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DRD Property Services Ltd

Registered Number
12040948
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

DRD Property Services Ltd
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

Dawes, Richard

Registered Address

1-2 The Grange High Street
Westerham
TN16 1AH

Registered Number

12040948 (England and Wales)
DRD Property Services Ltd
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets341,33849,606
Investment property4189,850171,500
231,188221,106
Current assets
Debtors510,000-
Current asset investments622,59922,599
Cash at bank and on hand46,666528
79,26523,127
Creditors amounts falling due within one year7(41,626)(29,218)
Net current assets (liabilities)37,639(6,091)
Total assets less current liabilities268,827215,015
Creditors amounts falling due after one year8(86,206)(94,277)
Provisions for liabilities9(17,616)(12,230)
Net assets165,005108,508
Capital and reserves
Called up share capital100100
Profit and loss account164,905108,408
Shareholders' funds10165,005108,508
The financial statements were approved and authorised for issue by the Director on 10 March 2025, and are signed on its behalf by:
Dawes, Richard
Director
Registered Company No. 12040948
DRD Property Services Ltd
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
2.Average number of employees

20242023
Average number of employees during the year00
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 July 2382,67882,678
At 30 June 2482,67882,678
Amortisation and impairment
At 01 July 2333,07233,072
Charge for year8,2688,268
At 30 June 2441,34041,340
Net book value
At 30 June 2441,33841,338
At 30 June 2349,60649,606
4.Investment property
The investment property was revalued at fair value at the year end by the director.

£
Fair value at 01 July 23171,500
Fair value adjustments18,350
At 30 June 24189,850
5.Debtors: amounts due within one year

2024

2023

££
Other debtors10,000-
Total10,000-
6.Current asset investments
The current asset investment is an investment into FMCG Consultancy. The director has confirmed the value of the investment is unchanged in the year.
7.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts4,300-
Taxation and social security14,391-
Other creditors21,73528,393
Accrued liabilities and deferred income1,200825
Total41,62629,218
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts86,20694,277
Total86,20694,277
The long term creditors repayable after five years are £90,506 (2023 £94,277).
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)17,61612,230
Total17,61612,230
10.Fair value reserve
The fair value consists of non-distributable reserves at the year end.

£
Fair value reserve at 01 July 2374,367
Transferred in period18,350
At 30 June 2492,717