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COMPANY REGISTRATION NUMBER: 11608326
DSD HOMES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2024
DSD HOMES LTD
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
CONTENTS
PAGE
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
5
The following pages do not form part of the financial statements
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
9
DSD HOMES LTD
DIRECTORS' REPORT
YEAR ENDED 31 MARCH 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2024 .
PRINCIPAL ACTIVITIES
The principal activity of the company during the year was property rental services.
DIRECTORS
The directors who served the company during the year were as follows:
Dr D Dhanjal
Mrs S Dhanjal
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 28 March 2025 and signed on behalf of the board by:
Dr D Dhanjal
Director
Registered office:
81 Holt Park Crescent
Leeds
LS16 7SL
DSD HOMES LTD
STATEMENT OF INCOME AND RETAINED EARNINGS
YEAR ENDED 31 MARCH 2024
2024
2023
Note
£
£
TURNOVER
9,000
6,420
-------
-------
GROSS PROFIT
9,000
6,420
Administrative expenses
4,091
2,588
-------
-------
OPERATING PROFIT
4,909
3,832
Interest payable and similar expenses
15,985
7,776
--------
-------
LOSS BEFORE TAXATION
4
( 11,076)
( 3,944)
Tax on loss
--------
-------
LOSS FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME
( 11,076)
( 3,944)
--------
-------
RETAINED LOSSES AT THE START OF THE YEAR
( 4,002)
( 58)
--------
-------
RETAINED LOSSES AT THE END OF THE YEAR
( 15,078)
( 4,002)
--------
-------
All the activities of the company are from continuing operations.
DSD HOMES LTD
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
5
301,381
299,416
CURRENT ASSETS
Debtors
6
463
463
Cash at bank and in hand
6,931
4,994
-------
-------
7,394
5,457
CREDITORS: amounts falling due within one year
7
275,736
258,607
----------
----------
NET CURRENT LIABILITIES
268,342
253,150
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
33,039
46,266
CREDITORS: amounts falling due after more than one year
8
48,113
50,264
--------
--------
NET LIABILITIES
( 15,074)
( 3,998)
--------
--------
CAPITAL AND RESERVES
Called up share capital
4
4
Profit and loss account
( 15,078)
( 4,002)
--------
-------
SHAREHOLDERS FUNDS
( 15,074)
( 3,998)
--------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DSD HOMES LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
Dr D Dhanjal
Director
Company registration number: 11608326
DSD HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 81 Holt Park Crescent, Leeds, LS16 7SL.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.'
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on a historical cost basis. The financial statements have been prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Revenue is income from rents receivable and is recognised in accordance with the agreed terms of the relevant lease agreements.
(d) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(e) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
Depreciated over the useful life of the asset
(f) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(g) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. PROFIT BEFORE TAXATION
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
1,035
1,035
-------
-------
5. TANGIBLE ASSETS
Freehold property
Long leasehold property
Total
£
£
£
Cost
At 1 April 2023
192,033
111,523
303,556
Additions
3,000
3,000
----------
----------
----------
At 31 March 2024
195,033
111,523
306,556
----------
----------
----------
Depreciation
At 1 April 2023
4,140
4,140
Charge for the year
1,035
1,035
----------
----------
----------
At 31 March 2024
5,175
5,175
----------
----------
----------
Carrying amount
At 31 March 2024
195,033
106,348
301,381
----------
----------
----------
At 31 March 2023
192,033
107,383
299,416
----------
----------
----------
6. DEBTORS
2024
2023
£
£
Corporation tax repayable
463
463
----
----
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,473
4,473
Accruals and deferred income
1,234
1,213
Directors loan account
270,029
252,921
----------
----------
275,736
258,607
----------
----------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
48,113
50,264
--------
--------
9. RELATED PARTY TRANSACTIONS
The director made available a loan to the company during the year. This loan incurred interest every month in line with the Bank of England base rate and is repayable on demand . At the year end the balance of this loan was £ 270,029 (2023: £ 252,921 ).
DSD HOMES LTD
MANAGEMENT INFORMATION
YEAR ENDED 31 MARCH 2024
The following pages do not form part of the financial statements.
DSD HOMES LTD
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DSD HOMES LTD
YEAR ENDED 31 MARCH 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DSD Homes Ltd for the year ended 31 March 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of DSD Homes Ltd, as a body, in accordance with the terms of our engagement letter dated 9 November 2018. Our work has been undertaken solely to prepare for your approval the financial statements of DSD Homes Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DSD Homes Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that DSD Homes Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of DSD Homes Ltd. You consider that DSD Homes Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of DSD Homes Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
PFM TOWNENDS LLP Chartered Accountants
Fulford Lodge 1 Heslington Lane Fulford York YO10 4HW
28 March 2025