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Company Registration No. 07729658 (England and Wales)
DFT Property Management Limited Unaudited accounts for the year ended 31 December 2023
DFT Property Management Limited Unaudited accounts Contents
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DFT Property Management Limited Company Information for the year ended 31 December 2023
Director
Andre John Argus MISSO
Company Number
07729658 (England and Wales)
Registered Office
Office G14, Moulton Park Business Centre Redhouse Road Northampton Northamptonshire NN3 6AQ United Kingdom
Accountants
The Tax Shop Group Ltd Moulton Park Business Centre Redhouse Road Northampton Northamptonshire NN3 6AQ
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DFT Property Management Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
325 
Investments
35,000 
35,000 
35,000 
35,325 
Current assets
Inventories
1,014,285 
747,221 
Debtors
252,078 
290,247 
Cash at bank and in hand
1,399 
765 
1,267,762 
1,038,233 
Creditors: amounts falling due within one year
(1,268,480)
(990,446)
Net current (liabilities)/assets
(718)
47,787 
Total assets less current liabilities
34,282 
83,112 
Creditors: amounts falling due after more than one year
(15,010)
(24,359)
Net assets
19,272 
58,753 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
19,172 
58,653 
Shareholders' funds
19,272 
58,753 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 November 2024 and were signed on its behalf by
Andre John Argus MISSO Director Company Registration No. 07729658
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DFT Property Management Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
DFT Property Management Limited is a private company, limited by shares, registered in England and Wales, registration number 07729658. The registered office is Office G14, Moulton Park Business Centre, Redhouse Road, Northampton, Northamptonshire, NN3 6AQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
2.1 Basis of preparation
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:
2.2 Revenue
Turnover represents the value of services provided under the contract and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3 Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% straight line
Computer equipment
50% straight line
Other tangible fixed assets
25% straight line
2.4 Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
2.5 Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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DFT Property Management Limited Notes to the Accounts for the year ended 31 December 2023
2.6 Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amount, and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.7 Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
2.8 Finance costs
Finance costs are charged to profit and loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument
2.9 Pension costs
The company operates a defined contribution scheme for the benefit of its employees. A defined pension plan is one which the company pays the contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. Contributions payable are recognised in the profit and loss account when due. Amounts not paid are recognised as accruals in the balance sheet at the period end. The assets of the plan are held separately from the company in independently administered funds.
2.10 Borrowing costs
All borrowing costs are recognised in profit and loss in the year in which they are incurred.
2.11 Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account the relevant risks and uncertainties.
2.14 Leased assets and hire purchase
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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DFT Property Management Limited Notes to the Accounts for the year ended 31 December 2023
2.12 Current and deferred taxation
The tax expense for the year comprise current and deferred tax. Tax is recognised in profit and loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2023
29,734 
At 31 December 2023
29,734 
Depreciation
At 1 January 2023
29,409 
Charge for the year
325 
At 31 December 2023
29,734 
Net book value
At 31 December 2023
- 
At 31 December 2022
325 
5
Pension commitments
The company operated a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund amounted to £1,800 (2022: £1,800).
6
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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