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Registration number: 08859575

DB Innkeepers Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

DB Innkeepers Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

DB Innkeepers Limited

Company Information

Director

Mr M Downie

Registered office

Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

DB Innkeepers Limited

(Registration number: 08859575)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,100,000

1,100,000

Current assets

 

Cash at bank and in hand

 

384

643

Creditors: Amounts falling due within one year

5

(357,892)

(322,892)

Net current liabilities

 

(357,508)

(322,249)

Total assets less current liabilities

 

742,492

777,751

Creditors: Amounts falling due after more than one year

5

(146,627)

(168,563)

Provisions for liabilities

(46,404)

(46,404)

Net assets

 

549,461

562,784

Capital and reserves

 

Called up share capital

6

350

350

Share premium reserve

454,717

454,717

Retained earnings

94,394

107,717

Shareholders' funds

 

549,461

562,784

For the financial year ending 31 January 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.

 

DB Innkeepers Limited

(Registration number: 08859575)
Balance Sheet as at 31 January 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 30 October 2024
 


Mr M Downie
Director

 

DB Innkeepers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

The principal place of business is:
The Grange
103-104 Grange Road
London
SE1 3BW

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,

 

DB Innkeepers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

3

Staff numbers

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

4

Investment properties

2024
£

At 1 February

1,100,000

At 31 January

1,100,000

The director believes the investment properties are held at deemed market value at the year end.

There has been no valuation of investment property by an independent valuer.

 

DB Innkeepers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,088

2,088

Accruals and deferred income

1,700

1,700

Other creditors

354,104

319,104

357,892

322,892

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

146,627

168,563

Creditors include bank loans and overdrafts of £146,627 (2023 - £168,563), which are secured by a fixed and floating charge over the property.

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

350

350

350

350

       

7

Reserves

The profit and loss reserves includes £197,287 (2023 - £197,287) of non-distributable reserves, which relates to unrealised gains on the investment property after deferred tax provision.

 

DB Innkeepers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

146,627

168,563

9

Related party transactions

Summary of transactions with other related parties

Mr G Bearham and Mr M Downie are shareholders in The Grange Bermondsey Limited and DB Innkeepers Limited. DB Innkeepers Limited owns the property from which The Grange Bermondsey Limited runs its trade.
 
At the year end the company owed The Grange Bermondsey Limited £330,385 (2023 - £259,385), which is included in Other creditors.

At the year end the company owed £23,719 (2023 - £23,719) to Mr M Downie, which is included in Other creditors.

 

10

Control

The ultimate controlling party is the director, Mr M Downie by virtue of his shareholding in the company.