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Registration number: 01614881

Down-At-Heel Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Down-At-Heel Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Down-At-Heel Limited

Company Information

Director

Mr M Moran

Company secretary

Mrs R Moran

Registered office

36a Leeds Road
Ilkley
West Yorkshire
LS29 8DS

 

Down-At-Heel Limited

(Registration number: 01614881)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

211

248

Investment property

5

300,000

300,000

 

300,211

300,248

Current assets

 

Cash at bank and in hand

 

3,421

835

Creditors: Amounts falling due within one year

6

(2,844)

(2,698)

Net current assets/(liabilities)

 

577

(1,863)

Total assets less current liabilities

 

300,788

298,385

Provisions for liabilities

(52,962)

(52,969)

Net assets

 

247,826

245,416

Capital and reserves

 

Called up share capital

4

4

Revaluation reserve

225,613

225,613

Retained earnings

22,209

19,799

Shareholders' funds

 

247,826

245,416

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 Director acknowledges his 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 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. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 March 2025
 

 

Down-At-Heel Limited

(Registration number: 01614881)
Balance Sheet as at 31 January 2025

.........................................
Mr M Moran
Director

 

Down-At-Heel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

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

The address of its registered office is:
36a Leeds Road
Ilkley
West Yorkshire
LS29 8DS

These financial statements were authorised for issue by the director on 25 March 2025.

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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 financial statements cover the individual entity, Down at Heel Limited.

The financial statements have been prepared in pound sterling and are rounded to the nearest pound sterling.

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.

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.

 

Down-At-Heel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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

Office Equipment

15% Reducing balance

Investment property

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRS 102A, as follows:

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 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.

This treatment with regards to the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, the treatment is necessary to give a true and fair view in accordance with the FRS 102A including Section 1A.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Down-At-Heel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2024

475

475

At 31 January 2025

475

475

Depreciation

At 1 February 2024

227

227

Charge for the year

37

37

At 31 January 2025

264

264

Carrying amount

At 31 January 2025

211

211

At 31 January 2024

248

248

5

Investment properties

2025
£

At 1 February

300,000

At 31 January

300,000

Fair value at 31 January 2023 is represented by:

Valuation in 2014

234,750

Valuation in 2020

20,250

Valuation in 2022

45,000

300,000

36A Leeds Road was valued on an open market basis on 31 January 2025 by the director.

 

Down-At-Heel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

36

11

Taxation and social security

 

1,558

1,524

Accruals and deferred income

 

1,250

1,163

 

2,844

2,698