Deluxe Property Solutions Ltd 11726965 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is property rental. Digita Accounts Production Advanced 6.30.9574.0 true true 11726965 2023-01-01 2023-12-31 11726965 2023-12-31 11726965 bus:OrdinaryShareClass1 2023-12-31 11726965 core:CurrentFinancialInstruments 2023-12-31 11726965 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11726965 core:Non-currentFinancialInstruments 2023-12-31 11726965 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 11726965 core:FurnitureFittings 2023-12-31 11726965 bus:SmallEntities 2023-01-01 2023-12-31 11726965 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11726965 bus:FullAccounts 2023-01-01 2023-12-31 11726965 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11726965 bus:RegisteredOffice 2023-01-01 2023-12-31 11726965 bus:Director2 2023-01-01 2023-12-31 11726965 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 11726965 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11726965 core:FurnitureFittings 2023-01-01 2023-12-31 11726965 countries:EnglandWales 2023-01-01 2023-12-31 11726965 2022-12-31 11726965 core:FurnitureFittings 2022-12-31 11726965 2022-01-01 2022-12-31 11726965 2022-12-31 11726965 bus:OrdinaryShareClass1 2022-12-31 11726965 core:CurrentFinancialInstruments 2022-12-31 11726965 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 11726965 core:Non-currentFinancialInstruments 2022-12-31 11726965 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 11726965 core:FurnitureFittings 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11726965

Deluxe Property Solutions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Deluxe Property Solutions Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Deluxe Property Solutions Ltd

Company Information

Director

Mr Robert Charles Sinfield

Registered office

113-115 Belvoir Road
Coalville
Leicestershire
LE67 3PH

Accountants

Smart Accountants (Small Business Centre) Limited
113-115 Belvoir Road
Coalville
Leicestershire
LE67 3PH

 

Deluxe Property Solutions Ltd

(Registration number: 11726965)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

16,071

18,582

Investment property

5

1,291,226

1,022,518

 

1,307,297

1,041,100

Current assets

 

Debtors

6

30,812

(969)

Cash at bank and in hand

 

32,507

21,186

 

63,319

20,217

Creditors: Amounts falling due within one year

7

(275,427)

(190,891)

Net current liabilities

 

(212,108)

(170,674)

Total assets less current liabilities

 

1,095,189

870,426

Creditors: Amounts falling due after more than one year

7

(1,010,970)

(800,906)

Net assets

 

84,219

69,520

Capital and reserves

 

Called up share capital

8

100

100

Revaluation reserve

203,961

203,961

Retained earnings

(119,842)

(134,541)

Shareholders' funds

 

84,219

69,520

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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Deluxe Property Solutions Ltd

(Registration number: 11726965)
Balance Sheet as at 31 December 2023

Approved and authorised by the director on 26 September 2024
 

.........................................
Mr Robert Charles Sinfield
Director

 

Deluxe Property Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
113-115 Belvoir Road
Coalville
Leicestershire
LE67 3PH

These financial statements were authorised for issue by the director on 26 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Deluxe Property Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

15% on reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Deluxe Property Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 January 2023

26,559

26,559

Additions

279

279

At 31 December 2023

26,838

26,838

Depreciation

At 1 January 2023

7,977

7,977

Charge for the year

2,790

2,790

At 31 December 2023

10,767

10,767

Carrying amount

At 31 December 2023

16,071

16,071

At 31 December 2022

18,582

18,582

5

Investment properties

2023
£

At 1 January

1,022,518

Additions

268,708

At 31 December

1,291,226

There has been no valuation of investment property by an independent valuer.

 

Deluxe Property Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

2,896

(1,606)

Prepayments

1,171

637

Other debtors

26,745

-

 

30,812

(969)

 

Deluxe Property Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

9,980

7,303

Trade creditors

 

11,282

5,990

Accruals and deferred income

 

265

2,633

Other creditors

 

253,900

174,965

 

275,427

190,891

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

1,010,970

800,906

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

1,010,970

800,906

 

Deluxe Property Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,980

7,303