Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseManagement of real estate on a fee or contract basis11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09913918 2023-01-01 2023-12-31 09913918 2022-01-01 2022-12-31 09913918 2023-12-31 09913918 2022-12-31 09913918 c:Director2 2023-01-01 2023-12-31 09913918 d:FreeholdInvestmentProperty 2023-12-31 09913918 d:FreeholdInvestmentProperty 2022-12-31 09913918 d:CurrentFinancialInstruments 2023-12-31 09913918 d:CurrentFinancialInstruments 2022-12-31 09913918 d:Non-currentFinancialInstruments 2023-12-31 09913918 d:Non-currentFinancialInstruments 2022-12-31 09913918 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09913918 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09913918 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09913918 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09913918 d:UKTax 2023-01-01 2023-12-31 09913918 d:UKTax 2022-01-01 2022-12-31 09913918 d:ShareCapital 2023-12-31 09913918 d:ShareCapital 2022-12-31 09913918 d:RevaluationReserve 2023-01-01 2023-12-31 09913918 d:RevaluationReserve 2023-12-31 09913918 d:RevaluationReserve 2022-12-31 09913918 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09913918 d:RetainedEarningsAccumulatedLosses 2023-12-31 09913918 d:RetainedEarningsAccumulatedLosses 2022-12-31 09913918 c:FRS102 2023-01-01 2023-12-31 09913918 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09913918 c:FullAccounts 2023-01-01 2023-12-31 09913918 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09913918 5 2023-01-01 2023-12-31 09913918 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 09913918 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 09913918 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 09913918









DWELLINGS PROPERTY SOLUTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
DWELLINGS PROPERTY SOLUTIONS LIMITED
 
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DWELLINGS PROPERTY SOLUTIONS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dwellings Property Solutions Limited for the year ended 31 December 2023 which comprise  the Balance sheet 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 Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the Board of directors of Dwellings Property Solutions Limited, as a body, in accordance with the terms of our engagement letter dated 19 September 2024Our work has been undertaken solely to prepare for your approval the financial statements of Dwellings Property Solutions Limited and state those matters that we have agreed to state to the Board of directors of Dwellings Property Solutions 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/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dwellings Property Solutions Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Dwellings Property Solutions 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 loss of Dwellings Property Solutions Limited. You consider that Dwellings Property Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Dwellings Property Solutions 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.

  



Fraser Russell Limited
 
77 Francis Road
Edgbaston
Birmingham
B16 8SP

3 October 2024
Page 1

 
DWELLINGS PROPERTY SOLUTIONS LIMITED
REGISTERED NUMBER: 09913918

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 5 
1,195,477
1,195,477

  
1,195,477
1,195,477

Current assets
  

Debtors: amounts falling due within one year
 6 
82,288
82,000

Cash at bank and in hand
 7 
462,037
9,294

  
544,325
91,294

Creditors: amounts falling due within one year
 8 
(93,260)
(128,432)

Net current assets/(liabilities)
  
 
 
451,065
 
 
(37,138)

Total assets less current liabilities
  
1,646,542
1,158,339

Creditors: amounts falling due after more than one year
 9 
(1,769,758)
(1,158,212)

  

Net (liabilities)/assets
  
(123,216)
127


Capital and reserves
  

Called up share capital 
  
1
1

Revaluation reserve
 11 
(96,474)
-

Profit and loss account
 11 
(26,743)
126

  
(123,216)
127


Page 2

 
DWELLINGS PROPERTY SOLUTIONS LIMITED
REGISTERED NUMBER: 09913918
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 October 2024.




Haroon Mohammed
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
DWELLINGS PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

The following principal accounting policies have been applied:

 
1.2

Going concern

The financial statements has been prepared on a going concern basis which assumes that the company will continue to receive support from creditors and the director as and when required.

 
1.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
DWELLINGS PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
1.5

Finance costs

Finance costs are charged to profit or 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.

 
1.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
1.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
DWELLINGS PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
1.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
1.10

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.

 
1.11

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.12

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.

 
1.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
DWELLINGS PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.


General information

Dwelling Property Solutions Limited is a company limited by shares incorporated in England within the United Kingdom, having a registration of 09913918. The address of the registered office is 77 Francis Road, Edgbaston, Birmingham, B16 8SP. The principal activity of the company in the year under review was that of deriving rental income from investment property.
The financial statements are presented in sterling which is functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
-
2,294


-
2,294


Total current tax
-
2,294

Deferred tax


Tax losses
(2,288)
-

Total deferred tax
(2,288)
-


Taxation on (loss)/profit on ordinary activities
(2,288)
2,294
Page 7

 
DWELLINGS PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
4.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is the same as (2022 - the same as) the standard rate of corporation tax in the UK of 19% (2022 - 19%) as set out below:

2023
2022
£
£


(Loss)/profit on ordinary activities before tax
(29,157)
12,075


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2022 - 19%)
-
2,294

Effects of:


Tax losses for the year
(2,288)
-

Total Tax losses for the year
(2,288)
2,294


5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
1,195,477



At 31 December 2023
1,195,477

The 2023 valuations were made by the directors, which is the purchase price as paid for the property in the prior year, on an open market value for existing use basis.


2023
2022
£
£


Historic cost
1,195,477
1,195,477

1,195,477
1,195,477


6.


Debtors

2023
2022
£
£

Page 8

 
DWELLINGS PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.Debtors (continued)


Prepayments and accrued income
80,000
82,000

Deferred taxation
2,288
-

82,288
82,000



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
462,037
9,294

462,037
9,294



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
19,186
83,986

Other loans
5,220
-

Corporation tax
-
2,294

Other taxation and social security
-
152

Other creditors
68,854
42,000

93,260
128,432



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,494,343
915,817

Other creditors
275,415
242,395

1,769,758
1,158,212



10.


Deferred taxation

Page 9

 
DWELLINGS PROPERTY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
10.Deferred taxation (continued)




2023


£






Charged to profit or loss
2,288



At end of year
2,288

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses carried forward
2,288
-

2,288
-


11.


Reserves

Revaluation reserve

Enter user text here - user input

Profit and loss account

Consists of all profits for the current period as recognised through the profit and loss account.  During the year £28,000 dividend has been declared to the shareholders.


12.


Related party transactions

Mr Mohammed is also a shareholder and director of  Dwellings Property Consultancy Ltd.
During the period, the Company transacted with Dwellings Property Consultancy Ltd for good and services for a net amount of £22,000. During the period, the Company recieved goods and services of 22,000 from Dwellings Property Consultancy Ltd. As at the balance sheet date, the Company owed Dwellings Property Consultancy Ltd £Nil (2022: £22,000) which is shown in Other Creditors due within one year. 
The above balance is payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.

 
Page 10