REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
DOWNLAND PROPERTY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
DOWNLAND PROPERTY LIMITED |
DOWNLAND PROPERTY LIMITED (REGISTERED NUMBER: 08550850) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 3 |
DOWNLAND PROPERTY LIMITED (REGISTERED NUMBER: 08550850) |
BALANCE SHEET |
31 MAY 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his 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. |
DOWNLAND PROPERTY LIMITED (REGISTERED NUMBER: 08550850) |
BALANCE SHEET - continued |
31 MAY 2024 |
The financial statements were approved by the director and authorised for issue on |
DOWNLAND PROPERTY LIMITED (REGISTERED NUMBER: 08550850) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | GENERAL INFORMATION |
Downland Property Limited is a |
Registered number: |
Registered office: |
Downland Property Limited is a private company (limited by shares) which is incorporated and domiciled in England and Wales. |
The principal activity of the company continued to be that of a property management company. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The following principal accounting policies have been applied: |
Going concern |
The director considers the going concern basis to be appropriate having paid due regard to the company’s projected results during the twelve months from the date the financial statements are approved and the anticipated cash flows, availability of bank facilities and mitigating actions that can be taken during that period. |
Having regard to the above, the director believes it is appropriate to adopt the going concern basis of accounting in preparing the financial statements. The financial statements do not include any adjustments that would result from a withdrawal of the support outlined above. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes |
Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to related parties. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
DOWNLAND PROPERTY LIMITED (REGISTERED NUMBER: 08550850) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Tax recoverable |
Prepayments |
Tax recoverable includes £34,615 (2023: £34,615) due from HMRC for prior year s455 corporation tax. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Accruals |
6. | RELATED PARTY TRANSACTIONS |
At the year end £13,730 (2023: £8,364) was due from the company owner; this is included within Other debtors. |
At the year end £35,186 was due to the company by the company owner's children regarding rental income received by the company less rental expenses paid by the company (2023: £42,798). This is included within Other debtors. |
At the year end £109,502 (2023: £109,502) was due by the company to Levant Holdings S.A., an entity owned by the company's director. |