REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st October 2024 |
for |
Dvk Properties Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st October 2024 |
for |
Dvk Properties Ltd |
Dvk Properties Ltd (Registered number: 13658118) |
Contents of the Financial Statements |
for the Year Ended 31st October 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Dvk Properties Ltd (Registered number: 13658118) |
Balance Sheet |
31st October 2024 |
31.10.24 | 31.10.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Dvk Properties Ltd (Registered number: 13658118) |
Notes to the Financial Statements |
for the Year Ended 31st October 2024 |
1. | COMPANY INFORMATION |
Dvk Properties Ltd is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
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. |
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. |
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any attributable expenditure. |
Subsequently it is measured at fair value at the reporting date. The surplus or deficit on revaluation is recognised in profit or loss. |
Where the fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Dvk Properties Ltd (Registered number: 13658118) |
Notes to the Financial Statements - continued |
for the Year Ended 31st October 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st November 2023 |
Revaluations | 8,000 |
At 31st October 2024 |
NET BOOK VALUE |
At 31st October 2024 |
At 31st October 2023 |
Investment property purchased on 17/10/2022, 2a Great Mersey Street, Liverpool, L5 7SU |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.24 | 31.10.23 |
£ | £ |
Directors' current accounts | 54,684 | 54,372 |
Accrued expenses |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.10.24 | 31.10.23 |
£ | £ |
Bank loans - 2-5 years |
Bank loan relates to a purchase of an investment property. The loan is repayable on demand and interest is to be charged monthly in arrears. |
The net obligation under Bank loans are secured against the investment property. |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.24 | 31.10.23 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
Ordinary | £1 | 1 | 1 |
2 | 2 |
The Ordinary Shares confer on the holders the right to vote upon any resolution proposed at any general meeting of the company. |
The Ordinary Shares rank pari passu in respect of dividend and capital distribution rights. |
Dvk Properties Ltd (Registered number: 13658118) |
Notes to the Financial Statements - continued |
for the Year Ended 31st October 2024 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31st October 2024 and 31st October 2023: |
31.10.24 | 31.10.23 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
The loan is repayable on demand and no interest was charged during the year. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mrs V Kotecha. |