Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Colin Bury 19/01/2012 Charlotte Mortimer 01/01/2013 Natalie Taylor 14/08/2023 14 May 2024 The principal activity of the company continued to be that of a letting agent. 07916968 2023-12-31 07916968 bus:Director1 2023-12-31 07916968 bus:Director2 2023-12-31 07916968 bus:Director3 2023-12-31 07916968 2022-12-31 07916968 core:CurrentFinancialInstruments 2023-12-31 07916968 core:CurrentFinancialInstruments 2022-12-31 07916968 core:Non-currentFinancialInstruments 2023-12-31 07916968 core:Non-currentFinancialInstruments 2022-12-31 07916968 core:ShareCapital 2023-12-31 07916968 core:ShareCapital 2022-12-31 07916968 core:RetainedEarningsAccumulatedLosses 2023-12-31 07916968 core:RetainedEarningsAccumulatedLosses 2022-12-31 07916968 core:Goodwill 2022-12-31 07916968 core:Goodwill 2023-12-31 07916968 core:OtherPropertyPlantEquipment 2022-12-31 07916968 core:OtherPropertyPlantEquipment 2023-12-31 07916968 2023-01-01 2023-12-31 07916968 bus:FilletedAccounts 2023-01-01 2023-12-31 07916968 bus:SmallEntities 2023-01-01 2023-12-31 07916968 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07916968 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07916968 bus:Director1 2023-01-01 2023-12-31 07916968 bus:Director2 2023-01-01 2023-12-31 07916968 bus:Director3 2023-01-01 2023-12-31 07916968 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 07916968 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 07916968 2022-01-01 2022-12-31 07916968 core:Goodwill 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 07916968 (England and Wales)

DISCOVER PROPERTY MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

DISCOVER PROPERTY MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

DISCOVER PROPERTY MANAGEMENT LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DISCOVER PROPERTY MANAGEMENT LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DIRECTORS Colin Bury
Charlotte Mortimer
Natalie Taylor
REGISTERED OFFICE Green Hill House
Green Street
Darwen
BB3 1PP
United Kingdom
COMPANY NUMBER 07916968 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
DISCOVER PROPERTY MANAGEMENT LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
DISCOVER PROPERTY MANAGEMENT LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 58,498 67,664
Tangible assets 4 7,513 7,527
66,011 75,191
Current assets
Debtors 5 29,928 22,898
Cash at bank and in hand 116,910 99,929
146,838 122,827
Creditors: amounts falling due within one year 6 ( 183,002) ( 207,906)
Net current liabilities (36,164) (85,079)
Total assets less current liabilities 29,847 (9,888)
Creditors: amounts falling due after more than one year 7 ( 56,145) ( 39,398)
Provision for liabilities ( 1,427) 0
Net liabilities ( 27,725) ( 49,286)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 27,825 ) ( 49,386 )
Total shareholders' deficit ( 27,725) ( 49,286)

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Discover Property Management Limited (registered number: 07916968) were approved and authorised for issue by the Board of Directors on 14 May 2024. They were signed on its behalf by:

Charlotte Mortimer
Director
DISCOVER PROPERTY MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DISCOVER PROPERTY MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Discover Property Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Green Hill House, Green Street, Darwen, BB3 1PP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 8 9

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2023 91,664 91,664
At 31 December 2023 91,664 91,664
Accumulated amortisation
At 01 January 2023 24,000 24,000
Charge for the financial year 9,166 9,166
At 31 December 2023 33,166 33,166
Net book value
At 31 December 2023 58,498 58,498
At 31 December 2022 67,664 67,664

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 17,467 17,467
Additions 1,728 1,728
Disposals ( 300) ( 300)
At 31 December 2023 18,895 18,895
Accumulated depreciation
At 01 January 2023 9,940 9,940
Charge for the financial year 1,579 1,579
Disposals ( 137) ( 137)
At 31 December 2023 11,382 11,382
Net book value
At 31 December 2023 7,513 7,513
At 31 December 2022 7,527 7,527

5. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 23,524 0
Other debtors 6,404 22,898
29,928 22,898

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,045 5,818
Trade creditors 24,697 14,871
Amounts owed to Group undertakings 100 31,918
Taxation and social security 34,021 48,028
Other creditors 114,139 107,271
183,002 207,906

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 56,145 39,398

8. Financial commitments

Commitments

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 6,001 9,024

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Mr Colin Bury 18,874 18,874

At the balance sheet date, amounts owed by the directors totaled £18,874 (2022: £18,874). This balance is repayable on demand.

Other related party transactions

At the balance sheet date, amounts owed by other related parties totaled £23,424 (2022: £31,918). This balance is repayable on demand.