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REGISTERED NUMBER: 14906490 (England and Wales)














FINANCIAL STATEMENTS

FOR THE PERIOD 31 MAY 2023 TO 31 MAY 2024

FOR

DURHAM LETS LTD

DURHAM LETS LTD (REGISTERED NUMBER: 14906490)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 MAY 2023 TO 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DURHAM LETS LTD

COMPANY INFORMATION
FOR THE PERIOD 31 MAY 2023 TO 31 MAY 2024







DIRECTORS: AJ Bell
LM Jackson





REGISTERED OFFICE: 3 Spencer Close
Stanley
County Durham
DH9 6TY





REGISTERED NUMBER: 14906490 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

DURHAM LETS LTD (REGISTERED NUMBER: 14906490)

BALANCE SHEET
31 MAY 2024

Notes £    £   
FIXED ASSETS
Investment property 4 214,950

CURRENT ASSETS
Debtors 5 112
Cash at bank 89,528
89,640
CREDITORS
Amounts falling due within one year 6 273,200
NET CURRENT LIABILITIES (183,560 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,390

PROVISIONS FOR LIABILITIES 7,215
NET ASSETS 24,175

CAPITAL AND RESERVES
Called up share capital 7 100
Retained earnings 8 24,075
SHAREHOLDERS' FUNDS 24,175

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2024.

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:



AJ Bell - Director


DURHAM LETS LTD (REGISTERED NUMBER: 14906490)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 MAY 2023 TO 31 MAY 2024

1. STATUTORY INFORMATION

Durham Lets 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.

Turnover
Rental income derives from rent due from properties held for investment. Income is recognised on a receivable basis.

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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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 period was 2 .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 186,090
Revaluations 28,860
At 31 May 2024 214,950
NET BOOK VALUE
At 31 May 2024 214,950

DURHAM LETS LTD (REGISTERED NUMBER: 14906490)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 MAY 2023 TO 31 MAY 2024

4. INVESTMENT PROPERTY - continued

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 214,950

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 112

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Taxation and social security 570
Other creditors 272,630
273,200

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary £1.00 100

100 Ordinary shares of £1.00 each were allotted and fully paid for cash at par during the period.

8. RESERVES

Included within retained earnings is £21,645 of non-distributable reserves.

9. RELATED PARTY DISCLOSURES

During the year the directors maintained an interest free loan to the company. At the year end the balance on the loan was £271,070.