Company registration number:
06572491
DLS Investments Limited
Filleted financial statements
30 September 2024
DLS Investments Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
DLS Investments Limited
Directors and other information
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Director |
GWL Brewis |
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Company number |
06572491 |
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Registered office |
Occupation Lane |
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Gonerby Moor |
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Grantham |
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Lincolnshire |
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NG32 2BP |
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Business address |
Occupation Lane |
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Gonerby Moor |
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Grantham |
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Lincolnshire |
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NG32 2BP |
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Auditor |
Just Audit Limited |
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Strelley Hall |
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Main Street |
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Strelley |
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Nottingham |
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NG8 6PE |
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Accountants |
Coulter & Co |
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Pera Business Park |
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M03 Tower Building |
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Nottingham Road |
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Melton Mowbray |
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LE13 0PB |
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DLS Investments Limited
Statement of financial position
30 September 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
1,515,299 |
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1,559,687 |
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_______ |
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_______ |
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1,515,299 |
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1,559,687 |
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Current assets |
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Debtors |
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6 |
14,500 |
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14,500 |
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Cash at bank and in hand |
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6,256 |
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47,240 |
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_______ |
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_______ |
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20,756 |
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61,740 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
300,579) |
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(
465,709) |
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_______ |
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_______ |
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Net current liabilities |
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(
279,823) |
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(
403,969) |
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_______ |
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_______ |
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Total assets less current liabilities |
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1,235,476 |
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1,155,718 |
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_______ |
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_______ |
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Net assets |
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1,235,476 |
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1,155,718 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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100 |
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Profit and loss account |
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1,235,376 |
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1,155,618 |
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_______ |
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_______ |
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Shareholders funds |
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1,235,476 |
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1,155,718 |
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_______ |
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_______ |
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These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
26 March 2025
, and are signed on behalf of the board by:
GWL Brewis
Director
Company registration number:
06572491
DLS Investments Limited
Notes to the financial statements
Year ended 30 September 2024
1.
General information
The company is a private company limited by shares, registered in England. The Company's registered number is
06572491
and the address of the registered office is Occupation Lane, Gonerby Moor, Grantham, Lincolnshire, NG32 2BP.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (March 2018), which the company has early adopted, and the Companies Act 2006. .
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future due to the fact that the company has the continued support of the group which has adequate resources. The director has been given assurance that this support will continue for the foreseeable future.
Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover represents total rental income receivable during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Freehold property
2.50
%
Freehold land is not depreciated
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
4.
Number of employees
The director is the only employee of the company for either year.
5.
Tangible assets
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Freehold property |
Total |
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£ |
£ |
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Cost |
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At 1 October 2023 and 30 September 2024 |
2,332,011 |
2,332,011 |
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_______ |
_______ |
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Depreciation |
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At 1 October 2023 |
772,324 |
772,324 |
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Charge for the year |
44,388 |
44,388 |
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_______ |
_______ |
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At 30 September 2024 |
816,712 |
816,712 |
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_______ |
_______ |
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Carrying amount |
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At 30 September 2024 |
1,515,299 |
1,515,299 |
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_______ |
_______ |
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At 30 September 2023 |
1,559,687 |
1,559,687 |
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_______ |
_______ |
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The freehold property is an investment property rented to a group company but is carried at cost, net of depreciation, in these financial statements as allowed by FRS102 (March 2018).
Included in cost of freehold property is freehold land with an estimated cost of £450,000 (2023: £450, 000) which is not depreciated
6.
Debtors
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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14,500 |
14,500 |
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_______ |
_______ |
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7.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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254,919 |
424,919 |
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Corporation tax |
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41,400 |
36,650 |
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Other creditors |
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4,260 |
4,140 |
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_______ |
_______ |
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300,579 |
465,709 |
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_______ |
_______ |
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8.
Summary audit opinion
The auditor's report dated
26 March 2025
was unqualified.
The senior statutory auditor was
David Fletcher BA BFP FCA
for and on behalf of
Just Audit Limited
9.
Ultimate parent undertaking
The parent company of the smallest group which includes
DLS Investments Limited
is DLS Holdings (Grantham) Limited.