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Registration number: 01035289

D.A.R.Estates Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 4 February 2024

 

D.A.R.Estates Company Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

D.A.R.Estates Company Limited

Company Information

Director

D Batten

Registered office

3rd Floor
Lawford House
Albert Place
London
N3 1QA

Accountants

Sterlings Ltd
Chartered Accountants
Lawford House
Albert Place
London
N3 1QA

 

D.A.R.Estates Company Limited

(Registration number: 01035289)
Balance Sheet as at 4 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1

1

Investment property

6

225,000

235,000

 

225,001

235,001

Current assets

 

Debtors

7

107

3,885

Cash at bank and in hand

 

14,459

29,253

 

14,566

33,138

Creditors: Amounts falling due within one year

8

(2,433)

(5,116)

Net current assets

 

12,133

28,022

Total assets less current liabilities

 

237,134

263,023

Provisions for liabilities

(55,535)

(58,035)

Net assets

 

181,599

204,988

Capital and reserves

 

Called up share capital

9

100

100

Profit and loss account

181,499

204,888

Shareholders' funds

 

181,599

204,988

For the financial year ending 4 February 2024 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.

 

D.A.R.Estates Company Limited

(Registration number: 01035289)
Balance Sheet as at 4 February 2024

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.

Approved and authorised by the director on 22 October 2024
 

.........................................
D Batten
Director

 

D.A.R.Estates Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 4 February 2024

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:
3rd Floor
Lawford House
Albert Place
London
N3 1QA

These financial statements were authorised for issue by the director on 22 October 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

D.A.R.Estates Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 4 February 2024

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.

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

25% on reducing balance

Computer equipment

25% on reducing balance

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties are measured at fair value. Investment property valuations are based on an open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair value of investment properties are included in the statement Profit and Loss in the period in which they arise.

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.

 

D.A.R.Estates Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 4 February 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

1,173

3,916

Deferred taxation

Arising from changes in tax rates and laws

(2,500)

9,179

Tax (receipt)/expense in the profit and loss account

(1,327)

13,095

Deferred tax

 

D.A.R.Estates Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 4 February 2024

5

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Total
£

Cost or valuation

At 5 February 2023

15,790

3,854

19,644

At 4 February 2024

15,790

3,854

19,644

Depreciation

At 5 February 2023

15,789

3,854

19,643

At 4 February 2024

15,789

3,854

19,643

Carrying amount

At 4 February 2024

1

-

1

At 4 February 2023

1

-

1

6

Investment properties

2024
£

At 5 February 2023

235,000

Disposals

(10,000)

At 4 February 2024

225,000

If freehold properties had not been revalued, they would have been included at the historical cost of £2,861 (2023: £2,861).

Freehold investment properties were valued on open market basis on 4 February 2024 by the director of the company.

7

Debtors

Current

2024
£

2023
£

Prepayments and accrued income

107

191

Other debtors

-

3,694

 

107

3,885

 

D.A.R.Estates Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 4 February 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,173

3,916

Accruals and deferred income

1,260

1,200

2,433

5,116

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Reserves

The amount of Retained Earnings not being distributable, at the balance sheet date, amounted to £166,604 (2023 - £174,104).