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Registered number: 15338327
Detroit Investments Ltd
Unaudited Financial Statements
For the Period 9 December 2023 to 31 December 2024
Beach Accountants Limited
Chartered Certified Accountants
10 Blue Sky Way
Monkton Business Park South
Hebburn
South Tyneside
NE31 2EQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 15338327
31 December 2024
Notes £ £
FIXED ASSETS
Investments 4 205,177
205,177
CURRENT ASSETS
Debtors 5 96,699
Cash at bank and in hand 296
96,995
Creditors: Amounts Falling Due Within One Year 6 (267,859 )
NET CURRENT ASSETS (LIABILITIES) (170,864 )
TOTAL ASSETS LESS CURRENT LIABILITIES 34,313
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (6,636 )
NET ASSETS 27,677
CAPITAL AND RESERVES
Called up share capital 8 1
Profit and Loss Account 27,676
SHAREHOLDERS' FUNDS 27,677
Page 1
Page 2
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Penelope Mosgrove
Director
14/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Detroit Investments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15338327 . The registered office is 51 Kinnerton Street, Belgravia, London, SW1X 8ED.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Investments
Listed
£
Cost
As at 9 December 2023 -
Additions 170,251
Revaluations 34,926
As at 31 December 2024 205,177
Provision
As at 9 December 2023 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 205,177
As at 9 December 2023 -
All shares have been measured at fair value based on market rate.
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5. Debtors
31 December 2024
£
Due within one year
Other debtors 1
Intercompany - Logan & Warwick 15,500
Intercompany - Quintessentially Estates 81,198
96,699
6. Creditors: Amounts Falling Due Within One Year
31 December 2024
£
Intercompany - John Mosgrove Ltd 267,319
Accruals and deferred income 540
267,859
7. Deferred Taxation
The provision for deferred tax is made up as follows:
31 December 2024
£
Fair value movements on financial instruments 6,636
8. Share Capital
31 December 2024
£
Allotted, Called up and fully paid 1
Page 4