Registered number
09846776
Drystone Wharf Ltd
Unaudited Filleted Accounts
For the Year Ended
30 September 2024
Drystone Wharf Ltd
Registered number: 09846776
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 390,000 390,000
Current assets
Debtors 4 - 1,458
Cash at bank and in hand 60,614 49,643
60,614 51,101
Creditors: amounts falling due within one year 5 (14,832) (11,145)
Net current assets 45,782 39,956
Total assets less current liabilities 435,782 429,956
Creditors: amounts falling due after more than one year 6 (119,436) (129,393)
Provisions for liabilities (49,708) (49,708)
Net assets 266,638 250,855
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 149,124 149,124
Profit and loss account 117,414 101,631
Shareholders' funds 266,638 250,855
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S P Adams
Director
Approved by the board on 7 November 2024
Drystone Wharf Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investment property
Other
investments
£
Cost
At 1 October 2023 390,000
At 30 September 2024 390,000
The directors are satisfied that the carrying value of the company's investment properties is a fair reflection of their fair value at 30 September 2023.
4 Debtors 2024 2023
£ £
Trade debtors - 1,458
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,572 4,200
Taxation and social security costs 3,702 2,347
Other creditors 6,558 4,598
14,832 11,145
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 23,242 28,199
Other creditors 96,194 101,194
119,436 129,393
7 Revaluation reserve 2024 2023
£ £
At 1 October 2023 149,124 149,124
At 30 September 2024 149,124 149,124
8 Related party transactions
Drystone Wharf Ltd owes Idest Ltd £50,594 [2023-£50,594] and Peill & Company Ltd £45,600 [2023-£50,600].
9 Other information
Drystone Wharf Ltd is a private company limited by shares and incorporated in England. Its registered office is:
62 Papermill Wharf
Narrow Street
Limehouse
London
E14 8BZ
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