Company Registration No. 10232493 (England and Wales)
Dhillons Property Investments Limited
Unaudited accounts
for the year ended 31 March 2024
Dhillons Property Investments Limited
Unaudited accounts
Contents
Dhillons Property Investments Limited
Company Information
for the year ended 31 March 2024
Director
Mr. Manga Singh Dhillon
Company Number
10232493 (England and Wales)
Registered Office
Eagle House Stonebridge Road
Eagle Way
Northfleet
Gravesend
DA11 9BJ
UK
Dhillons Property Investments Limited
Statement of financial position
as at 31 March 2024
Tangible assets
22,198
26,115
Investments
4,569,495
4,239,273
Cash at bank and in hand
81,510
8,091
Creditors: amounts falling due within one year
(351,558)
(362,169)
Net current liabilities
(236,603)
(141,911)
Total assets less current liabilities
4,355,090
4,123,477
Creditors: amounts falling due after more than one year
(3,979,700)
(3,821,923)
Provisions for liabilities
Deferred tax
(24,082)
(24,082)
Net assets
351,308
277,472
Called up share capital
1
1
Profit and loss account
351,307
277,471
Shareholders' funds
351,308
277,472
For the 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. 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 15 July 2024 and were signed on its behalf by
Mr. Manga Singh Dhillon
Director
Company Registration No. 10232493
Dhillons Property Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
Dhillons Property Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 10232493. The registered office is Eagle House Stonebridge Road, Eagle Way, Northfleet, Gravesend, DA11 9BJ, UK.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% Reducing balance
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. Crystallised gains are recognised in the income statement. Deferred taxation is provided on uncrystallised gains at the rate expected to apply when the property is sold.
Dhillons Property Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings
5
Investments
Other investments
Valuation at 1 April 2023
4,239,273
Valuation at 31 March 2024
4,569,495
Other Investments comprise entirely of freehold property investments.
During the period the freehold property investments have been revalued by the director on a rental yield basis typical of commercial properties held by the company.
The properties stated on a historical basis would be £4,442,747 (2023:£4,112,525).
Amounts falling due within one year
Other debtors
33,445
212,167
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
273,372
293,188
Taxes and social security
11,419
5,395
Other creditors
63,587
63,586
Dhillons Property Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
2,037,610
2,111,278
Amounts owed to group undertakings and other participating interests
1,942,090
1,710,645
The bank loans and overdrafts are secured against assets of the company. The company has loans with HSBC Bank of £2,310,982. The interest rate on these loans range from 2.5% to 4.9% above bank base rate.
The company is controlled by T&M Dhillon Group Ltd which is registered in England.
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).