IRIS Accounts Production v24.1.0.578 09302589 Board of Directors 1.12.22 30.11.23 30.11.23 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure093025892022-11-30093025892023-11-30093025892022-12-012023-11-30093025892021-11-30093025892021-12-012022-11-30093025892022-11-3009302589ns16:EnglandWales2022-12-012023-11-3009302589ns15:PoundSterling2022-12-012023-11-3009302589ns11:Director12022-12-012023-11-3009302589ns11:PrivateLimitedCompanyLtd2022-12-012023-11-3009302589ns11:SmallEntities2022-12-012023-11-3009302589ns11:AuditExempt-NoAccountantsReport2022-12-012023-11-3009302589ns11:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3009302589ns11:SmallCompaniesRegimeForAccounts2022-12-012023-11-3009302589ns11:FullAccounts2022-12-012023-11-3009302589ns11:OrdinaryShareClass12022-12-012023-11-3009302589ns11:Director32022-12-012023-11-3009302589ns11:RegisteredOffice2022-12-012023-11-3009302589ns6:CurrentFinancialInstruments2023-11-3009302589ns6:CurrentFinancialInstruments2022-11-3009302589ns6:Non-currentFinancialInstruments2023-11-3009302589ns6:Non-currentFinancialInstruments2022-11-3009302589ns6:ShareCapital2023-11-3009302589ns6:ShareCapital2022-11-3009302589ns6:RetainedEarningsAccumulatedLosses2023-11-3009302589ns6:RetainedEarningsAccumulatedLosses2022-11-3009302589ns6:CostValuation2022-11-3009302589ns6:TransfersBetweenInvestmentClassesIncreaseDecreaseInInvestments2023-11-3009302589ns6:CostValuation2023-11-3009302589ns6:WithinOneYearns6:CurrentFinancialInstruments2023-11-3009302589ns6:WithinOneYearns6:CurrentFinancialInstruments2022-11-3009302589ns6:CurrentFinancialInstruments2022-12-012023-11-3009302589ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-11-3009302589ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-11-3009302589ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-11-3009302589ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-11-3009302589ns6:Non-currentFinancialInstruments2022-12-012023-11-3009302589ns6:DeferredTaxation2022-11-3009302589ns6:DeferredTaxation2023-11-3009302589ns11:OrdinaryShareClass12023-11-3009302589ns6:RetainedEarningsAccumulatedLosses2022-11-3009302589ns6:RetainedEarningsAccumulatedLosses2022-12-012023-11-30
REGISTERED NUMBER: 09302589 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Digby Road Limited

Digby Road Limited (Registered number: 09302589)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Digby Road Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: J N Loftus
S Hew





REGISTERED OFFICE: The Roma Building
32-38 Scrutton Street
London
EC2A 4RQ





REGISTERED NUMBER: 09302589 (England and Wales)






Digby Road Limited (Registered number: 09302589)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Investments 4 491,952 637,795
Investment property 5 5,765,805 5,774,205
6,257,757 6,412,000

Current assets
Debtors 6 1,417,993 859,835
Cash at bank 7 258,422 508,319
1,676,415 1,368,154
Creditors
Amounts falling due within one year 8 307,541 382,423
Net current assets 1,368,874 985,731
Total assets less current liabilities 7,626,631 7,397,731

Creditors
Amounts falling due after more than one
year

9

(5,600,750

)

(5,536,350

)

Provisions for liabilities 10 (11,407 ) (11,407 )
Net assets 2,014,474 1,849,974

Capital and reserves
Called up share capital 11 96 96
Retained earnings 12 2,014,378 1,849,878
Shareholders' funds 2,014,474 1,849,974

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Digby Road Limited (Registered number: 09302589)

Statement of Financial Position - continued
30 November 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 30 August 2024 and were signed on its behalf by:





J N Loftus - Director


Digby Road Limited (Registered number: 09302589)

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

1. Statutory information

Digby Road 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.

Going concern
The directors have at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue
Revenue represents rental income receivable and any other income such as insurance recoverable
and dilapidations from the operating leases, net of VAT where applicable. Rentals receivable from
assets leased under operating leases is recognised on a straight-line basis over the term of the lease.
Rent free periods or other incentives given to the lessee are accounted for as reduction to turnover and
recognised on a straight-line basis over the lease term.

Investment property
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition, investment properties are held at fair value. Any gains or losses arising from changes in the fair value are recognised in profit or loss in the period that they arise. No depreciation is provided in respect of investment properties applying the fair value model.

Digby Road Limited (Registered number: 09302589)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Digby Road Limited (Registered number: 09302589)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. Accounting policies - continued

Cash at bank and in hand
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less.

3. Employees and directors

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

4. Fixed asset investments
Other
investments
£   
Cost
At 1 December 2022 637,795
Reclassification/transfer (145,843 )
At 30 November 2023 491,952
Net book value
At 30 November 2023 491,952
At 30 November 2022 637,795

5. Investment property
Total
£   
Fair value
At 1 December 2022
and 30 November 2023 5,774,205
Depreciation
Reclassification/transfer 8,400
At 30 November 2023 8,400
Net book value
At 30 November 2023 5,765,805
At 30 November 2022 5,774,205


6. Debtors
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 99,102 92,758
Prepayments and accrued income 26,974 33,078
126,076 125,836

Digby Road Limited (Registered number: 09302589)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. Debtors - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 1,291,917 733,999

Aggregate amounts 1,417,993 859,835

7. Cash at bank
2023 2022
£    £   
Bank deposit account 222,386 453,209
Client deposit account 36,036 55,110
258,422 508,319

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 85,600 85,600
Trade creditors 1,399 27,493
Tax 54,835 42,228
VAT 48,919 22,309
Other creditors 36,036 137,833
Accruals and deferred income 80,752 66,960
307,541 382,423

Included within other creditors is £36,036 (2022: £55,110) relating to tenant deposits, the corresponding entry can be found in note 8.

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 85,600 85,600
Bank loans - 2-5 years 2,125,150 2,210,750
Other creditors 3,390,000 3,240,000
5,600,750 5,536,350

The other creditors balance of £3,390,000 (2022: £3,240,000) relates to loans owed to shareholders.

10. Provisions for liabilities
2023 2022
£    £   
Deferred tax 11,407 11,407

Deferred
tax
£   
Balance at 1 December 2022 11,407
Balance at 30 November 2023 11,407

Digby Road Limited (Registered number: 09302589)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
96 Ordinary 1 96 96

12. Reserves
Retained
earnings
£   

At 1 December 2022 1,849,878
Profit for the year 164,500
At 30 November 2023 2,014,378