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REGISTERED NUMBER: 00297189 (England and Wales)







Audited Financial Statements

for the Year Ended 31 March 2024

for

Derbyshire Property Trust Limited (The)

Derbyshire Property Trust Limited (The) (Registered number: 00297189)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Derbyshire Property Trust Limited (The)

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D G Tanner BSc., MRICS
J Connell
N F Bohane
L F Edge



SECRETARY: L F Edge



REGISTERED OFFICE: Rose Cottage
Duffield Bank
Duffield
Belper
Derbyshire
DE56 4BG



REGISTERED NUMBER: 00297189 (England and Wales)



AUDITORS: Mabe Allen LLP
Chartered Accountants
Statutory Auditors
50 Osmaston Road
Derby
DE1 2HU



BANKERS: Lloyds Bank
16 Lower Parliament Street
Nottingham
NG1 3DA

Derbyshire Property Trust Limited (The) (Registered number: 00297189)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - -
Investment property 6 12,891,500 12,351,500
12,891,500 12,351,500

CURRENT ASSETS
Debtors 7 322,097 356,255
Investments 8 150,494 -
Cash at bank 411,978 426,669
884,569 782,924
CREDITORS
Amounts falling due within one year 9 282,807 247,447
NET CURRENT ASSETS 601,762 535,477
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,493,262

12,886,977

PROVISIONS FOR LIABILITIES 10 688,410 596,975
NET ASSETS 12,804,852 12,290,002

CAPITAL AND RESERVES
Called up share capital 11 16,582 16,582
Fair value reserve 12 4,819,590 4,371,025
Retained earnings 7,968,680 7,902,395
SHAREHOLDERS' FUNDS 12,804,852 12,290,002

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 25 October 2024 and were signed on its behalf by:





D G Tanner BSc., MRICS - Director


Derbyshire Property Trust Limited (The) (Registered number: 00297189)

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

1. STATUTORY INFORMATION

Derbyshire Property Trust Limited (The) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover derives from rental income which is recognised when the invoices are raised in accordance with the terms of the leases. Turnover takes account of rent arrears, amounts invoiced in advance and bad debt provisions.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

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.

Derbyshire Property Trust Limited (The) (Registered number: 00297189)

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

3. 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.

Investments
Current asset investments are measured at fair value with changes in fair value recognised in the profit and loss.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that the outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 863
DEPRECIATION
At 1 April 2023
and 31 March 2024 863
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Derbyshire Property Trust Limited (The) (Registered number: 00297189)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 12,351,500
Revaluations 540,000
At 31 March 2024 12,891,500
NET BOOK VALUE
At 31 March 2024 12,891,500
At 31 March 2023 12,351,500

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 5,508,001
Cost 7,383,499
12,891,500

Investment property were valued on a fair value basis on 31 March 2024 by the Directors and R J Harmer (MRICS) .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 243,053 279,544
Other debtors 39,600 39,600
Prepayments 39,444 37,111
322,097 356,255

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Deposit bank account 150,494 -

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 125,698 84,233
Social security and other taxes 4,058 3,019
Other creditors 30,813 25,025
Accruals & deferred income 122,238 135,170
282,807 247,447

Derbyshire Property Trust Limited (The) (Registered number: 00297189)

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

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 688,410 596,975

Deferred
tax
£   
Balance at 1 April 2023 596,975
Other timing differences 91,435
Balance at 31 March 2024 688,410

Deferred tax liabilities relate to the provision for tax payable on potential future sales of investment properties.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
16,582 Ordinary £1 16,582 16,582

12. RESERVES
Fair
value
reserve
£   
At 1 April 2023 4,371,025
Fair value gains, net of deferred tax 448,565

At 31 March 2024 4,819,590

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Slack FCA (Senior Statutory Auditor)
for and on behalf of Mabe Allen LLP