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Registration number: 15320448

Daves Real Estate Limited

Unaudited Filleted Financial Statements

for the Period from 30 November 2023 to 30 November 2024

 

Daves Real Estate Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Daves Real Estate Limited

Company Information

Directors

Ms D Dave

Ms R Dave

Registered office

Balppa House
57-61 Newington Causeway
London
England
SE1 6BD

Accountants

Innovi Advisors Ltd
Chartered Certified Accountants163 Herne Hill
London
SE24 9LR

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Daves Real Estate Limited
for the Period Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Daves Real Estate Limited for the period ended 30 November 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Daves Real Estate 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 accounts of Daves Real Estate Limited and state those matters that we have agreed to state to the Board of Directors of Daves Real Estate Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Daves Real Estate Limited and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Daves Real Estate 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 accounts.

......................................

Innovi Advisors Ltd
Chartered Certified Accountants
163 Herne Hill
London
SE24 9LR

20 March 2025

 

Daves Real Estate Limited

(Registration number: 15320448)
Statement of Financial Position as at 30 November 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

1,333

Investment property

5

902,248

 

903,581

Current assets

 

Debtors

6

2,500

Cash at bank and in hand

 

9,151

 

11,651

Creditors: Amounts falling due within one year

7

(12,577)

Net current liabilities

 

(926)

Total assets less current liabilities

 

902,655

Creditors: Amounts falling due after more than one year

7

(908,898)

Net liabilities

 

(6,243)

Capital and reserves

 

Called up share capital

8

2

Retained earnings

(6,245)

Shareholders' deficit

 

(6,243)

 

Daves Real Estate Limited

(Registration number: 15320448)
Statement of Financial Position as at 30 November 2024 (continued)

For the financial period ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 20 March 2025 and signed on its behalf by:
 

Ms D Dave
Director

Ms R Dave
Director

 
     
 

Daves Real Estate Limited

Notes to the Unaudited Financial Statements for the Period from 30 November 2023 to 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Balppa House
57-61 Newington Causeway
London
England
SE1 6BD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Daves Real Estate Limited

Notes to the Unaudited Financial Statements for the Period from 30 November 2023 to 30 November 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipments

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Daves Real Estate Limited

Notes to the Unaudited Financial Statements for the Period from 30 November 2023 to 30 November 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 1.

 

Daves Real Estate Limited

Notes to the Unaudited Financial Statements for the Period from 30 November 2023 to 30 November 2024 (continued)

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

Additions

1,557

1,557

At 30 November 2024

1,557

1,557

Depreciation

Charge for the period

224

224

At 30 November 2024

224

224

Carrying amount

At 30 November 2024

1,333

1,333

5

Investment properties

2024
£

Additions

902,248

At 30 November

902,248

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

Other debtors

2,500

 

2,500

 

Daves Real Estate Limited

Notes to the Unaudited Financial Statements for the Period from 30 November 2023 to 30 November 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Accruals and deferred income

1,080

Other creditors

11,497

12,577

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

9

578,898

Other non-current financial liabilities

 

330,000

 

908,898

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £1 each

2

2

   

During the period, the company issued 2 Ordinary shares of £1 each.

9

Loans and borrowings

Non-current loans and borrowings

2024
£

Hire purchase contracts

578,898