DCL Howe Properties Ltd 12516884 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is letting of investment property. Digita Accounts Production Advanced 6.30.9574.0 true true 12516884 2023-04-01 2024-03-31 12516884 2024-03-31 12516884 bus:OrdinaryShareClass1 2024-03-31 12516884 bus:OrdinaryShareClass2 2024-03-31 12516884 core:OtherReservesSubtotal 2024-03-31 12516884 core:RetainedEarningsAccumulatedLosses 2024-03-31 12516884 core:ShareCapital 2024-03-31 12516884 core:SharePremium 2024-03-31 12516884 core:CurrentFinancialInstruments 2024-03-31 12516884 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12516884 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 12516884 core:FurnitureFittingsToolsEquipment 2024-03-31 12516884 bus:SmallEntities 2023-04-01 2024-03-31 12516884 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12516884 bus:FullAccounts 2023-04-01 2024-03-31 12516884 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12516884 bus:RegisteredOffice 2023-04-01 2024-03-31 12516884 bus:Director1 2023-04-01 2024-03-31 12516884 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 12516884 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 12516884 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12516884 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 12516884 core:PlantMachinery 2023-04-01 2024-03-31 12516884 countries:EnglandWales 2023-04-01 2024-03-31 12516884 2023-03-31 12516884 core:FurnitureFittingsToolsEquipment 2023-03-31 12516884 2022-04-01 2023-03-31 12516884 2023-03-31 12516884 bus:OrdinaryShareClass1 2023-03-31 12516884 bus:OrdinaryShareClass2 2023-03-31 12516884 core:OtherReservesSubtotal 2023-03-31 12516884 core:RetainedEarningsAccumulatedLosses 2023-03-31 12516884 core:ShareCapital 2023-03-31 12516884 core:SharePremium 2023-03-31 12516884 core:CurrentFinancialInstruments 2023-03-31 12516884 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12516884 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 12516884 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12516884

DCL Howe Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

DCL Howe Properties Ltd

(Registration number: 12516884)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

275

413

Investment property

5

1,724,000

2,771,000

 

1,724,275

2,771,413

Current assets

 

Debtors

6

1,481

1,511

Cash at bank and in hand

 

536,045

351,168

 

537,526

352,679

Creditors: Amounts falling due within one year

7

(569,699)

(497,831)

Net current liabilities

 

(32,173)

(145,152)

Total assets less current liabilities

 

1,692,102

2,626,261

Creditors: Amounts falling due after more than one year

7

(782,027)

(1,547,220)

Provisions for liabilities

(81,319)

(139,353)

Net assets

 

828,756

939,688

Capital and reserves

 

Called up share capital

8

300

300

Share premium reserve

519,977

519,977

Other reserves

243,750

417,750

Profit and loss account

64,729

1,661

Shareholders' funds

 

828,756

939,688

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 



 

Mrs C Howe
Director

 

DCL Howe Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
1st Floor Woburn House
84 St Benedicts Street
Norwich
Norfolk
NR2 4AB

2

Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

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.

Going concern

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

Revenue recognition
Turnover comprises rental income received or receivable in the ordinary course of the company's activities.

The company recognises revenue when:

The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities

Tax

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
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 at cost, less any subsequent accumulated depreciation and accumulated impairment losses.

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

 

DCL Howe Properties Ltd

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

Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

25% straight line

Investment property

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Cash
Cash comprises cash on hand and all deposits.

Debtors
Debtors are amounts due from tenants for rent receivable and other associated letting fees in the ordinary course of the business.

Debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

 

DCL Howe Properties Ltd

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

4

Tangible assets

Plant and equipment
 £

Total
£

Cost

At 1 April 2023

551

551

At 31 March 2024

551

551

Depreciation

At 1 April 2023

138

138

Charge for the year

138

138

At 31 March 2024

276

276

Net book value

At 31 March 2024

275

275

At 31 March 2023

413

413

5

Investment property

2024
£

2023
£

At 1 April

2,771,000

2,527,000

Disposals

(1,097,000)

(165,000)

Fair value adjustments

50,000

409,000

At 31 March

1,724,000

2,771,000

The properties were valued by the directors at their market value using current market data for similar properties in the same areas.

6

Debtors

2024
£

2023
£

Other debtors

1,222

1,152

Prepayments

259

359

1,481

1,511

 

DCL Howe Properties Ltd

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Bank loans

79,435

-

Trade creditors

1,093

259

Taxation and social security

18,478

352

Other creditors

3,347

4,505

Other loans

403,319

465,379

Accruals

64,027

27,336

569,699

497,831

Creditors include bank loans which are secured against the properties they relate to in the sum of £79,435 (2023 - £nil).

Creditors: amounts falling due after more than one year

2024
£

2023
£

Bank loans

782,027

1,547,220

782,027

1,547,220

Creditors include bank loans which are secured against the properties they relate to in the sum of £782,027 (2023 - £1,547,220). Of this amount, £350,140 (2023 - £1,022,175) is repayable, other than by instalments after more than five years.

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200

Ordinary shares A of £0.01 each

10,000

100

10,000

100

 

10,200

300

10,200

300

9

Related party transactions

Directors’ loan

The directors' provided the company with a loan on which interest was charged at a market rate.