6 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-06 Sage Accounts Production Advanced 2023 - FRS102_2023 1,112,166 1,686,795 192,400 8,335 2,614,896 2,614,896 1,112,166 1,672,019 206,885 1,878,904 xbrli:pure xbrli:shares iso4217:GBP 00479089 2023-04-06 2024-04-05 00479089 2024-04-05 00479089 2023-04-05 00479089 2022-04-06 2023-04-05 00479089 2023-04-05 00479089 2022-04-05 00479089 core:FurnitureFittings 2023-04-06 2024-04-05 00479089 core:MotorVehicles 2023-04-06 2024-04-05 00479089 bus:OrdinaryShareClass1 2023-04-06 2024-04-05 00479089 bus:Director3 2023-04-06 2024-04-05 00479089 core:WithinOneYear 2024-04-05 00479089 core:WithinOneYear 2023-04-05 00479089 core:FurnitureFittings 2023-04-05 00479089 core:MotorVehicles 2023-04-05 00479089 core:LandBuildings 2024-04-05 00479089 core:FurnitureFittings 2024-04-05 00479089 core:MotorVehicles 2024-04-05 00479089 core:DeferredTaxation 2023-04-06 2024-04-05 00479089 core:AfterOneYear 2024-04-05 00479089 core:AfterOneYear 2023-04-05 00479089 core:ShareCapital 2024-04-05 00479089 core:ShareCapital 2023-04-05 00479089 core:SharePremium 2024-04-05 00479089 core:SharePremium 2023-04-05 00479089 core:RevaluationReserve 2024-04-05 00479089 core:RevaluationReserve 2023-04-05 00479089 core:RetainedEarningsAccumulatedLosses 2024-04-05 00479089 core:RetainedEarningsAccumulatedLosses 2023-04-05 00479089 core:CostValuation core:Non-currentFinancialInstruments 2023-04-05 00479089 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-04-05 00479089 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-04-05 00479089 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-04-05 00479089 core:CostValuation core:Non-currentFinancialInstruments 2024-04-05 00479089 core:Non-currentFinancialInstruments 2024-04-05 00479089 core:Non-currentFinancialInstruments 2023-04-05 00479089 core:AcceleratedTaxDepreciationDeferredTax 2024-04-05 00479089 core:AcceleratedTaxDepreciationDeferredTax 2023-04-05 00479089 core:RevaluationPropertyPlantEquipmentDeferredTax 2024-04-05 00479089 core:RevaluationPropertyPlantEquipmentDeferredTax 2023-04-05 00479089 core:LandBuildings 2023-04-05 00479089 core:FurnitureFittings 2023-04-05 00479089 core:MotorVehicles 2023-04-05 00479089 core:DeferredTaxation 2023-04-05 00479089 core:DeferredTaxation 2024-04-05 00479089 bus:SmallEntities 2023-04-06 2024-04-05 00479089 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 00479089 bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 00479089 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 00479089 bus:FullAccounts 2023-04-06 2024-04-05 00479089 bus:OrdinaryShareClass1 2024-04-05 00479089 bus:OrdinaryShareClass1 2023-04-05 00479089 core:ComputerEquipment 2024-04-05 00479089 core:ComputerEquipment 2023-04-05 00479089 core:ComputerEquipment 2023-04-06 2024-04-05 00479089 bus:Director1 2023-04-06 2024-04-05
COMPANY REGISTRATION NUMBER: 00479089
D S ESTATES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
5 April 2024
D S ESTATES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 5 APRIL 2024
CONTENTS
PAGE
Statement of financial position
1
Notes to the financial statements
3
D S ESTATES LIMITED
STATEMENT OF FINANCIAL POSITION
5 April 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
16,704,377
16,714,343
Investments
6
2,614,896
1,112,166
---------------
---------------
19,319,273
17,826,509
CURRENT ASSETS
Debtors
7
90,775
867,403
Cash at bank and in hand
179,100
450,557
----------
-------------
269,875
1,317,960
CREDITORS: amounts falling due within one year
8
343,797
418,219
----------
-------------
NET CURRENT (LIABILITIES)/ASSETS
( 73,922)
899,741
---------------
---------------
TOTAL ASSETS LESS CURRENT LIABILITIES
19,245,351
18,726,250
CREDITORS: amounts falling due after more than one year
9
10,100
10,100
PROVISIONS
Taxation including deferred tax
10
1,878,904
1,672,019
---------------
---------------
NET ASSETS
17,356,347
17,044,131
---------------
---------------
D S ESTATES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
5 April 2024
2024
2023
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
12
75,000
75,000
Share premium account
15,000
15,000
Revaluation reserve
7,495,955
7,495,955
Profit and loss account
9,770,392
9,458,176
---------------
---------------
SHAREHOLDERS FUNDS
17,356,347
17,044,131
---------------
---------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 October 2024 , and are signed on behalf of the board by:
Mrs F Simpson
Director
Company registration number: 00479089
D S ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 5 APRIL 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgement that management has made in the process of applying the entity's accounting policies and that has had the most significant effect on the amounts recognised in the financial statements is the estimate of the fair value of the investment property. This estimate has been made by considering the return made on investment in year and the market value.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent net of Value Added Tax where applicable and the sale of property. Revenue from rent or from the sale of a development is recognised when the significant risks and rewards of ownership of the property or lease have transferred to the buyer or leasee, usually on exchange of contracts or signing of a lease and the amount of revenue can be measured reliably and it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Motor vehicle
-
25% reducing balance
Office equipment
-
15% reducing balance and 3 years straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 6 (2023: 5 ).
5. TANGIBLE ASSETS
Land and buildings
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 6 April 2023 and 5 April 2024
16,658,027
405,799
18,397
89,342
17,171,565
---------------
----------
---------
---------
---------------
Depreciation
At 6 April 2023
362,430
5,749
89,043
457,222
Charge for the year
6,505
3,162
299
9,966
---------------
----------
---------
---------
---------------
At 5 April 2024
368,935
8,911
89,342
467,188
---------------
----------
---------
---------
---------------
Carrying amount
At 5 April 2024
16,658,027
36,864
9,486
16,704,377
---------------
----------
---------
---------
---------------
At 5 April 2023
16,658,027
43,369
12,648
299
16,714,343
---------------
----------
---------
---------
---------------
The investment properties were valued by the directors on the 5 April 2024, using the return on investment and the estimated market value to reach a fair value for these properties. On this basis the directors estimate there has been no significant change in the valuations during the period.
6. INVESTMENTS
Other investments other than loans
£
Cost
At 6 April 2023
1,112,166
Additions
1,686,795
Disposals
( 192,400)
Revaluations
8,335
-------------
At 5 April 2024
2,614,896
-------------
Impairment
At 6 April 2023 and 5 April 2024
-------------
Carrying amount
At 5 April 2024
2,614,896
-------------
At 5 April 2023
1,112,166
-------------
7. DEBTORS
2024
2023
£
£
Trade debtors
53,442
49,804
Prepayments and accrued income
3,723
6,332
Directors loan account
12,990
809,162
Other debtors
20,620
2,105
---------
----------
90,775
867,403
---------
----------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,267
Accruals and deferred income
59,536
76,045
Corporation tax
254,206
242,410
Social security and other taxes
25,961
90,403
Other creditors
4,094
4,094
----------
----------
343,797
418,219
----------
----------
9. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Other creditors
10,100
10,100
---------
---------
10. PROVISIONS
Deferred tax (note 11)
£
At 6 April 2023
1,672,019
Additions
206,885
-------------
At 5 April 2024
1,878,904
-------------
11. DEFERRED TAX
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 10)
1,878,904
1,672,019
-------------
-------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
4,915
6,656
Revaluation of tangible assets
1,873,989
1,665,363
-------------
-------------
1,878,904
1,672,019
-------------
-------------
12. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
75,000
75,000
75,000
75,000
---------
---------
---------
---------
13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
Mr D C Simpson has an unsecured with the company which is repayable on demand. At the year end Mr D C Simpson owed the company £9,551 (2023: £809,162) which has been repaid following the year end. The maximum loan from the company during the year was £809,162 (2023: £809,162).