Registered number
09353126
Dilton Stores Limited
Filleted Accounts
31 December 2023
Dilton Stores Limited
Registered number: 09353126
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 1,416,980 1,200,000
Current assets
Debtors 4 29,600 29,600
Cash at bank and in hand 6,762 11,150
36,362 40,750
Creditors: amounts falling due within one year 5 (1,091,308) (863,226)
Net current liabilities (1,054,946) (822,476)
Total assets less current liabilities 362,034 377,524
Creditors: amounts falling due after more than one year 6 (11,728) (15,561)
Provisions for liabilities (13,321) (13,321)
Net assets 336,985 348,642
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 9 162,452 162,452
Profit and loss account 173,533 185,190
Shareholders' funds 336,985 348,642
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Amit Dilharlal Devraj Shah
Director
Approved by the board on 11 September 2024
Dilton Stores Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rents receivable on the investment property of the company.
Investment property
Investment property is included at fair value. Gains/losses are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rates expected to apply when properties are sold.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Investments
Other
investments
£
Cost
At 1 January 2023 1,200,000
Additions 216,980
At 31 December 2023 1,416,980
The above property is shown at market value, which in the opinion of directors is the fair value.
4 Debtors 2023 2022
£ £
Trade debtors 29,600 29,600
5 Creditors: amounts falling due within one year 2023 2022
£ £
Directors Current Accounts 190,008 74,026
Amounts owed to group undertakings and undertakings in which the company has a participating interest 900,100 788,000
Other creditors 1,200 1,200
1,091,308 863,226
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 11,728 15,561
7 Deffered Tax 2023 2022
£ £
Deferred tax - B/fwd 13,321 13,321
Deferred tax - Charged to the profit and loss account - -
13,321 13,321
8 Distributable rederves 2023 2022
£ £
Distributable reserves 174,533 172,041
Non-distributable reserves 162,452 162,452
-
336,985 334,493
9 Revaluation reserve 2023 2022
£ £
At 1 January 2023 162,452 162,452
At 31 December 2023 162,452 162,452
10 Related party transactions
Included in Amounts owed to group undertakings is the amount of £900,100 (2022: £788,000) due to Double Value Limited, Pearce House Capital Ltd, Padmavati Properties Ltd a related company by virtue of common directorship and in which the directors hold a material interest. There are no terms as to interest or repayment in respect of this amount.
11 Other information
Dilton Stores Limited is a private company limited by shares and incorporated in England. Its registered office is:
Laxmi House
2-b Draycott Avenue
Kenton Harrow
Middlesex
HA3 0BU
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