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Registered number: 13463507
Darcha Estates Ltd
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 May 2024
Elsby and Company Ltd
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Statement of Changes in Equity 7
Notes to the Financial Statements 8—10
Page 1
Company Information
Directors Mrs Charis Kirby
Mr Darcy Kirby
Company Number 13463507
Registered Office 9 Willow Brook Square
Northampton
Northamptonshire
NN3 5HD
Accountants Elsby and Company Ltd
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 May 2024.
Directors
The directors who held office during the year were as follows:
Mrs Charis Kirby Appointed 01/09/2024
Mr Darcy Kirby
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Darcy Kirby
Director
27th February 2025
Page 2
Page 3
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of Darcha Estates Ltd for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Darcha Estates Ltd for the year ended 31 May 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Darcha Estates Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Darcha Estates Ltd and state those matters that we have agreed to state to the directors of Darcha Estates 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 Darcha Estates Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that Darcha Estates 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 or loss of Darcha Estates Ltd . You consider that Darcha Estates Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Darcha Estates 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 financial statements.
Signed
27th February 2025
Elsby and Company Ltd
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB
Page 3
Page 4
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 17,358 8,250
GROSS PROFIT 17,358 8,250
Administrative expenses (22,975 ) (5,432 )
OPERATING (LOSS)/PROFIT (5,617 ) 2,818
Fair value gains on investment properties 23,805 -
Interest payable and similar charges (6,677 ) (4,104 )
PROFIT/(LOSS) BEFORE TAXATION 11,511 (1,286 )
Tax on Profit/(loss) (622 ) -
PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR 10,889 (1,286 )
The notes on pages 8 to 10 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 168,000 144,195
168,000 144,195
CURRENT ASSETS
Cash at bank and in hand 4,352 1,320
4,352 1,320
Creditors: Amounts Falling Due Within One Year 5 (56,878 ) (43,752 )
NET CURRENT ASSETS (LIABILITIES) (52,526 ) (42,432 )
TOTAL ASSETS LESS CURRENT LIABILITIES 115,474 101,763
Creditors: Amounts Falling Due After More Than One Year 6 (112,200 ) (110,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (622 ) -
NET ASSETS/(LIABILITIES) 2,652 (8,237 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Fair value reserve 9 19,282 -
Profit and Loss Account (16,631 ) (8,238 )
SHAREHOLDERS' FUNDS 2,652 (8,237)
Page 5
Page 6
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Darcy Kirby
Director
27th February 2025
The notes on pages 8 to 10 form part of these financial statements.
Page 6
Page 7
Statement of Changes in Equity
Share Capital Fair value reserve Profit and Loss Account Total
£ £ £ £
As at 1 June 2022 1 - (6,952 ) (6,951)
Loss for the year and total comprehensive income - - (1,286 ) (1,286)
As at 31 May 2023 and 1 June 2023 1 - (8,238 ) (8,237)
Profit for the year and total comprehensive income - - 10,889 10,889
Transfer to/from Fair value reserve - - (19,282) (19,282)
Transfer to/from Profit & Loss Account - 19,282 - 19,282
As at 31 May 2024 1 19,282 (16,631 ) 2,652
Page 7
Page 8
Notes to the Financial Statements
1. General Information
Darcha Estates Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13463507 . The registered office is 9 Willow Brook Square, Northampton, Northamptonshire, NN3 5HD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents invoiced sales of services
2.3. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
Page 8
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4. Investment Property
2024
£
Fair Value
As at 1 June 2023 144,195
Revaluations 23,805
As at 31 May 2024 168,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 144,195 144,195
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Amounts owed to group undertakings (66 ) 648
Other creditors 56,944 43,104
56,878 43,752
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 112,200 110,000
7. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 112,200 110,000
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 9
Page 10
9. Reserves
Fair Value Reserve
£
Transfer to profit and loss 19,282
As at 31 May 2024 19,282
Page 10