserves
Called up share capital22
Revaluation reserve443,245443,245
Profit and loss account15,03873,728
Shareholders' funds458,285516,975
The financial statements were approved and authorised for issue by the Board of Directors on 30 July 2024, and are signed on its behalf by:
SMITH, Daniel
Director
Registered Company No. 04550166
DARKSTONE PROPERTY LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 22620,383
Additions11,851
At 31 October 23632,234
Depreciation and impairment
At 01 November 2237,384
Charge for year22,586
Other adjustments(19,236)
At 31 October 2340,734
Net book value
At 31 October 23591,500
At 31 October 22582,999
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables-3,705
Bank borrowings and overdrafts35,12043,940
Taxation and social security5,6405,640
Accrued liabilities and deferred income350350
Total41,11053,635
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts-6,398