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Registered Number: SC687448
Scotland

 

 

 

DKRS PROPERTY LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of DKRS Property Ltd for the year ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DKRS Property Ltd for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of DKRS Property Ltd, as a body, in accordance with the terms of our engagement letter dated 24 January 2025. Our work has been undertaken solely to prepare for your approval the accounts of DKRS Property Ltd and state those matters that we have agreed to state to the Board of Directors of DKRS Property Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DKRS Property Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that DKRS Property Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of DKRS Property Ltd. You consider that DKRS Property Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of DKRS Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended 31 January 2024










....................................................
aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
PE1 2DU
24 January 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 84,859    81,712 
84,859    81,712 
Current assets      
Debtors 3,006    56 
Cash at bank and in hand 2    1,562 
3,008    1,618 
Creditors: amount falling due within one year (15,403)   (11,455)
Net current assets (12,395)   (9,837)
 
Total assets less current liabilities 72,464    71,875 
Creditors: amount falling due after more than one year (68,433)   (68,863)
Provisions for liabilities (722)   (722)
Net assets 3,309    2,290 
 

Capital and reserves
     
Called up share capital 4 100    100 
Reserves 5 3,073    3,073 
Profit and loss account 136    (883)
Shareholders' funds 3,309    2,290 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 24 January 2025 and were signed on its behalf by:


-------------------------------
Sandor Dogei
Director
2
General Information
DKRS Property Ltd is a private company, limited by shares, registered in Scotland, registration number SC687448, registration address 5 Stonebank Grove, Glasgow, G45 9DP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 15 Reducing Balance
Computer Equipment 3 Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees including directors

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Investment properties   Total
  £   £   £   £
At 01 February 2023     83,230    83,230 
Additions 2,915    999    81,712    85,626 
Disposals      
At 31 January 2024 2,915    999    164,942    168,856 
Depreciation
At 01 February 2023      
Charge for year 437    330      767 
On disposals     83,230    83,230 
At 31 January 2024 437    330    83,230    83,997 
Net book values
Closing balance as at 31 January 2024 2,478    669    81,712    84,859 
Opening balance as at 01 February 2023     81,712    81,712 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
56 Class A shares of £1.00 each 56    56 
26 Class B shares of £1.00 each 26    26 
18 Class C shares of £1.00 each 18    18 
100    100 

3