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Registration number: 04592832

Derek Styles Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Derek Styles Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Derek Styles Limited

Company Information

Director

Mr D L H Styles

Company secretary

Mrs J E Styles

Registered office

Raglan House
20 Somers Road
Malvern
Worcestershire
WR14 1HT

Accountants

Horwood Tax Consultants Limited
The Bothy
Cleevelands Avenue
Cheltenham
Gloucestershire
GL50 4PY

 

Derek Styles Limited

(Registration number: 04592832)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,014

1,883

Investment property

5

-

281,985

 

1,014

283,868

Current assets

 

Debtors

6

5,489

51,433

Cash at bank and in hand

 

1,373

623

 

6,862

52,056

Creditors: Amounts falling due within one year

7

(1,429)

(342,784)

Net current assets/(liabilities)

 

5,433

(290,728)

Net assets/(liabilities)

 

6,447

(6,860)

Capital and reserves

 

Called up share capital

10

10

Retained earnings

6,437

(6,870)

Shareholders' funds/(deficit)

 

6,447

(6,860)

 

Derek Styles Limited

(Registration number: 04592832)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 November 2024
 

.........................................
Mr D L H Styles
Director

 

Derek Styles Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Raglan House
20 Somers Road
Malvern
Worcestershire
WR14 1HT

These financial statements were authorised for issue by the director on 25 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Adjusting events after the financial period

In the prior year dividends of £30,000 were reported in error, the figure actually paid to the shareholders was £5,000. The adjustment required impacts the Balance Sheet only and has been adjusted through the Balance Sheet as at 30 September 2024.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Derek Styles Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Derek Styles Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

4,508

4,508

At 30 September 2024

4,508

4,508

Depreciation

At 1 October 2023

2,625

2,625

Charge for the year

869

869

At 30 September 2024

3,494

3,494

Carrying amount

At 30 September 2024

1,014

1,014

At 30 September 2023

1,883

1,883



 

5

Investment properties

2024
£

At 1 October

281,985

Disposals

(281,985)

At 30 September

-

Investment properties have been valued at the balance sheet date by the director, in accordance with market values.

The Investment property was sold on the 30 January 2024.

 

Derek Styles Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

Current

2024
£

2023
£

Prepayments

-

108

Other debtors

5,489

51,325

 

5,489

51,433

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

-

770

Accruals and deferred income

1,050

1,890

Other creditors

379

340,124

1,429

342,784