2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 57,400 48,006 3,000 102,406 102,406 57,400 xbrli:pure xbrli:shares iso4217:GBP SC242241 2023-07-01 2024-06-30 SC242241 2024-06-30 SC242241 2023-06-30 SC242241 2022-07-01 2023-06-30 SC242241 2023-06-30 SC242241 2022-06-30 SC242241 core:FurnitureFittings 2023-07-01 2024-06-30 SC242241 core:MotorVehicles 2023-07-01 2024-06-30 SC242241 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC242241 bus:Director1 2023-07-01 2024-06-30 SC242241 core:FurnitureFittings 2023-06-30 SC242241 core:MotorVehicles 2023-06-30 SC242241 core:FurnitureFittings 2024-06-30 SC242241 core:MotorVehicles 2024-06-30 SC242241 core:WithinOneYear 2024-06-30 SC242241 core:WithinOneYear 2023-06-30 SC242241 core:AfterOneYear 2023-06-30 SC242241 core:UKTax 2023-07-01 2024-06-30 SC242241 core:UKTax 2022-07-01 2023-06-30 SC242241 core:ShareCapital 2024-06-30 SC242241 core:ShareCapital 2023-06-30 SC242241 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC242241 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC242241 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 SC242241 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-06-30 SC242241 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-06-30 SC242241 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 SC242241 core:Non-currentFinancialInstruments 2024-06-30 SC242241 core:Non-currentFinancialInstruments 2023-06-30 SC242241 core:FurnitureFittings 2023-06-30 SC242241 core:MotorVehicles 2023-06-30 SC242241 bus:SmallEntities 2023-07-01 2024-06-30 SC242241 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC242241 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC242241 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC242241 bus:FullAccounts 2023-07-01 2024-06-30 SC242241 bus:OrdinaryShareClass1 2024-06-30 SC242241 bus:OrdinaryShareClass1 2023-06-30 SC242241 core:OfficeEquipment 2023-07-01 2024-06-30 SC242241 core:OfficeEquipment 2023-06-30 SC242241 core:OfficeEquipment 2024-06-30
COMPANY REGISTRATION NUMBER: SC242241
DWL Properties Ltd
Filleted Unaudited Financial Statements
30 June 2024
DWL Properties Ltd
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
20,723
20,669
Fixed Asset Investments
7
102,406
57,400
---------
--------
123,129
78,069
Current assets
Debtors
8
4,394
47,664
Cash at bank and in hand
7,193
-------
--------
4,394
54,857
Creditors: amounts falling due within one year
9
73,668
47,421
--------
--------
Net current (liabilities)/assets
( 69,274)
7,436
---------
--------
Total assets less current liabilities
53,855
85,505
Creditors: amounts falling due after more than one year
10
15,944
--------
--------
Net assets
53,855
69,561
--------
--------
Capital and reserves
Called up share capital
11
100
100
Profit and loss account
53,755
69,461
--------
--------
Shareholders funds
53,855
69,561
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DWL Properties Ltd
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 18 October 2024 , and are signed on behalf of the board by:
D.W. Longair
Director
Company registration number: SC242241
DWL Properties Ltd
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Stannergate House, 41 Dundee Road West, Broughty Ferry, Dundee, DD5 1NB.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Corporation 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
-
10% straight line
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Depreciation not charged in the year of purchase
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tax on profit
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
2,321
17,493
-------
--------
Tax on profit
2,321
17,493
-------
--------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 July 2023
2,102
32,933
3,739
38,774
Additions
5,889
5,889
-------
--------
-------
--------
At 30 June 2024
7,991
32,933
3,739
44,663
-------
--------
-------
--------
Depreciation
At 1 July 2023
1,996
13,379
2,730
18,105
Charge for the year
694
4,889
252
5,835
-------
--------
-------
--------
At 30 June 2024
2,690
18,268
2,982
23,940
-------
--------
-------
--------
Carrying amount
At 30 June 2024
5,301
14,665
757
20,723
-------
--------
-------
--------
At 30 June 2023
106
19,554
1,009
20,669
-------
--------
-------
--------
Tangible assets held at valuation
7. Fixed asset investments
Other investments
£
Cost
At 1 July 2023
57,400
Additions
48,006
Disposals
( 3,000)
---------
At 30 June 2024
102,406
---------
Impairment
At 1 July 2023 and 30 June 2024
---------
Carrying amount
At 30 June 2024
102,406
---------
At 30 June 2023
57,400
---------
The director has reviewed the values carried in the accounts for the company's fixed asset investments and is of the view that the current market values are not materially different from the initial costs.
8. Debtors
2024
2023
£
£
Trade debtors
4,394
47,317
Other debtors
347
-------
--------
4,394
47,664
-------
--------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
26,879
Corporation tax
2,321
17,493
Social security and other taxes
2,408
14,732
Other creditors
14,921
7,571
Other creditors
27,139
7,625
--------
--------
73,668
47,421
--------
--------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
15,944
----
--------
11. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
12. Director's advances, credits and guarantees
The company was under the control of D. W. Longair throughout the current and previous year.