Company registration number 11680334 (England and Wales)
D4 PROPERTY MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
D4 PROPERTY MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
D4 PROPERTY MANAGEMENT LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
FIXED ASSETS
Investment property
3
531,842
531,842
CURRENT ASSETS
Cash at bank and in hand
8,415
4,543
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
4
(149,740)
(147,724)
NET CURRENT LIABILITIES
(141,325)
(143,181)
TOTAL ASSETS LESS CURRENT LIABILITIES
390,517
388,661
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
5
(397,443)
(397,418)
NET LIABILITIES
(6,926)
(8,757)
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss reserves
(6,927)
(8,758)
TOTAL EQUITY
(6,926)
(8,757)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
D4 PROPERTY MANAGEMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 17 October 2024
Debra Mayfield
Director
Company registration number 11680334 (England and Wales)
D4 PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
ACCOUNTING POLICIES
Company information
D4 Property Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 High Street, Chalfont St. Peter, Gerrards Cross, SL9 9QE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The accounts show that the company had net liabilities at the balance sheet date. The directortrue has therefore had to consider the appropriateness of the going concern basis.
The company has been able to finance its operations largely because of support from the director.and other creditors. Were this support not available, the company may not be able to continue trading.
The director is confident that the company will be able to meet its obligations for at least the next twelve months with the continuing support of these creditors. She therefore considers it appropriate to prepare the accounts on the going concern basis.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for the lease of commercial property . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
D4 PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
ACCOUNTING POLICIES
(Continued)
- 4 -
1.5
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.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2
EMPLOYEES
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
D4 PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
3
INVESTMENT PROPERTY
2023
£
Fair value
At 1 December 2022 and 30 November 2023
531,842
Investment property comprises of 10 Setley Way, Bracknell, Berkshire, RG12 9FF. The property has been valued by the director at the balance sheet date on the basis of open market value, by reference to market evidence of transaction prices for similar properties.
4
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
£
£
Bank loans
12,039
12,039
Other creditors
137,701
135,685
149,740
147,724
The bank loans are secured over the company's investment property.
5
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023
2022
£
£
Bank loans and overdrafts
397,443
397,418
The bank loans are secured over the company's investment property.
6
DIRECTORS' TRANSACTIONS
Included within creditors is an amount of £133,360 (2022 - £134,310) due to the director. This loan is interest free.