REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
Deekroo Ventures Ltd |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
Deekroo Ventures Ltd |
Deekroo Ventures Ltd (Registered number: 13277381) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Deekroo Ventures Ltd |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
21 Sherburn Terrace |
Consett |
Co. Durham |
DH8 6ND |
Deekroo Ventures Ltd (Registered number: 13277381) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
Deekroo Ventures Ltd (Registered number: 13277381) |
Balance Sheet - continued |
31 March 2024 |
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 |
Deekroo Ventures Ltd (Registered number: 13277381) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Deekroo Ventures Ltd is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable from the letting of its investment properties. Turnover is recognised by reference to the rental periods of the payments received. Any rental payments received upfront which span the balance sheet date are deferred based on the rental periods to which the payments relate. |
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. |
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 balance sheet date. |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
GOING CONCERN |
These financial statements have been prepared on a going concern basis. The company's balance sheet shows net liabilities but any operational and day to day cash flow needs will be supported by the company's director. In the long term the director believes that once both properties are generating income the company will return to a solvent position. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Deekroo Ventures Ltd (Registered number: 13277381) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Additions |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
During the year the company purchased a further 2 investment properties. The director has considered the change in market value between purchase dates and the 31 March 2024 and does not believe any fair value re-valuation adjustments are required at the balance sheet date. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans |
Deekroo Ventures Ltd (Registered number: 13277381) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The interest-only bank loan is secured by way of a fixed charge upon the investment property to which it relates. The director is also a named guarantor of the loan. |
9. | RELATED PARTY DISCLOSURES |
Included within other creditors is a loan from Disha Energy Consultants Limited, a company registered in England & Wales and under common control. At 31 March 2024 the balance of the loan was £156,167. Interest on the loan is charged at a rate of 2.5% and accrued interest recognised in the profit and loss account during the period amounted to £1,017. |