REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2024 |
for |
Deas Property Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2024 |
for |
Deas Property Ltd |
Deas Property Ltd (Registered number: 11378004) |
Contents of the Financial Statements |
for the Year Ended 30 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Deas Property Ltd |
Company Information |
for the Year Ended 30 September 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
255 - 261 Horn Lane |
London |
W3 9EH |
Deas Property Ltd (Registered number: 11378004) |
Balance Sheet |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non-distributable reserve | 10 |
Retained earnings | ( |
) | ( |
) |
The director acknowledges his 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. |
Deas Property Ltd (Registered number: 11378004) |
Balance Sheet - continued |
30 September 2024 |
The financial statements were approved by the director and authorised for issue on |
Deas Property Ltd (Registered number: 11378004) |
Notes to the Financial Statements |
for the Year Ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Deas Property Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Rental income is recognised on an accrual basis. Rents receivable from tenants represents rents and service charges receivable in the period. |
Where a rent-free period is included in a lease, the rental income foregone is allocated evenly over the |
period from the date of lease commencement to the earliest termination date. |
Rental income from fixed and minimum guaranteed rent reviews is recognised on a straight-line basis over the shorter of the entire lease term or the period to the first break option. Where such rental income is recognised ahead of the related cash flow, an adjustment is made to ensure the carrying value of the related property including the accrued rent does not exceed the external valuation. Initial direct costs incurred in negotiating and arranging a new lease are amortised on a straight-line basis over the period from the date of lease commencement to the earliest termination date. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. |
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. |
Deas Property Ltd (Registered number: 11378004) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
2. | ACCOUNTING POLICIES - continued |
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. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 October 2023 |
and 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2023 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
The valuation of investment properties were made as at 30 September 2024 by the directors on an open market basis. No depreciation is provided in respect of these properties. |
Deas Property Ltd (Registered number: 11378004) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
Directors' current accounts | 15,562 | - |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Tax |
Other creditors |
Directors' current accounts | - | 1,171 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans (see note 9) |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more 5yrs non-inst |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due between one and two years: |
Bank loan | 33,673 | 38,969 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more 5yrs non-inst | 924,933 | 941,735 |
10. | RESERVES |
Non-distributable |
reserve |
£ |
At 1 October 2023 |
and 30 September 2024 |