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REGISTERED NUMBER: 13854894 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

DOUGLAS & DAVIES PROPERTY LTD

DOUGLAS & DAVIES PROPERTY LTD (REGISTERED NUMBER: 13854894)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DOUGLAS & DAVIES PROPERTY LTD

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTORS: BAF Douglas
Ms H E Davies



REGISTERED OFFICE: 128 Goetre Fawr
Radyr
Cardiff
CF15 8EU



REGISTERED NUMBER: 13854894 (England and Wales)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



BANKERS: Tide
5th Floor
1 Appold Street
London
EC2A 2UT



SOLICITORS: Howells
72-74 Cardiff Road
Caerphilly
Mid Glamorgan
CF83 1JQ

DOUGLAS & DAVIES PROPERTY LTD (REGISTERED NUMBER: 13854894)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,445 106
Investment property 5 246,688 247,703
248,133 247,809

CURRENT ASSETS
Debtors 6 172 133
Cash at bank 3,620 3,300
3,792 3,433
CREDITORS
Amounts falling due within one year 7 87,383 86,515
NET CURRENT LIABILITIES (83,591 ) (83,082 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

164,542

164,727

CREDITORS
Amounts falling due after more than one year 8 165,995 165,995
NET LIABILITIES (1,453 ) (1,268 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,553 ) (1,368 )
(1,453 ) (1,268 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

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.

DOUGLAS & DAVIES PROPERTY LTD (REGISTERED NUMBER: 13854894)

BALANCE SHEET - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:




BAF Douglas - Director



Ms H E Davies - Director


DOUGLAS & DAVIES PROPERTY LTD (REGISTERED NUMBER: 13854894)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024


1. STATUTORY INFORMATION

Douglas & Davies Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company meets its day to day working capital requirements through the support of a loan from the directors. The directors will continue to support the company until sufficient profitability is achieved and on this basis considers it appropriate to prepare accounts on a going concern basis.

Turnover
Turnover represents the total of rent and other income receivable by the company for the rental of own property for the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Investment property
The company carries investment property at fair value with changes in fair value being recognised in the Income Statement. Any such changes together with the related deferred tax are transferred to a Revaluation Reserve.

Financial instruments
Bank and other loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

DOUGLAS & DAVIES PROPERTY LTD (REGISTERED NUMBER: 13854894)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 132
Additions 1,706
At 31 January 2024 1,838
DEPRECIATION
At 1 February 2023 26
Charge for year 367
At 31 January 2024 393
NET BOOK VALUE
At 31 January 2024 1,445
At 31 January 2023 106

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 247,703
Disposals (1,015 )
At 31 January 2024 246,688
NET BOOK VALUE
At 31 January 2024 246,688
At 31 January 2023 247,703

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 172 133

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 87,383 86,515

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 165,995 165,995

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 165,995 165,995

DOUGLAS & DAVIES PROPERTY LTD (REGISTERED NUMBER: 13854894)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 165,995 165,995

The company's investment property is pledged as security against bank loan borrowings.

10. RELATED PARTY DISCLOSURES

Included within other creditors are loans from companies which are under common control amounting to £186 (2023: £Nil). This loan which is unsecured is provided interest free and has no agreed terms of repayment.