REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
DK Property Portfolio Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
DK Property Portfolio Limited |
DK Property Portfolio Limited (Registered number: 11312473) |
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 |
DK Property Portfolio Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
48 Hucclecote Road |
Gloucester |
Gloucestershire |
GL3 3RS |
BANKERS: |
133-135 Daventry Road |
Cheylesmore |
Coventry |
CV3 5HD |
DK Property Portfolio Limited (Registered number: 11312473) |
Statement of Financial Position |
30 April 2024 |
30/4/24 | 30/4/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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. |
DK Property Portfolio Limited (Registered number: 11312473) |
Statement of Financial Position - continued |
30 April 2024 |
The financial statements were approved by the director and authorised for issue on |
DK Property Portfolio Limited (Registered number: 11312473) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
DK Property Portfolio Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rental income due for the accounting period from the investment property. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement. |
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 or deferred taxation assets and liabilities are not discounted. |
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. |
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. |
Going concern |
Despite net current liabilities of £213,185 (2023 - £206,185), the financial statements have been prepared on a going concern basis. The director has reviewed the future cash flows of the business and has expressed his intention to financially support the company for the foreseeable future, deeming the going concern basis of preparation to be appropriate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
DK Property Portfolio Limited (Registered number: 11312473) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 1 May 2023 |
and 30 April 2024 |
Net book value |
At 30 April 2024 |
At 30 April 2023 |
The director having reviewed the local property market and after making enquiries with local agents has determined that the property values have not significantly changed during the year, so the fair value of investment property remains unchanged. |
If investment property had not been revalued it would be included at a historical cost of £695,129 (2023 - £695,129). |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/24 | 30/4/23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/24 | 30/4/23 |
£ | £ |
Trade creditors |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30/4/24 | 30/4/23 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30/4/24 | 30/4/23 |
£ | £ |
Mortgages (bank loans) | 541,642 | 541,687 |
The mortgages are secured by way of fixed charges over the company's investment properties. |
DK Property Portfolio Limited (Registered number: 11312473) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
9. | RELATED PARTY DISCLOSURES |
D Kennefick |
Director |
The director has loaned funds to the company to assist with the purchase of the investment properties. At 30 April 2024 the balance owed to the director was £214,385 (2023 - £211,650). The loan is interest free and is considered repayable on demand as it has no fixed repayment terms. |