Company Registration No. 11109292 (England and Wales)
Durdent Properties Ltd
Unaudited accounts
for the year ended 30 November 2023
Durdent Properties Ltd
Unaudited accounts
Contents
Durdent Properties Ltd
Company Information
for the year ended 30 November 2023
Director
Sally Anee CAKEBREAD
Company Number
11109292 (England and Wales)
Registered Office
Savay Farm
Savay Lane
Denham
Uxbridge
Middlesex
UB9 5NJ
England
Accountants
The Peek Partnership Limited
Unit 1, Chancerygate Business Center
Stonefield Way
Ruislip
Middlesex
HA4 0JA
Durdent Properties Ltd
Statement of financial position
as at 30 November 2023
Investment property
8,287,000
7,801,769
Cash at bank and in hand
60,021
58,987
Creditors: amounts falling due within one year
(117,304)
(152,412)
Net current liabilities
(47,951)
(91,917)
Total assets less current liabilities
8,239,049
7,709,852
Creditors: amounts falling due after more than one year
(5,070,155)
(5,025,939)
Provisions for liabilities
Deferred tax
(130,273)
(8,965)
Net assets
3,038,621
2,674,948
Called up share capital
1,100
1,100
Share premium
2,776,740
2,776,740
Revaluation reserve
38,220
38,220
Profit and loss account
222,561
(141,112)
Shareholders' funds
3,038,621
2,674,948
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 November 2024 and were signed on its behalf by
Sally Anee CAKEBREAD
Director
Company Registration No. 11109292
Durdent Properties Ltd
Notes to the Accounts
for the year ended 30 November 2023
Durdent Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 11109292. The registered office is Savay Farm, Savay Lane, Denham, Uxbridge, Middlesex, UB9 5NJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Durdent Properties Ltd
Notes to the Accounts
for the year ended 30 November 2023
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Fair value at 1 December 2022
7,801,769
Net gain from fair value adjustments
485,231
At 30 November 2023
8,287,000
Investment property comprises freehold and leasehold properties. The fair value of the investment properties
has been revalued by the director at balance sheet date.
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
9,870
-
Taxes and social security
(94)
-
Loans from directors
100,028
116,210
Other creditors include director loan account of £94,016
Bounce back loans of £9,870 are subject to interest and monthly repayments.
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
5,070,155
5,025,939
Bank loans include Mortgage loans of £5,054,146. Mortgage loans are Interest only and secured against the Investment properties.
Bounce back loans of £15,915 are subject to interest and monthly repayments.
Durdent Properties Ltd
Notes to the Accounts
for the year ended 30 November 2023
8
Deferred taxation
2023
2022
Revaluation of investment property
130,273
8,965
Provision at start of year
8,965
-
Charged to the profit and loss account
121,308
8,965
Provision at end of year
130,273
8,965
Allotted, called up and fully paid:
800 Ordinary shares A of £1 each
800
800
200 Ordinary Shares B of £1 each
200
200
100 Ordinary Shares s of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).