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REGISTERED NUMBER: 12484983 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

DNV PROPERTIES LTD

DNV PROPERTIES LTD (Registered number: 12484983)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DNV PROPERTIES LTD

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr Nivesh Jamnadas Vaghjiani
Mrs Dina Nivesh Vaghjiani





REGISTERED OFFICE: Devonshire House
582 Honeypot Lane
Stanmore
MIDDLESEX
HA7 1JS





REGISTERED NUMBER: 12484983 (England and Wales)





ACCOUNTANTS: Capitax Financial Limited
Devonshire House
582 Honeypot Lane
Stanmore
MIDDLESEX
HA7 1JS

DNV PROPERTIES LTD (Registered number: 12484983)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 994,276 994,276

CURRENT ASSETS
Debtors 5 9,326 8,955
Cash at bank 16,698 11,356
26,024 20,311
CREDITORS
Amounts falling due within one year 6 287,098 290,473
NET CURRENT LIABILITIES (261,074 ) (270,162 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

733,202

724,114

CREDITORS
Amounts falling due after more than one year 7 757,600 757,600
NET LIABILITIES (24,398 ) (33,486 )

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 (31,206 ) (31,206 )
Retained earnings 6,708 (2,380 )
SHAREHOLDERS' FUNDS (24,398 ) (33,486 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

DNV PROPERTIES LTD (Registered number: 12484983)

Balance Sheet - continued
29 February 2024


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 3 May 2024 and were signed on its behalf by:





Mr Nivesh Jamnadas Vaghjiani - Director


DNV PROPERTIES LTD (Registered number: 12484983)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

DNV PROPERTIES LTD 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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 NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 994,276
NET BOOK VALUE
At 29 February 2024 994,276
At 28 February 2023 994,276

DNV PROPERTIES LTD (Registered number: 12484983)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INVESTMENT PROPERTY - continued

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 (38,525 )
Cost 1,032,801
994,276

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 9,326 8,955

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Taxation and social security 1,573 -
Other creditors 285,525 290,473
287,098 290,473

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Other creditors 757,600 757,600

8. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 (31,206 )

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year ended 29 February 2024, DNV Properties Ltd owed £180,180 to its directors. This amount is reflected in their respective director's loan accounts in credit balances, which are shown as part of Other Creditors under Creditors due within one year. Please be advised that both the directors have agreed to provide this loan on an interest free basis and the loan is repayable on demand.


10. RELATED PARTY DISCLOSURES

During the year ended 29 February 2024, DNV Properties Ltd borrowed short-term loan of £101,007 from related company on an interest free basis. Please be advised the loan is repayable on demand and is shown as part of Other creditors under Creditors falling due within one year.