IRIS Accounts Production v24.3.2.46 05838364 director 1.7.23 30.6.24 30.6.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh058383642023-06-30058383642024-06-30058383642023-07-012024-06-30058383642022-06-30058383642022-07-012023-06-30058383642023-06-3005838364ns15:EnglandWales2023-07-012024-06-3005838364ns14:PoundSterling2023-07-012024-06-3005838364ns10:Director12023-07-012024-06-3005838364ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3005838364ns10:SmallEntities2023-07-012024-06-3005838364ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3005838364ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3005838364ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3005838364ns10:FullAccounts2023-07-012024-06-3005838364ns10:OrdinaryShareClass12023-07-012024-06-3005838364ns10:RegisteredOffice2023-07-012024-06-3005838364ns5:CurrentFinancialInstruments2024-06-3005838364ns5:CurrentFinancialInstruments2023-06-3005838364ns5:Non-currentFinancialInstruments2024-06-3005838364ns5:Non-currentFinancialInstruments2023-06-3005838364ns5:ShareCapital2024-06-3005838364ns5:ShareCapital2023-06-3005838364ns5:RevaluationReserve2024-06-3005838364ns5:RevaluationReserve2023-06-3005838364ns5:RetainedEarningsAccumulatedLosses2024-06-3005838364ns5:RetainedEarningsAccumulatedLosses2023-06-3005838364ns5:FurnitureFittings2023-07-012024-06-3005838364ns5:FurnitureFittings2023-06-3005838364ns5:FurnitureFittings2024-06-3005838364ns5:FurnitureFittings2023-06-3005838364ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3005838364ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3005838364ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-06-3005838364ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-06-3005838364ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-06-3005838364ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-06-3005838364ns5:Secured2024-06-3005838364ns5:Secured2023-06-3005838364ns10:OrdinaryShareClass12024-06-3005838364ns5:RetainedEarningsAccumulatedLosses2023-06-3005838364ns5:RevaluationReserve2023-06-3005838364ns5:RetainedEarningsAccumulatedLosses2023-07-012024-06-30
REGISTERED NUMBER: 05838364 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

DEARWELL PROPERTIES LTD

DEARWELL PROPERTIES LTD (REGISTERED NUMBER: 05838364)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DEARWELL PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: E Weiser





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 05838364 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

DEARWELL PROPERTIES LTD (REGISTERED NUMBER: 05838364)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 885 1,042
Investment property 6 2,245,082 2,245,082
2,245,967 2,246,124

CURRENT ASSETS
Debtors 7 208,026 96,541
Cash at bank 20,293 130,592
228,319 227,133
CREDITORS
Amounts falling due within one year 8 (202,559 ) (190,130 )
NET CURRENT ASSETS 25,760 37,003
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,271,727

2,283,127

CREDITORS
Amounts falling due after more than one
year

9

(1,481,247

)

(1,483,483

)
NET ASSETS 790,480 799,644

CAPITAL AND RESERVES
Called up share capital 12 1 1
Revaluation reserve 13 753,354 753,354
Retained earnings 13 37,125 46,289
SHAREHOLDERS' FUNDS 790,480 799,644

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

DEARWELL PROPERTIES LTD (REGISTERED NUMBER: 05838364)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorized for issue by the director and authorised for issue on 18 March 2025 and were signed by:





E Weiser - Director


DEARWELL PROPERTIES LTD (REGISTERED NUMBER: 05838364)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Dearwell Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

DEARWELL PROPERTIES LTD (REGISTERED NUMBER: 05838364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023
and 30 June 2024 4,893
DEPRECIATION
At 1 July 2023 3,851
Charge for year 157
At 30 June 2024 4,008
NET BOOK VALUE
At 30 June 2024 885
At 30 June 2023 1,042

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 2,245,082
NET BOOK VALUE
At 30 June 2024 2,245,082
At 30 June 2023 2,245,082

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2017 753,354
Valuation in 2020 1,155,785
Valuation in 2021 55,521
Valuation in 2022 277,972
Valuation in 2023 2,450
2,245,082

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 6,826 7,341
Other debtors 201,200 89,200
208,026 96,541

DEARWELL PROPERTIES LTD (REGISTERED NUMBER: 05838364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other loans (see note 10) 59,240 59,240
Tax 9,354 6,205
Social security and other taxes 732 293
Other creditors 130,353 122,952
Accrued expenses 2,880 1,440
202,559 190,130

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans (see note 10) 1,481,247 1,483,483

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,464,749 1,464,749

10. LOANS

An analysis of the maturity of loans is given below:

30.6.24 30.6.23
£    £   
Amounts falling due within one year or on demand:
Other loans 59,240 59,240

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,498 18,734

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,464,749 1,464,749

11. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 1,481,247 1,483,483

Bank loans are secured by a first charge over company's investment properties and bear interest at variable rates.

DEARWELL PROPERTIES LTD (REGISTERED NUMBER: 05838364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1 Ordinary £1 1 1

13. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2023 46,289 753,354 799,643
Profit for the year 5,836 5,836
Dividends (15,000 ) (15,000 )
At 30 June 2024 37,125 753,354 790,479

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £15,000 (2023 - £25,000) were paid to the director .

15. ULTIMATE CONTROLLING PARTY

The controlling party is E Weiser.