Company registration number 01810851 (England and Wales)
DEE GEE PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
DEE GEE PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
DEE GEE PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
62,837
73,927
Investment properties
4
5,754,017
5,754,017
5,816,854
5,827,944
Current assets
Debtors
6
12,918
12,650
Cash at bank and in hand
59,599
118,198
72,517
130,848
Creditors: amounts falling due within one year
5
(485,729)
(365,140)
Net current liabilities
(413,212)
(234,292)
Total assets less current liabilities
5,403,642
5,593,652
Provisions for liabilities
(588,693)
(588,693)
Net assets
4,814,949
5,004,959
Capital and reserves
Called up share capital
7
2,160
2,160
Profit and loss reserves
4,812,789
5,002,799
Total equity
4,814,949
5,004,959
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 March 2025 and are signed on its behalf by:
S G Bensusan
Director
Company Registration No. 01810851
DEE GEE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Dee Gee Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is East Wing, Goffs Oak House, Goffs Lane, Goffs Oak, Hertfordshire, EN7 5GE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rental income generated from investment properties in the normal course of business and is shown net of VAT.
The company recognises revenue on a straight line basis over the term of the lease agreement.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% on reducing balance
Computer equipment
15% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
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 directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
1.5
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
DEE GEE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
3
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
113,373
664
114,037
Depreciation and impairment
At 1 April 2023
39,525
585
40,110
Depreciation charged in the year
11,078
12
11,090
At 31 March 2024
50,603
597
51,200
Carrying amount
At 31 March 2024
62,770
67
62,837
At 31 March 2023
73,848
79
73,927
4
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
5,754,017
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
31,759
39,010
Other creditors
453,970
326,130
485,729
365,140
DEE GEE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
2,762
Prepayments and accrued income
12,918
9,888
12,918
12,650
7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
A Income shares of £1 each
300
300
B Income shares of £1 each
300
300
C Income shares of £1 each
300
300
D Income shares of £1 each
15
15
E Income shares of £1 each
15
15
F Income shares of £1 each
15
15
G Income shares of £1 each
15
15
B & C Capital shares (300 per class) of £1 each
600
600
D,E,F & G Capital shares (150 per class) of £1 each
600
600
2,160
2,160