Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01falseletting and operating of own or leased real estate22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03704011 2023-07-01 2024-06-30 03704011 2022-07-01 2023-06-30 03704011 2024-06-30 03704011 2023-06-30 03704011 2022-07-01 03704011 c:Director1 2023-07-01 2024-06-30 03704011 d:FurnitureFittings 2023-07-01 2024-06-30 03704011 d:FurnitureFittings 2024-06-30 03704011 d:FurnitureFittings 2023-06-30 03704011 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03704011 d:OfficeEquipment 2023-07-01 2024-06-30 03704011 d:OfficeEquipment 2024-06-30 03704011 d:OfficeEquipment 2023-06-30 03704011 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03704011 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03704011 d:FreeholdInvestmentProperty 2024-06-30 03704011 d:FreeholdInvestmentProperty 2023-06-30 03704011 d:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 03704011 d:CurrentFinancialInstruments 2024-06-30 03704011 d:CurrentFinancialInstruments 2023-06-30 03704011 d:Non-currentFinancialInstruments 2024-06-30 03704011 d:Non-currentFinancialInstruments 2023-06-30 03704011 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 03704011 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 03704011 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 03704011 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 03704011 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 03704011 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 03704011 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 03704011 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 03704011 d:ShareCapital 2024-06-30 03704011 d:ShareCapital 2023-06-30 03704011 d:RevaluationReserve 2024-06-30 03704011 d:RevaluationReserve 2023-06-30 03704011 d:RetainedEarningsAccumulatedLosses 2024-06-30 03704011 d:RetainedEarningsAccumulatedLosses 2023-06-30 03704011 c:FRS102 2023-07-01 2024-06-30 03704011 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03704011 c:FullAccounts 2023-07-01 2024-06-30 03704011 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03704011 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 03704011 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 03704011 d:TaxLossesCarry-forwardsDeferredTax 2024-06-30 03704011 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 03704011 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 03704011










DERRI PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
DERRI PROPERTIES LIMITED
REGISTERED NUMBER:03704011

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,627
5,825

Investment property
 5 
9,500,000
7,914,144

  
9,504,627
7,919,969

Current assets
  

Debtors: amounts falling due within one year
 6 
567,902
718,589

Cash at bank and in hand
  
10,593
10,077

  
578,495
728,666

Creditors: amounts falling due within one year
 7 
(1,256,347)
(1,322,609)

Net current liabilities
  
 
 
(677,852)
 
 
(593,943)

Total assets less current liabilities
  
8,826,775
7,326,026

Creditors: amounts falling due after more than one year
 8 
(2,130,506)
(2,140,752)

Provisions for liabilities
  

Deferred tax
 10 
(1,627,573)
(994,020)

  
 
 
(1,627,573)
 
 
(994,020)

Net assets
  
5,068,696
4,191,254


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Revaluation reserve
  
6,164,473
4,578,617

Profit and loss account
  
(1,096,777)
(388,363)

  
5,068,696
4,191,254


Page 1

 
DERRI PROPERTIES LIMITED
REGISTERED NUMBER:03704011
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 March 2025.


R Taylor
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
DERRI PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Derri Properties Limited is a private company limited by shares. The company is incorporated in England and Wales, registered number 03704011. The registered office is 10 Queen Street Place, London, EC4R
1AG.
The principal activity of the company is ownership and property letting.
The functional and presentational currency is GBP. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue represents rental income due less payments received in advance. 

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
10% straight line
Office equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 
DERRI PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost


At 1 July 2023
11,978
7,605
19,583



At 30 June 2024

11,978
7,605
19,583



Depreciation


At 1 July 2023
6,153
7,605
13,758


Charge for the year
1,198
-
1,198



At 30 June 2024

7,351
7,605
14,956



Net book value



At 30 June 2024
4,627
-
4,627



At 30 June 2023
5,825
-
5,825

Page 4

 
DERRI PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
7,914,144


Surplus on revaluation
1,585,856



At 30 June 2024
9,500,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.




6.


Debtors

2024
2023
£
£


Other debtors
567,902
718,589



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,246
9,994

Other loans
183,000
183,000

Trade creditors
1,320
1,200

Corporation tax
-
2,950

Other creditors
1,049,128
1,118,084

Accruals
12,653
7,381

1,256,347
1,322,609


The Bank loan is guaranteed by the UK Government as part of the Bounce Back Loan Scheme (BBLS). An interest rate of 2.5% applies to the loan balance, with the goverment covering the first year of interest charges.

Page 5

 
DERRI PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
10,506
20,752

Other loans
2,120,000
2,120,000

2,130,506
2,140,752


The other loan is secured with fixed and floating charges over the property portfolio owned by the company. The loan is due for repayment 5 years from the first drawdown. 


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,246
9,994

Other loans
183,000
183,000


193,246
192,994

Amounts falling due 1-2 years

Bank loans
10,506
10,246

Amounts falling due 2-5 years

Bank loans
-
10,506

Other loans
2,120,000
2,120,000


2,323,752
2,333,746


Page 6

 
DERRI PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
(994,020)
(994,020)


Charged to profit or loss
(633,553)
-



At end of year
(1,627,573)
(994,020)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Capital gains
(1,663,652)
(994,020)

Losses and other deductions
36,079
-

(1,627,573)
(994,020)


11.


Related party transactions

Included within creditors is £73,496 (2023: £72,074) due to Bells Southfields Limited, £24,171 (2023: £24,171) due to Ashley Park Capital Ltd, £22,977 (2023: £22,977) due to Commercial Holdings 496 Limited, £102,125 (2023: £128,968) due to LAT Properties Limited,  all companies under the control of a director of the company. Also, included in creditors is £580,279 (2023: £599,169) due to a director.
Included within debtors is £6,867 (2023: £6,867) due from Dunoon Estates Limited, £78,202 (2023: £78,202) due from Enfranchise 496 Limited, £207,535 (2023: £332,508) due from London and Continental Securities Limited and £177,346 (2023: £177,346) due from Altonville Properties Limited, all companies under the control of a director of the company.

 
Page 7