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REGISTERED NUMBER: 05221689 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Dack Property Management Company Limited

Dack Property Management Company Limited (Registered number: 05221689)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dack Property Management Company Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P S Dack
M G Growse
Mrs A Dack





SECRETARY: Mrs M J Growse





REGISTERED OFFICE: 3 Dunstan Close
Chichester
West Sussex
PO19 5NZ





REGISTERED NUMBER: 05221689 (England and Wales)





ACCOUNTANTS: Ency Associates
Chartered Certified Accountants
Printware Court
Cumberland Business Centre
Northumberland Road
Portsmouth
Hampshire
PO5 1DS

Dack Property Management Company Limited (Registered number: 05221689)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,000 18,000
Tangible assets 5 19,275 24,270
Investments 6 - -
28,275 42,270

CURRENT ASSETS
Debtors 7 81,563 76,789
Client monies held 3,741,207 3,081,463
Cash at bank and in hand 244,724 271,767
4,067,494 3,430,019
CREDITORS
Amounts falling due within one year 8 3,862,688 3,224,585
NET CURRENT ASSETS 204,806 205,434
TOTAL ASSETS LESS CURRENT LIABILITIES 233,081 247,704

PROVISIONS FOR LIABILITIES 4,172 3,880
NET ASSETS 228,909 243,824

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 228,809 243,724
SHAREHOLDERS' FUNDS 228,909 243,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Dack Property Management Company Limited (Registered number: 05221689)

Balance Sheet - continued
31 December 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 18 July 2024 and were signed on its behalf by:




P S Dack - Director M G Growse - Director




Mrs A Dack - Director


Dack Property Management Company Limited (Registered number: 05221689)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Dack Property Management Company 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost
Fixtures & fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.


Dack Property Management Company Limited (Registered number: 05221689)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 180,000
AMORTISATION
At 1 January 2023 162,000
Charge for year 9,000
At 31 December 2023 171,000
NET BOOK VALUE
At 31 December 2023 9,000
At 31 December 2022 18,000

Dack Property Management Company Limited (Registered number: 05221689)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Improvements
Short to Fixtures
leasehold property & fittings
£    £    £   
COST
At 1 January 2023 - 19,246 30,600
Additions 690 - 211
At 31 December 2023 690 19,246 30,811
DEPRECIATION
At 1 January 2023 - 15,397 18,302
Charge for year 46 962 1,868
At 31 December 2023 46 16,359 20,170
NET BOOK VALUE
At 31 December 2023 644 2,887 10,641
At 31 December 2022 - 3,849 12,298

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 7,700 35,426 92,972
Additions - 3,512 4,413
At 31 December 2023 7,700 38,938 97,385
DEPRECIATION
At 1 January 2023 6,770 28,233 68,702
Charge for year 232 6,300 9,408
At 31 December 2023 7,002 34,533 78,110
NET BOOK VALUE
At 31 December 2023 698 4,405 19,275
At 31 December 2022 930 7,193 24,270

Dack Property Management Company Limited (Registered number: 05221689)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 1,000
Disposals (1,000 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 33,806 35,262
Other debtors 47,757 41,527
81,563 76,789

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 10,982 8,547
Client ledger balances 3,741,207 3,081,463
Tax 25,661 26,503
Social security and other taxes 20,810 18,196
VAT 47,019 40,883
Other creditors 8,416 3,874
Director's current account 6,444 43,425
Accrued expenses 2,149 1,694
3,862,688 3,224,585

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 6,529 4,394
Between one and five years 68,000 90,586
74,529 94,980

Dack Property Management Company Limited (Registered number: 05221689)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P S Dack.