IRIS Accounts Production v24.1.4.33 13231684 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh132316842023-03-31132316842024-03-31132316842023-04-012024-03-31132316842022-03-31132316842022-04-012023-03-31132316842023-03-3113231684ns15:EnglandWales2023-04-012024-03-3113231684ns14:PoundSterling2023-04-012024-03-3113231684ns10:Director12023-04-012024-03-3113231684ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3113231684ns10:SmallEntities2023-04-012024-03-3113231684ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3113231684ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3113231684ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3113231684ns10:FullAccounts2023-04-012024-03-3113231684ns10:Director22023-04-012024-03-3113231684ns10:RegisteredOffice2023-04-012024-03-3113231684ns5:CurrentFinancialInstruments2024-03-3113231684ns5:CurrentFinancialInstruments2023-03-3113231684ns5:Non-currentFinancialInstruments2024-03-3113231684ns5:Non-currentFinancialInstruments2023-03-3113231684ns5:ShareCapital2024-03-3113231684ns5:ShareCapital2023-03-3113231684ns5:RevaluationReserve2024-03-3113231684ns5:RevaluationReserve2023-03-3113231684ns5:RetainedEarningsAccumulatedLosses2024-03-3113231684ns5:RetainedEarningsAccumulatedLosses2023-03-3113231684ns5:DeferredTaxation2023-03-3113231684ns5:DeferredTaxation2024-03-3113231684ns5:RevaluationReserve2023-03-31132316841ns10:Director12023-03-31132316841ns10:Director12022-03-31132316841ns10:Director12023-04-012024-03-31132316841ns10:Director12022-04-012023-03-31132316841ns10:Director12024-03-31132316841ns10:Director12023-03-3113231684ns10:Director222023-03-3113231684ns10:Director222022-03-3113231684ns10:Director222023-04-012024-03-3113231684ns10:Director222022-04-012023-03-3113231684ns10:Director222024-03-3113231684ns10:Director222023-03-31
REGISTERED NUMBER: 13231684 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Driscoll Properties Limited

Driscoll Properties Limited (Registered number: 13231684)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Driscoll Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs C Driscoll
Miss N Driscoll





REGISTERED OFFICE: 59 Grasmere Road
Gatley
Cheadle
Cheshire
SK8 4RS





REGISTERED NUMBER: 13231684 (England and Wales)





ACCOUNTANTS: Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR

Driscoll Properties Limited (Registered number: 13231684)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 1,987,000 1,705,000

CURRENT ASSETS
Debtors 5 1,474 -
Cash at bank 31,432 27,306
32,906 27,306
CREDITORS
Amounts falling due within one year 6 (8,697 ) (10,271 )
NET CURRENT ASSETS 24,209 17,035
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,011,209

1,722,035

CREDITORS
Amounts falling due after more than one
year

7

(620,485

)

(644,324

)

PROVISIONS FOR LIABILITIES 8 (328,079 ) (195,760 )
NET ASSETS 1,062,645 881,951

CAPITAL AND RESERVES
Called up share capital 20 20
Revaluation reserve 9 1,312,316 1,030,316
Retained earnings (249,691 ) (148,385 )
1,062,645 881,951

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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

Driscoll Properties Limited (Registered number: 13231684)

Balance Sheet - continued
31 March 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 8 August 2024 and were signed on its behalf by:





Mrs C Driscoll - Director


Driscoll Properties Limited (Registered number: 13231684)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Driscoll Properties 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.

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 3 (2023 - 2 ) .

Driscoll Properties Limited (Registered number: 13231684)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,705,000
Revaluations 282,000
At 31 March 2024 1,987,000
NET BOOK VALUE
At 31 March 2024 1,987,000
At 31 March 2023 1,705,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 1,030,316
Valuation in 2024 282,000
Cost 674,684
1,987,000

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

2024 2023
£    £   
Cost 1,705,000 -

Investment property was valued on an open market basis on 16 July 2024 by Mrs C Driscoll .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 1,474 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 7,273 9,257
Wages Payable 350 -
Accrued expenses 1,074 1,014
8,697 10,271

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Directors' loan accounts 620,485 644,324

Driscoll Properties Limited (Registered number: 13231684)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 328,079 195,760

Deferred
tax
£   
Balance at 1 April 2023 195,760
Revaluation 132,319
Balance at 31 March 2024 328,079

9. RESERVES
Revaluation
reserve
£   
At 1 April 2023 1,030,316
Revaluation 282,000

At 31 March 2024 1,312,316

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mrs C Driscoll
Balance outstanding at start of year 313,858 329,473
Amounts advanced 2,668 2,675
Amounts repaid (17,500 ) (18,290 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 299,026 313,858

Miss N Driscoll
Balance outstanding at start of year 330,466 329,473
Amounts advanced 13,000 2,000
Amounts repaid (20,007 ) (1,007 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 323,459 330,466

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Driscoll Properties Limited

The following reproduces the text of the report prepared for the directors in respect of the Company's annual unaudited financial statements. In accordance with the Companies Act 2006, the Company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Driscoll Properties Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Driscoll Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Driscoll Properties Limited and state those matters that we have agreed to state to the Board of Directors of Driscoll Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Driscoll Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Driscoll Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Driscoll Properties Limited. You consider that Driscoll Properties 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 financial statements of Driscoll Properties 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 financial statements.






Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR


Date: .............................................