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REGISTERED NUMBER: 00717010 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

DOUGLAS GRAHAM DEVELOPMENTS LIMITED

DOUGLAS GRAHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00717010)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DOUGLAS GRAHAM DEVELOPMENTS LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A R Gross
A N Gross
C H Levy
D J Jenkins





SECRETARY: C H Levy





REGISTERED OFFICE: Unit A6
Chaucer Business Park
Dittons Road
Polegate
East Sussex
BN26 6QH





REGISTERED NUMBER: 00717010 (England and Wales)





ACCOUNTANTS: MDJ Services Limited
Unit A6
Chaucer Business Park
Dittons Road
Polegate
East Sussex
BN26 6QH

DOUGLAS GRAHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00717010)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,862 31,504
Investment property 5 3,954,028 4,512,134
3,980,890 4,543,638

CURRENT ASSETS
Debtors 6 1,989,841 56,499
Cash at bank 49,331 1,300,199
2,039,172 1,356,698
CREDITORS
Amounts falling due within one year 7 136,145 55,981
NET CURRENT ASSETS 1,903,027 1,300,717
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,883,917

5,844,355

PROVISIONS FOR LIABILITIES 157,959 155,133
NET ASSETS 5,725,958 5,689,222

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 1,071,295 1,294,384
Retained earnings 8 4,654,563 4,394,738
SHAREHOLDERS' FUNDS 5,725,958 5,689,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

DOUGLAS GRAHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00717010)

Balance Sheet - continued
31 March 2024


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 18 November 2024 and were signed on its behalf by:





C H Levy - Director


DOUGLAS GRAHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00717010)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Douglas Graham Developments 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture and equipment - 25% on reducing balance
Computer equipment - 33.33% on reducing balance

Investment property
Investment properties are those properties that are held either to earn rental income or for capital appreciation or both.

Investment properties are measured initially at cost including transaction costs and thereafter are stated at fair value, which reflects market conditions at the balance sheet date. Surpluses and deficits arising from changes in the fair value of investment properties are recognised in the Statement of Comprehensive Income in the year in which they arise.

Investment properties are stated at fair value as determined by the directors. The fair value of the company's property portfolio is based upon external valuations and is inherently subjective. The fair value represents the amount at which the assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arms-length transaction at the date of valuation. The fair value of each of the properties has been assessed by the directors. In determining the fair value of investment properties, the directors make use of historical and current market data as well as existing lease agreements.

Additions and disposals of investment properties are recognised in the accounts when contracts are completed.


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.


DOUGLAS GRAHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00717010)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Furniture
and Computer
equipment equipment Totals
£    £    £   
COST
At 1 April 2023 45,692 10,337 56,029
Additions - 1,232 1,232
Disposals - (1,343 ) (1,343 )
At 31 March 2024 45,692 10,226 55,918
DEPRECIATION
At 1 April 2023 17,572 6,953 24,525
Charge for year 4,218 1,481 5,699
Eliminated on disposal - (1,168 ) (1,168 )
At 31 March 2024 21,790 7,266 29,056
NET BOOK VALUE
At 31 March 2024 23,902 2,960 26,862
At 31 March 2023 28,120 3,384 31,504

DOUGLAS GRAHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00717010)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 4,512,134
Additions 74,919
Disposals (533,860 )
Revaluations (99,165 )
At 31 March 2024 3,954,028
NET BOOK VALUE
At 31 March 2024 3,954,028
At 31 March 2023 4,512,134

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2004 592,805
Valuation in 2014 728,898
Valuation in 2024 (99,165 )
Cost 2,731,490
3,954,028

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 2,731,490 2,924,073

Investment properties were valued on an open market basis on 31 March 2024 by the directors .

Freehold investment property is valued at the end of each financial year by the directors. Independent valuations by valuers with a recognised qualification are sought where, in the opinion of the directors, there is market evidence to suggest that changes in fair value for properties of a similar type and location have occurred requiring specialist market knowledge in order to ascertain the fair value. The last independent valuation of the property portfolio was carried out by Willmotts Chartered Surveyors as at 6 January 2014 on the basis of open market value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 3,223 56,462
Amounts owed by related undertakings 1,986,618 -
VAT - 37
1,989,841 56,499

DOUGLAS GRAHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00717010)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 2,850 3,607
Tax 85,961 2,518
Social security and other taxes 1,730 1,261
Other creditors 36,004 36,330
Directors' current accounts - 2,665
Accrued expenses 9,600 9,600
136,145 55,981

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 4,394,738 1,294,384 5,689,122
Profit for the year 36,737 36,737
Transfer of realised profit - (1 ) (1 )
Revaluation adjustment 99,165 (99,165 ) -
Tax on revaluation adjustment 17,457 (17,457 ) -
Transfer of realised profit 106,466 (106,466 ) -
At 31 March 2024 4,654,563 1,071,295 5,725,858

9. RELATED PARTY DISCLOSURES

Amounts advanced to related parties were as follows:

Balance at
31.3.2023

Movement
in year

Balance at
31.3.2024
Included in debtors£££

Owed by related undertakings
Hars Properties Limited-1,890,1551,890,155
Welnen Investments Limited-96,46296,462
-1,986,6171,986,617

A R Gross, A N Gross and C Levy are all directors of and have a material interest in Welnen Investments Limited. They are also all directors of Hars Properties Limited and A R Gross holds a material interest in Hars Properties Limited..