IRIS Accounts Production v24.3.2.46 02749043 Board of Directors 1.1.24 31.12.24 31.12.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh027490432023-12-31027490432024-12-31027490432024-01-012024-12-31027490432022-12-31027490432023-01-012023-12-31027490432023-12-3102749043ns15:EnglandWales2024-01-012024-12-3102749043ns14:PoundSterling2024-01-012024-12-3102749043ns10:Director12024-01-012024-12-3102749043ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3102749043ns10:SmallEntities2024-01-012024-12-3102749043ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3102749043ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3102749043ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3102749043ns10:FullAccounts2024-01-012024-12-3102749043ns10:Director22024-01-012024-12-3102749043ns10:RegisteredOffice2024-01-012024-12-3102749043ns5:CurrentFinancialInstruments2024-12-3102749043ns5:CurrentFinancialInstruments2023-12-3102749043ns5:Non-currentFinancialInstruments2024-12-3102749043ns5:Non-currentFinancialInstruments2023-12-3102749043ns5:ShareCapital2024-12-3102749043ns5:ShareCapital2023-12-3102749043ns5:FurtherSpecificReserve1ComponentTotalEquity2024-12-3102749043ns5:FurtherSpecificReserve1ComponentTotalEquity2023-12-3102749043ns5:RetainedEarningsAccumulatedLosses2024-12-3102749043ns5:RetainedEarningsAccumulatedLosses2023-12-3102749043ns5:FurnitureFittings2024-01-012024-12-3102749043ns5:FurnitureFittings2023-12-3102749043ns5:FurnitureFittings2024-12-3102749043ns5:FurnitureFittings2023-12-3102749043ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3102749043ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3102749043ns5:Secured2024-12-3102749043ns5:Secured2023-12-3102749043ns5:DeferredTaxation2023-12-3102749043ns5:DeferredTaxation2024-12-3102749043ns5:RetainedEarningsAccumulatedLosses2023-12-3102749043ns5:FurtherSpecificReserve1ComponentTotalEquity2023-12-3102749043ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-31
REGISTERED NUMBER: 02749043 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DEZ PROPERTIES LIMITED

DEZ PROPERTIES LIMITED (REGISTERED NUMBER: 02749043)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DEZ PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mrs S Liasi
Mr L Liasi





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 02749043 (England and Wales)





ACCOUNTANTS: AC Partners Professional Services Ltd
Chartered Accountants
869 High Road
London
N12 8QA

DEZ PROPERTIES LIMITED (REGISTERED NUMBER: 02749043)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 495 619
Investment property 5 3,718,000 3,718,000
3,718,495 3,718,619

CURRENT ASSETS
Debtors 6 15,137 7,838
Cash at bank 122,624 81,806
137,761 89,644
CREDITORS
Amounts falling due within one year 7 76,195 67,234
NET CURRENT ASSETS 61,566 22,410
TOTAL ASSETS LESS CURRENT LIABILITIES 3,780,061 3,741,029

CREDITORS
Amounts falling due after more than one year 8 (102,104 ) (117,269 )

PROVISIONS FOR LIABILITIES 10 (605,886 ) (605,886 )
NET ASSETS 3,072,071 3,017,874

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings - unrealised 11 2,267,380 2,267,380
Retained earnings 11 804,591 750,394
3,072,071 3,017,874

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:





Mr L Liasi - Director


DEZ PROPERTIES LIMITED (REGISTERED NUMBER: 02749043)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Dez Properties Limited 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.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER
Turnover comprises rental income receivable by the company during the year. Any amounts received in advance or arrears are included in debtors or creditors as applicable.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Any lease incentives are spread on a straight-line basis over the lease term.

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 - 20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

INVESTMENT PROPERTY
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

FINANCIAL INSTRUMENTS
Financial assets and financial liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of instrument.

Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances are initially measured at transaction price including transaction cost and are subsequently carried at amortised cost using the effective interest method.

Impairment
Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the currying amount would have been, had the impairment not previously been recognised.The impairment reversal is recognised in profit or loss.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


DEZ PROPERTIES LIMITED (REGISTERED NUMBER: 02749043)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
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 substantially 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 substantially enacted by the year end and that are expected to apply to the reversal of the timing difference.

Capital gains tax on uncrystallised gains on property investments is provided in the financial statements using the tax rates and laws that have been enacted or substantially enacted by the balance sheet date.

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.

PROVISIONS
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the account can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2024
and 31 December 2024 5,965
DEPRECIATION
At 1 January 2024 5,346
Charge for year 124
At 31 December 2024 5,470
NET BOOK VALUE
At 31 December 2024 495
At 31 December 2023 619

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 3,718,000
NET BOOK VALUE
At 31 December 2024 3,718,000
At 31 December 2023 3,718,000

The Investment Properties have been valued by the directors on 31 December 2024. The above valuations were on an open market value for existing use basis which is considered by the directors to represent a fair approximation of the fair value of the company's Investment Properties.

DEZ PROPERTIES LIMITED (REGISTERED NUMBER: 02749043)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2024 is represented by:
£   
Valuation in 1996 400,845
Valuation in 2004 616,652
Valuation in 2010 209,387
Valuation in 2015 1,610,319
Valuation in 2016 613,062
Valuation in 2017 (320,000 )
Valuation in 2019 (350,000 )
Valuation in 2020 163,000
Valuation in 2021 (70,000 )
Cost 844,735
3,718,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,040 2,040
Other debtors 13,097 5,798
15,137 7,838

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 19,448 18,763
Trade creditors 420 420
Taxation and social security 32,632 26,256
Other creditors 23,695 21,795
76,195 67,234

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 102,104 117,269

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 24,311 42,217

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 121,552 136,032

The above debts are secured by a fixed and floating charge over all company assets.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 605,886 605,886

DEZ PROPERTIES LIMITED (REGISTERED NUMBER: 02749043)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 605,886
Balance at 31 December 2024 605,886

Capital gains tax on uncrystallised gains on investment properties is provided in the financial statements as shown above.

11. RESERVES
Retained
Retained earnings
earnings - unrealised Totals
£    £    £   

At 1 January 2024 750,394 2,267,380 3,017,774
Profit for the year 106,297 106,297
Dividends (52,100 ) (52,100 )
At 31 December 2024 804,591 2,267,380 3,071,971