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REGISTERED NUMBER: 02122277 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 30 June 2024

for

D.K. Property Developments Limited

D.K. Property Developments Limited (Registered number: 02122277)

Contents of the Financial Statements
For The Year Ended 30 June 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


D.K. Property Developments Limited

Company Information
For The Year Ended 30 June 2024







DIRECTOR: D Wadhams





REGISTERED OFFICE: 10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET





REGISTERED NUMBER: 02122277 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

D.K. Property Developments Limited (Registered number: 02122277)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,005,000 4,005,000

CURRENT ASSETS
Debtors 5 8,125 4,250
Cash at bank 21,690 59,223
29,815 63,473
CREDITORS
Amounts falling due within one year 6 727,712 795,272
NET CURRENT LIABILITIES (697,897 ) (731,799 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,307,103

3,273,201

PROVISIONS FOR LIABILITIES 7 483,571 483,571
NET ASSETS 2,823,532 2,789,630

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 1,749,591 1,749,591
Retained earnings 1,073,841 1,039,939
SHAREHOLDERS' FUNDS 2,823,532 2,789,630

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 30 August 2024 and were signed by:





D Wadhams - Director


D.K. Property Developments Limited (Registered number: 02122277)

Notes to the Financial Statements
For The Year Ended 30 June 2024


1. STATUTORY INFORMATION

D.K. Property Developments 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.

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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

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.

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

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 statement of financial position date.

D.K. Property Developments Limited (Registered number: 02122277)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 4,005,000
NET BOOK VALUE
At 30 June 2024 4,005,000
At 30 June 2023 4,005,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2021 2,533,162
Valuation in 2023 (300,000 )
Cost 1,771,838
4,005,000

If Investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,771,838 1,771,838

Investment properties were valued on an open market basis on 30 June 2023 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,377 1,450
Other debtors 3,748 2,800
8,125 4,250

D.K. Property Developments Limited (Registered number: 02122277)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 500
Amounts owed to group undertakings 687,757 735,680
Taxation and social security 31,274 50,071
Other creditors 8,681 9,021
727,712 795,272

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 483,571 483,571

Deferred
tax
£   
Balance at 1 July 2023 483,571
Balance at 30 June 2024 483,571

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Revaluation
reserve
£   
At 1 July 2023
and 30 June 2024 1,749,591

10. CONTINGENT LIABILITIES

These is a charge over the assets of the company to secure the borrowings of associated company A.J. Wadhams & Co Limited. At the year end the amounts secured totalled £2,457,180 (2023 £2,970,000).