REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended |
30 June 2024 |
for |
D&R CAPITAL LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended |
30 June 2024 |
for |
D&R CAPITAL LTD |
D&R CAPITAL LTD (REGISTERED NUMBER: 12679497) |
Contents of the Financial Statements |
For The Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
D&R CAPITAL LTD |
Company Information |
For The Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
8 Eastway |
Sale |
Cheshire |
M33 4DX |
D&R CAPITAL LTD (REGISTERED NUMBER: 12679497) |
Abridged Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 5 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Non-distributable reserve | 7 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their 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. |
D&R CAPITAL LTD (REGISTERED NUMBER: 12679497) |
Abridged Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
D&R CAPITAL LTD (REGISTERED NUMBER: 12679497) |
Notes to the Financial Statements |
For The Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
D&R Capital Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Rental income |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Rental income is recognised on a receivables basis in accordance with the terms of the tenants lease agreement. Amounts of rental income due but not paid are recognised within trade debtors and presented within current assets. Rental income received in advance is presented as deferred income within creditors falling due within one year. |
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. |
Investment property is recorded at fair value at each reporting date with fair value gains and losses being recorded in the profit and loss account. Deferred tax consequences in respect of fair value adjustments on investment property are also recorded in profit and loss account. Gains, net of deferred tax, are non-distributable to the shareholders and are presented in a separate component of equity in the balance sheet. |
Financial instruments |
A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit or loss. All other investments are subsequently measured at cost less impairment. |
Debtors and creditors which fall due within one year are recorded in the financial statements at transaction price and subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded in profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt. |
Debtors do not carry interest and are stated at their nominal value. |
Trade creditors are not interest-bearing and are stated at their nominal value. |
Intra-group debtors are repayable on demand and are interest free. |
Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. |
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised. |
D&R CAPITAL LTD (REGISTERED NUMBER: 12679497) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Financial instruments |
Financial Instruments are classified and accounted for according to the substance of the transaction as either a financial asset, liability or equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after all liabilities have been deducted. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
Additions |
Revaluations | 49,298 |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
FRS 102, Section 16 'Investment Property' requires the company to remeasure investment property to fair value at each reporting date with changes in fair value being recorded in profit or loss together with any associated deferred tax consequences (which are also recorded in profit or loss). In the absence of a fair valuation of these properties, it is not possible to state the investment properties at their fair value at the balance sheet date. |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
30.6.24 | 30.6.23 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 386,498 | 223,900 |
D&R CAPITAL LTD (REGISTERED NUMBER: 12679497) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.24 | 30.6.23 |
£ | £ |
Bank loans |
The bank loans are secured over the company's investment properties, by way of a fixed charge. |
7. | RESERVES |
Non-distributable |
reserve |
£ |
Transfer | 39,931 |
At 30 June 2024 |