IRIS Accounts Production v24.3.0.553 14065229 Board of Directors 1.5.23 30.4.24 30.4.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh140652292023-04-30140652292024-04-30140652292023-05-012024-04-30140652292022-04-30140652292022-05-012023-04-30140652292023-04-3014065229ns15:EnglandWales2023-05-012024-04-3014065229ns14:PoundSterling2023-05-012024-04-3014065229ns10:Director12023-05-012024-04-3014065229ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3014065229ns10:SmallEntities2023-05-012024-04-3014065229ns10:AuditExemptWithAccountantsReport2023-05-012024-04-3014065229ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3014065229ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3014065229ns10:FullAccounts2023-05-012024-04-3014065229ns10:Director22023-05-012024-04-3014065229ns10:RegisteredOffice2023-05-012024-04-3014065229ns5:CurrentFinancialInstruments2024-04-3014065229ns5:CurrentFinancialInstruments2023-04-3014065229ns5:Non-currentFinancialInstruments2024-04-3014065229ns5:Non-currentFinancialInstruments2023-04-3014065229ns5:RetainedEarningsAccumulatedLosses2024-04-3014065229ns5:RetainedEarningsAccumulatedLosses2023-04-3014065229ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-04-3014065229ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-04-30140652291ns10:Director12023-04-30140652291ns10:Director12022-04-30140652291ns10:Director12023-05-012024-04-30140652291ns10:Director12022-05-012023-04-30140652291ns10:Director12024-04-30140652291ns10:Director12023-04-30
REGISTERED NUMBER: 14065229 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

DAVIS IOW PROPERTY LIMITED

DAVIS IOW PROPERTY LIMITED (REGISTERED NUMBER: 14065229)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 5

DAVIS IOW PROPERTY LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: Mr K Davis
Mrs C Davis





REGISTERED OFFICE: 11 Clarendon Road
Shanklin
Isle of Wight
PO37 7AG





REGISTERED NUMBER: 14065229 (England and Wales)





ACCOUNTANTS: Acumen Accountants & Advisors Limited
Argent House
Argent Court
Hook Rise South
Surbiton
KT6 7LD

DAVIS IOW PROPERTY LIMITED (REGISTERED NUMBER: 14065229)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 109,220 109,220

CURRENT ASSETS
Debtors 5 613 -
Cash at bank 10,917 2,761
11,530 2,761
CREDITORS
Amounts falling due within one year 6 48,690 32,860
NET CURRENT LIABILITIES (37,160 ) (30,099 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

72,060

79,121

CREDITORS
Amounts falling due after more than one year 7 72,424 80,325
NET LIABILITIES (364 ) (1,204 )

RESERVES
Retained earnings (364 ) (1,204 )
(364 ) (1,204 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 8 November 2024 and were signed on its behalf by:





Mr K Davis - Director


DAVIS IOW PROPERTY LIMITED (REGISTERED NUMBER: 14065229)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Davis IOW Property Limited 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 presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 109,220
NET BOOK VALUE
At 30 April 2024 109,220
At 30 April 2023 109,220

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 613 -

DAVIS IOW PROPERTY LIMITED (REGISTERED NUMBER: 14065229)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts 48,210 32,680
Accrued expenses 480 180
48,690 32,860

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 72,424 80,325

8. SECURED DEBTS

The company has granted standard security in favour of The Mortgage Works (UK) PLC over Flat F, Ravenswood, Appley Rise, Ryde, Isle of Wight, PO33 1LF.

The company has also granted a bond comprising of a floating charge in favour of The Mortgage Works (UK) PLC over the undertaking of the company and contains negative pledge.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr K Davis
Balance outstanding at start of year (32,680 ) -
Amounts advanced (15,530 ) (32,680 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (48,210 ) (32,680 )

This loan is interest free and has no fixed repayment rate.

10. ULTIMATE CONTROLLING PARTY

The joint ultimate controlling party is Mr K Davis and Mrs C Davis.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DAVIS IOW PROPERTY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Davis IOW Property Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Davis IOW Property Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Davis IOW Property Limited and state those matters that we have agreed to state to the Board of Directors of Davis IOW Property Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Davis IOW Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Davis IOW Property Limited. You consider that Davis IOW Property Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Davis IOW Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants & Advisors Limited
Argent House
Argent Court
Hook Rise South
Surbiton
KT6 7LD


12 November 2024