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REGISTERED NUMBER: 08332109 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

DIRECT PROPERTY ESTATES LIMITED

DIRECT PROPERTY ESTATES LIMITED (REGISTERED NUMBER: 08332109)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DIRECT PROPERTY ESTATES LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: G J Bartlett
A H Bellis
D Crawshaw
M Smith





REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB





REGISTERED NUMBER: 08332109 (England and Wales)





ACCOUNTANTS: Fairhurst Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

DIRECT PROPERTY ESTATES LIMITED (REGISTERED NUMBER: 08332109)

STATEMENT OF FINANCIAL POSITION
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 371 436
371 436

CURRENT ASSETS
Debtors 6 25,861 48,646
Cash at bank 13,174 7,963
39,035 56,609
CREDITORS
Amounts falling due within one year 7 107,692 118,230
NET CURRENT LIABILITIES (68,657 ) (61,621 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(68,286

)

(61,185

)

CREDITORS
Amounts falling due after more than one
year

8

8,666

16,667
NET LIABILITIES (76,952 ) (77,852 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (77,052 ) (77,952 )
SHAREHOLDERS' FUNDS (76,952 ) (77,852 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DIRECT PROPERTY ESTATES LIMITED (REGISTERED NUMBER: 08332109)

STATEMENT OF FINANCIAL POSITION - continued
30 April 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 January 2025 and were signed on its behalf by:





G J Bartlett - Director


DIRECT PROPERTY ESTATES LIMITED (REGISTERED NUMBER: 08332109)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Direct Property Estates Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with the provisions of Section 1 A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The principle accounting policies adopted in the preparation of the financial statements are set out below.

Turnover
Turnover represents the value of services provided, excluding value added tax, during the year.

Turnover is recognised when the service has occured and an invoice is raised and sent to the customer.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc - 33% on cost and 15% on reducing balance

Financial instruments
The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments.

The following assets and liabilities are classified as financial instruments; trade debtors, Directors' loan accounts, bank loans and accruals.

Financial instruments that are payable or receivable within one year, typically trade debtors, Directors' loan accounts, trade creditors and accruals are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


DIRECT PROPERTY ESTATES LIMITED (REGISTERED NUMBER: 08332109)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 33,087
AMORTISATION
At 1 May 2023
and 30 April 2024 33,087
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 2,840
DEPRECIATION
At 1 May 2023 2,404
Charge for year 65
At 30 April 2024 2,469
NET BOOK VALUE
At 30 April 2024 371
At 30 April 2023 436

DIRECT PROPERTY ESTATES LIMITED (REGISTERED NUMBER: 08332109)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,606 15,068
Amounts owed by group undertakings - 30,323
Other debtors 3,255 3,255
25,861 48,646

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,000 8,000
Trade creditors 7,209 7,194
Amounts owed to group undertakings 70,842 -
Taxation and social security 8,740 8,523
Other creditors 12,901 94,513
107,692 118,230

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,666 16,667

9. RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of Parkinson Property Consultants Limited incorporated in England.

At the reporting date £70,842 (2023: £30,324 Dr) was owed to Parkinson Property Consultants Limited by the company. No interest is being charged and there are no formal repayment terms.