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Registered number: 11772366









DISDALE PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
DISDALE PROPERTIES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DISDALE PROPERTIES LIMITED
FOR THE YEAR ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Disdale Properties Limited for the year ended 30 April 2024 which comprise the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm 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 https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Disdale Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Disdale Properties Limited and state those matters that we have agreed to state to the Board of Directors of Disdale Properties Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Disdale Properties Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Disdale Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Disdale Properties Limited. You consider that Disdale Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Disdale Properties Limited. 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 statutory financial statements.

  



Harris & Trotter LLP
 
101 New Cavendish Street
1st Floor South
London
W1W 6XH
19 March 2025
Page 1

 
DISDALE PROPERTIES LIMITED
REGISTERED NUMBER: 11772366

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
21,671
28,894

Investments
 5 
1,429,008
1,429,008

Investment property
 6 
6,167,422
6,141,469

  
7,618,101
7,599,371

Current assets
  

Debtors: amounts falling due within one year
 7 
609,272
605,013

Cash at bank and in hand
 8 
4,558
10,272

  
613,830
615,285

Creditors: amounts falling due within one year
 9 
(2,933,871)
(2,651,121)

Net current liabilities
  
 
 
(2,320,041)
 
 
(2,035,836)

Total assets less current liabilities
  
5,298,060
5,563,535

Creditors: amounts falling due after more than one year
 10 
(272,540)
(292,523)

  

Net assets
  
5,025,520
5,271,012


Capital and reserves
  

Called up share capital 
 12 
5,061,100
5,061,100

Revaluation reserve
  
562,332
562,332

Profit and loss account
  
(597,912)
(352,420)

  
5,025,520
5,271,012


Page 2

 
DISDALE PROPERTIES LIMITED
REGISTERED NUMBER: 11772366
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

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 by: 




................................................
Terence Disdale
................................................
Daniela Zulli
Director
Director


Date: 19 March 2025
Date:19 March 2025

The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
DISDALE PROPERTIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 May 2022
5,061,100
562,332
130
5,623,562



Profit for the year
-
-
235,950
235,950

Dividends: Equity capital
-
-
(588,500)
(588,500)



At 1 May 2023
5,061,100
562,332
(352,420)
5,271,012



Loss for the year
-
-
(245,492)
(245,492)


At 30 April 2024
5,061,100
562,332
(597,912)
5,025,520


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Disdale Properties Limited is a private Company limited by shares and incorporated in England and Wales. The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.
The principal activity of the Company is that of a holding Company and property investment.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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 6

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

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.

 
2.11

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.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 7

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 May 2023
57,518



At 30 April 2024

57,518



Depreciation


At 1 May 2023
28,624


Charge for the year on owned assets
7,223



At 30 April 2024

35,847



Net book value



At 30 April 2024
21,671



At 30 April 2023
28,894


5.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 May 2023
1,269,100
159,908
1,429,008



At 30 April 2024
1,269,100
159,908
1,429,008




Page 8

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
6,141,469


Additions at cost
25,953



At 30 April 2024
6,167,422

The 2024 valuations were made by Directors of the company, on an open market value for existing use basis.
Additions in the year are in respect of improvements. 



At 30 April 2024





7.


Debtors

2024
2023
£
£


Trade debtors
-
1,933

Amounts owed by group undertakings
594,687
594,940

Other debtors
-
573

Prepayments and accrued income
14,585
7,567

609,272
605,013



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
4,558
10,272

4,558
10,272


Page 9

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
29,017
41,192

Trade creditors
19,339
6,909

Amounts owed to group undertakings
2,878,441
2,601,334

Other creditors
805
258

Accruals and deferred income
6,269
1,428

2,933,871
2,651,121



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
272,540
292,523

272,540
292,523



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
29,017
41,192


29,017
41,192

Amounts falling due 1-2 years

Bank loans
272,540
292,523


272,540
292,523



301,557
333,715


Page 10

 
DISDALE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



5,061,100 (2023 - 5,061,100) Ordinary B shares of £1.00 each
5,061,100
5,061,100


 
Page 11