DJK Properties Limited 08125790 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is rental of residential properties Digita Accounts Production Advanced 6.30.9574.0 true 08125790 2023-08-01 2024-07-31 08125790 2024-07-31 08125790 core:RetainedEarningsAccumulatedLosses 2024-07-31 08125790 core:RevaluationReserve 2024-07-31 08125790 core:ShareCapital 2024-07-31 08125790 core:SharePremium 2024-07-31 08125790 core:CurrentFinancialInstruments 2024-07-31 08125790 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 08125790 core:FurnitureFittingsToolsEquipment 2024-07-31 08125790 core:LandBuildings 2024-07-31 08125790 1 2024-07-31 08125790 bus:SmallEntities 2023-08-01 2024-07-31 08125790 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 08125790 bus:FullAccounts 2023-08-01 2024-07-31 08125790 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 08125790 bus:RegisteredOffice 2023-08-01 2024-07-31 08125790 bus:Director1 2023-08-01 2024-07-31 08125790 bus:Director2 2023-08-01 2024-07-31 08125790 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08125790 bus:Agent1 2023-08-01 2024-07-31 08125790 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 08125790 core:LandBuildings 2023-08-01 2024-07-31 08125790 core:OfficeEquipment 2023-08-01 2024-07-31 08125790 countries:England 2023-08-01 2024-07-31 08125790 1 2023-08-01 2024-07-31 08125790 2023-07-31 08125790 core:FurnitureFittingsToolsEquipment 2023-07-31 08125790 core:LandBuildings 2023-07-31 08125790 1 2023-07-31 08125790 2022-08-01 2023-07-31 08125790 2023-07-31 08125790 core:RetainedEarningsAccumulatedLosses 2023-07-31 08125790 core:RevaluationReserve 2023-07-31 08125790 core:ShareCapital 2023-07-31 08125790 core:SharePremium 2023-07-31 08125790 core:CurrentFinancialInstruments 2023-07-31 08125790 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 08125790 core:FurnitureFittingsToolsEquipment 2023-07-31 08125790 core:LandBuildings 2023-07-31 08125790 1 2023-07-31 08125790 1 2022-08-01 2023-07-31 08125790 1 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 08125790

DJK Properties Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 July 2024

 

DJK Properties Limited
(Registration number: 08125790)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

DJK Properties Limited
(Registration number: 08125790)

Company Information

Directors

Mr M H Gregory

Mrs C Gregory

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Bankers

Natwest Bank Plc

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

DJK Properties Limited
(Registration number: 08125790)

Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,000,040

2,000,080

Current assets

 

Debtors

5

69,702

15,975

Cash at bank and in hand

 

46,739

87,077

 

116,441

103,052

Creditors: Amounts falling due within one year

6

(27,607)

(21,400)

Net current assets

 

88,834

81,652

Total assets less current liabilities

 

2,088,874

2,081,732

Provisions for liabilities

(236,861)

(236,871)

Net assets

 

1,852,013

1,844,861

Capital and reserves

 

Called up share capital

100

100

Share premium reserve

600,000

600,000

Revaluation reserve

1,119,865

1,119,865

Profit and loss account

132,048

124,896

Total equity

 

1,852,013

1,844,861

For the financial year ending 31 July 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 year 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.

 

DJK Properties Limited
(Registration number: 08125790)

Balance Sheet as at 31 July 2024

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 March 2025 and signed on its behalf by:
 

.........................................
Mr M H Gregory
Director

 

DJK Properties Limited
(Registration number: 08125790)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

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.

Revenue recognition

Turnover represents the amounts chargeable in respect to rent receiveable 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

DJK Properties Limited
(Registration number: 08125790)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet 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

Furniture, fittings and equipment

33.33% straight line

Investment property

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below the original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

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.

 

DJK Properties Limited
(Registration number: 08125790)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

DJK Properties Limited
(Registration number: 08125790)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Investment property
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

2,000,000

469

2,000,469

At 31 July 2024

2,000,000

469

2,000,469

Depreciation

At 1 August 2023

-

389

389

Charge for the year

-

40

40

At 31 July 2024

-

429

429

Carrying amount

At 31 July 2024

2,000,000

40

2,000,040

At 31 July 2023

2,000,000

80

2,000,080

 

DJK Properties Limited
(Registration number: 08125790)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Included within the net book value of land and buildings above is £2,000,000 (2023 - £2,000,000) in respect of freehold land and buildings.
 

5

Debtors

2024
£

2023
£

Other debtors

65,657

15,582

Prepayments and accrued income

4,045

393

Total current trade and other debtors

69,702

15,975

6

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

24,868

19,191

Accrued expenses

2,739

2,209

27,607

21,400

7

Related party transactions

Transactions with directors

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Interest free loan

15,582

78,257

(48,183)

45,656

 

15,582

78,257

(48,183)

45,656

       

 

2023

At 1 August 2022
£

Repayments by director
£

At 31 July 2023
£

Interest free loan

38,214

(22,632)

15,582

 

38,214

(22,632)

15,582