Registered number
11815168
DS Property Lettings Limited
Filleted Accounts
28 February 2024
DS Property Lettings Limited
Registered number: 11815168
Balance Sheet
as at 28 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 730,017 580,318
Current assets
Debtors 4 792 669
Cash at bank and in hand 49,064 263,669
49,856 264,338
Creditors: amounts falling due within one year 5 (425,565) (419,333)
Net current liabilities (375,709) (154,995)
Total assets less current liabilities 354,308 425,323
Creditors: amounts falling due after more than one year 6 (135,138) (391,868)
Net assets 219,170 33,455
Capital and reserves
Revaluation reserve 7 37,006 -
Profit and loss account 182,164 33,455
Shareholders' funds 219,170 33,455
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Wozniak
Director
Approved by the board on 28 October 2024
DS Property Lettings Limited
Notes to the Accounts
for the year ended 28 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2023 579,750 1,671 581,421
Surplus on revaluation 150,250 - 150,250
At 28 February 2024 730,000 1,671 731,671
Depreciation
At 1 March 2023 - 1,103 1,103
Charge for the year - 551 551
At 28 February 2024 - 1,654 1,654
Net book value
At 28 February 2024 730,000 17 730,017
At 28 February 2023 579,750 568 580,318
4 Debtors 2024 2023
£ £
Other debtors 792 669
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 11,408 10,260
Other creditors 414,157 409,073
425,565 419,333
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 135,138 391,868
7 Revaluation reserve 2024 2023
£ £
Deferred taxation arising on the revaluation of land and buildings 37,006 -
At 28 February 2024 37,006 -
8 Other information
DS Property Lettings Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Barn, Bangle Farm
Stoney Lane, Chantry
Frome
BA11 3LH
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