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DERBYSHIRE LEGAL SERVICES (PROPERTY)
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






DERBYSHIRE LEGAL SERVICES (PROPERTY)
LIMITED (REGISTERED NUMBER: 13323516)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DERBYSHIRE LEGAL SERVICES (PROPERTY)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C D Gale
Mrs J C Renshaw
R L Roberts





REGISTERED OFFICE: Sherwood House
1 Snitterton Road
Matlock
Derbyshire
DE4 3LZ





REGISTERED NUMBER: 13323516 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

DERBYSHIRE LEGAL SERVICES (PROPERTY)
LIMITED (REGISTERED NUMBER: 13323516)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 500,000 500,000

CURRENT ASSETS
Debtors 5 1,148 1,606
Cash at bank 6,582 5,591
7,730 7,197
CREDITORS
Amounts falling due within one year 6 153,350 147,437
NET CURRENT LIABILITIES (145,620 ) (140,240 )
TOTAL ASSETS LESS CURRENT LIABILITIES 354,380 359,760

CREDITORS
Amounts falling due after more than one year 7 (244,302 ) (250,215 )

PROVISIONS FOR LIABILITIES 9 (27,500 ) (27,400 )
NET ASSETS 82,578 82,145

CAPITAL AND RESERVES
Called up share capital 10 3 3
Retained earnings 82,575 82,142
SHAREHOLDERS' FUNDS 82,578 82,145

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.

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 9 September 2024 and were signed on its behalf by:





R L Roberts - Director


DERBYSHIRE LEGAL SERVICES (PROPERTY)
LIMITED (REGISTERED NUMBER: 13323516)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Derbyshire Legal Services (Property) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 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 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.

Going concern
The financial statements have been prepared on a going concern basis, the applicability of which is dependent upon the continued support of the company's directors. The directors have pledged to support the company for the foreseeable future and it is therefore appropriate to adopt the going concern policy.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

DERBYSHIRE LEGAL SERVICES (PROPERTY)
LIMITED (REGISTERED NUMBER: 13323516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 500,000
NET BOOK VALUE
At 31 March 2024 500,000
At 31 March 2023 500,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 7,132
Valuation in 2023 103,252
Cost 389,616
500,000

Investment property was valued on 5th September 2023 by Fidler Taylor Ltd.

The directors have assessed that there was no difference in the valuation of investment property between the date of the professional valuation and the reporting date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,148 1,606

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,731 5,549
Other creditors 147,619 141,888
153,350 147,437

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 244,302 250,215

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 250,033 255,764

The bank borrowings are secured by first legal charges over the company's investment property plus fixed and floating charges over the assets of the company.

DERBYSHIRE LEGAL SERVICES (PROPERTY)
LIMITED (REGISTERED NUMBER: 13323516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 27,500 27,400

Deferred
tax
£   
Balance at 1 April 2023 27,400
Provided during year 100
Balance at 31 March 2024 27,500

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3 Ordinary £1 3 3

11. RELATED PARTY DISCLOSURES

At the year end, £73,464 (2023: £68,058) was due to companies under common control. These amounts are interest-free and repayable on demand.