REGISTERED NUMBER: |
Didsprop Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
REGISTERED NUMBER: |
Didsprop Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
Didsprop Limited (Registered number: 09510652) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
Didsprop Limited |
Company Information |
for the Year Ended 30 June 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
Mynshull House |
78 Churchgate |
Stockport |
Cheshire |
SK1 1YJ |
Didsprop Limited (Registered number: 09510652) |
Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
Didsprop Limited (Registered number: 09510652) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Didsprop Limited (Registered number: 09510652) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | Statutory information |
Didsprop Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 |
"The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the |
provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have |
been prepared under the historical cost convention as modified by the revaluation of certain assets. |
These financial statements have been prepared on a going concern basis. |
The fluctuation in the commercial property market has caused a reduction in the valuation of the investment property. The directors believe that this will increase over time and the company will become solvent again. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss. |
The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view. |
If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified. |
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 balance sheet date. |
3. | Employees and directors |
The average number of employees during the year was |
Didsprop Limited (Registered number: 09510652) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | Investment property |
Total |
£ |
Fair value |
At 1 July 2023 |
Valuation changes | (146,077 | ) |
Impairments | (12,656 | ) |
At 30 June 2024 |
Net book value |
At 30 June 2024 |
At 30 June 2023 |
Fair value at 30 June 2024 is represented by: |
£ |
Valuation in 2024 | 865,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
30.6.24 | 30.6.23 |
£ | £ |
Cost | 1,023,733 | 1,023,733 |
Investment property was valued on an open market basis on 30 June 2024 by the directors . |
5. | Debtors: amounts falling due within one year |
30.6.24 | 30.6.23 |
£ | £ |
Amounts owed by participating interests | - | 5,243 |
Amounts owed by associates |
Other debtors |
6. | Creditors: amounts falling due within one year |
30.6.24 | 30.6.23 |
£ | £ |
Amounts owed to participating interests | 980,304 | 65,344 |
Taxation and social security |
Other creditors |