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REGISTERED NUMBER: 03108525 (England and Wales)












Unaudited Financial Statements

For The Year Ended 31 May 2024

for

Direct Investments (Yorkshire) Limited

Direct Investments (Yorkshire) Limited (Registered number: 03108525)






Contents of the Financial Statements
For The Year Ended 31 May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Direct Investments (Yorkshire) Limited

Company Information
For The Year Ended 31 May 2024







DIRECTORS: Mrs S Ioannou
Miss B Wade





SECRETARY: Mrs S Ioannou





REGISTERED OFFICE: 15 Westlea Drive
Tingley
Wakefield
West Yorkshire
WF3 1DH





REGISTERED NUMBER: 03108525 (England and Wales)





ACCOUNTANTS: Xeinadin
6 Victoria Avenue
Harrogate
HG1 1ED

Direct Investments (Yorkshire) Limited (Registered number: 03108525)

Abridged Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,777 3,386
Investment property 5 737,388 114,736
740,165 118,122

CURRENT ASSETS
Debtors 551,481 201,065
Cash at bank and in hand 640,530 2,047,841
1,192,011 2,248,906
CREDITORS
Amounts falling due within one year 5,035 363,483
NET CURRENT ASSETS 1,186,976 1,885,423
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,927,141

2,003,545

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserves 3 -
Retained earnings 1,927,038 2,003,445
1,927,141 2,003,545

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Direct Investments (Yorkshire) Limited (Registered number: 03108525)

Abridged Balance Sheet - continued
31 May 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 February 2025 and were signed on its behalf by:





Mrs S Ioannou - Director


Direct Investments (Yorkshire) Limited (Registered number: 03108525)

Notes to the Financial Statements
For The Year Ended 31 May 2024

1. STATUTORY INFORMATION

Direct Investments (Yorkshire) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Direct Investments (Yorkshire) Limited (Registered number: 03108525)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 4,946
Additions 316
At 31 May 2024 5,262
DEPRECIATION
At 1 June 2023 1,560
Charge for year 925
At 31 May 2024 2,485
NET BOOK VALUE
At 31 May 2024 2,777
At 31 May 2023 3,386

5. INVESTMENT PROPERTY

Cost or valuation at 31 May 2024 is represented by:
£
2023 Additions at cost114,736
2024 Increase in valuation3
2024 Additions at cost622,649
737,388


Direct Investments (Yorkshire) Limited (Registered number: 03108525)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 3
Cost 737,385
737,388

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 737,385 114,736

The investment property was valued on an open market basis on 31 May 2024 by by the directors .

6. OTHER FINANCIAL COMMITMENTS

The company had outstanding commitments in respect of operating leases as at 31 May 2024 of £8,848.

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mrs S Ioannou
Balance outstanding at start of year 198,981 7,526
Amounts advanced 72,870 243,354
Amounts repaid (36,008 ) (51,899 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 235,843 198,981

Miss B Wade
Balance outstanding at start of year - -
Amounts advanced 149,323 -
Amounts repaid (35,599 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 113,724 -

The advances attract interest at the HMRC official rate of interest and there are no repayment terms.