Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31Investment property rentalThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-04-01false33true 09391759 2023-04-01 2024-03-31 09391759 2022-04-01 2023-03-31 09391759 2024-03-31 09391759 2023-03-31 09391759 c:Director1 2023-04-01 2024-03-31 09391759 d:FreeholdInvestmentProperty 2024-03-31 09391759 d:FreeholdInvestmentProperty 2023-03-31 09391759 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 09391759 d:CurrentFinancialInstruments 2024-03-31 09391759 d:CurrentFinancialInstruments 2023-03-31 09391759 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09391759 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09391759 d:ShareCapital 2024-03-31 09391759 d:ShareCapital 2023-03-31 09391759 d:RetainedEarningsAccumulatedLosses 2024-03-31 09391759 d:RetainedEarningsAccumulatedLosses 2023-03-31 09391759 c:FRS102 2023-04-01 2024-03-31 09391759 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09391759 c:FullAccounts 2023-04-01 2024-03-31 09391759 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 09391759









DBS HOMES GROUP LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
DBS HOMES GROUP LTD
REGISTERED NUMBER: 09391759

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
350,000
325,000

  
350,000
325,000

Current assets
  

Cash at bank and in hand
 5 
27,333
49,993

  
27,333
49,993

Creditors: amounts falling due within one year
 6 
(517,045)
(563,841)

Net current liabilities
  
 
 
(489,712)
 
 
(513,848)

Total assets less current liabilities
  
(139,712)
(188,848)

  

Net liabilities
  
(139,712)
(188,848)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(139,812)
(188,948)

  
(139,712)
(188,848)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 February 2025.

D B Sugarman
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
DBS HOMES GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

DBS Homes Group Ltd Ltd is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 09391759. The address of the registered office is Haslers, Old Station Road, Loughton, Essex, United Kingdom, IG10 4PL. The nature of the company's operations and principal activities is the development of property.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company although in a net liability position continues to adopt the going concern concept due to its support by the related parties and director. 

 
2.3

Revenue

Revenue represents rental income received during the period to which it relates. 

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 2

 
DBS HOMES GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 3

 
DBS HOMES GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
325,000


Surplus on revaluation
25,000



At 31 March 2024
350,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
548,849
548,849

Accumulated impairments
(198,849)
(223,849)

350,000
325,000


5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
27,333
49,994

27,333
49,994



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
5,662
5,266

Other creditors
509,313
556,505

Accruals and deferred income
2,070
2,070

517,045
563,841


Page 4

 
DBS HOMES GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Related party transactions

At the year end the following amounts were due from/(to) related parties:


2024
2023
£
£

Other related parties
(509,313)
(556,506)
(509,313)
(556,506)


8.


Controlling party

The ultimate controlling party is D Sugarman by virtue of his shareholding.



 
Page 5