Silverfin false false 30/09/2024 01/10/2023 30/09/2024 A Antunes 05/07/2024 D V Woolcott 16/09/2016 J Woolcott 15/09/1991 M V Woolcott 15/09/1991 20 January 2025 The principal activity of the Company is building and property development and letting of property. 01181996 2024-09-30 01181996 bus:Director1 2024-09-30 01181996 bus:Director2 2024-09-30 01181996 bus:Director3 2024-09-30 01181996 bus:Director4 2024-09-30 01181996 2023-09-30 01181996 core:CurrentFinancialInstruments 2024-09-30 01181996 core:CurrentFinancialInstruments 2023-09-30 01181996 core:ShareCapital 2024-09-30 01181996 core:ShareCapital 2023-09-30 01181996 core:FurtherSpecificReserve1ComponentTotalEquity 2024-09-30 01181996 core:FurtherSpecificReserve1ComponentTotalEquity 2023-09-30 01181996 core:RetainedEarningsAccumulatedLosses 2024-09-30 01181996 core:RetainedEarningsAccumulatedLosses 2023-09-30 01181996 core:FurtherSpecificReserve1ComponentTotalEquity 2022-09-30 01181996 2023-10-01 2024-09-30 01181996 bus:FilletedAccounts 2023-10-01 2024-09-30 01181996 bus:SmallEntities 2023-10-01 2024-09-30 01181996 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 01181996 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 01181996 bus:Director1 2023-10-01 2024-09-30 01181996 bus:Director2 2023-10-01 2024-09-30 01181996 bus:Director3 2023-10-01 2024-09-30 01181996 bus:Director4 2023-10-01 2024-09-30 01181996 2022-10-01 2023-09-30 01181996 core:FurtherSpecificReserve1ComponentTotalEquity 1 2022-10-01 2023-09-30 01181996 core:FurtherSpecificReserve1ComponentTotalEquity 2 2022-10-01 2023-09-30 01181996 core:FurtherSpecificReserve1ComponentTotalEquity 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Company No: 01181996 (England and Wales)

DALSTOCK PROPERTY CO LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

DALSTOCK PROPERTY CO LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

DALSTOCK PROPERTY CO LIMITED

BALANCE SHEET

As at 30 September 2024
DALSTOCK PROPERTY CO LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 2,120,717 2,120,587
2,120,717 2,120,587
Current assets
Debtors 4 0 2,500
Cash at bank and in hand 8,721 15,488
8,721 17,988
Creditors: amounts falling due within one year 5 ( 38,524) ( 96,713)
Net current liabilities (29,803) (78,725)
Total assets less current liabilities 2,090,914 2,041,862
Provision for liabilities 6 ( 252,993) ( 252,993)
Net assets 1,837,921 1,788,869
Capital and reserves
Called-up share capital 1,000 1,000
Fair value reserve 7 1,034,250 1,034,250
Profit and loss account 802,671 753,619
Total shareholders' funds 1,837,921 1,788,869

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Dalstock Property Co Limited (registered number: 01181996) were approved and authorised for issue by the Board of Directors on 20 January 2025. They were signed on its behalf by:

M V Woolcott
Director
D V Woolcott
Director
DALSTOCK PROPERTY CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
DALSTOCK PROPERTY CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dalstock Property Co Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Peacross Farm, Yarcombe, Honiton, Devon, EX14 9LX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Turnover also includes rents receivable, which is recognised in the period to which it relates. Rental income received in advance of the period to which it relates is included as deferred income within other creditors on the balance sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade debtors are amounts due for rental income from tenants and from customers for services performed in the ordinary course of business.

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 3

3. Investment property

Investment property
£
Valuation
As at 01 October 2023 2,120,587
Additions 130
As at 30 September 2024 2,120,717

Valuation

The company’s investment properties were revalued on 30 September 2023 by the directors on a current open market basis. The fair value of investment properties has not materially changed since 30 September 2023 and therefore no further revaluation is required.

There has been no valuation of investment property by an independent valuer.

4. Debtors

2024 2023
£ £
Trade debtors 0 2,500

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 25,706 22,237
Other creditors 12,818 74,476
38,524 96,713

6. Provision for liabilities

2024 2023
£ £
Deferred tax 252,993 252,993

7. Changes in equity

Fair value reserve
£
At 01 October 2023 1,034,250
At 30 September 2024 1,034,250
At 01 October 2022 826,412
Transfer of fair value adjustment from profit & loss 277,117
Transfer of deferred tax on fair value adjustments from profit & loss ( 69,279)
Total comprehensive income 207,838
At 30 September 2023 1,034,250

8. Related party transactions

The joint directors' loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 per director at the official HMRC rates.

At 1 October 2022 the balance owed by the directors was £667. During the year, £0 was advanced to the directors, and £1,864 was repaid by the directors. At 30 September 2023, the balance owed to the directors was £1,197.

There have been no further amounts advanced to the directors in the current year.