Company registration number 05951747 (England and Wales)
DELMOOR PROPERTY INVESTMENT COMPANY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
DELMOOR PROPERTY INVESTMENT COMPANY LTD
COMPANY INFORMATION
Director
Mr C R Watts
Company number
05951747
Registered office
91 Birmingham Road
West Bromwich
West Midlands
B70 6PX
Accountants
Fields Business Advisors Limited
91 Birmingham Road
West Bromwich
West Midlands
B70 6PX
DELMOOR PROPERTY INVESTMENT COMPANY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3
DELMOOR PROPERTY INVESTMENT COMPANY LTD
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
988,213
988,213
Current assets
Debtors
4
1,201,724
538,306
Cash at bank and in hand
18
6,647
1,201,742
544,953
Creditors: amounts falling due within one year
5
(141,230)
(155,957)
Net current assets
1,060,512
388,996
Total assets less current liabilities
2,048,725
1,377,209
Creditors: amounts falling due after more than one year
6
(1,300,000)
(547,087)
Net assets
748,725
830,122
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
748,625
830,022
Total equity
748,725
830,122
DELMOOR PROPERTY INVESTMENT COMPANY LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -

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

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

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 14 May 2025
Mr C R Watts
Director
Company registration number 05951747 (England and Wales)
DELMOOR PROPERTY INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Delmoor Property Investment Company Ltd is a private company limited by shares incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

1.1
Accounting convention

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. There were no material departures from that standard.

The financial statements are prepared in sterling which is the functional currency of the company and are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention.

1.2
Turnover

Turnover consists of rent receivable from the leasehold investment property excluding value added tax. Rent receivable is recognised in the profit and loss account on a straight line basis over the period of the lease.

1.3
Investment property

Investment properties are included at fair value. Gains and losses are recognised in the Income Statement and included within the fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold or at the rate applicable at the balance sheet date.

1.4
Cash and cash equivalents

Cash is represented by cash at bank and on hand, and bank overdrafts.

1.5
Financial instruments

With few exceptions, the company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as cash, trade and other accounts receivable and payable and loans from banks and other third parties, including related parties.

 

Basic financial instruments such as those above are recognised in the financial statements at amortised cost.

 

Any exception to the above are either immaterial or do not affect more than one accounting period.

1.6
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

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DELMOOR PROPERTY INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
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 substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

 

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.

1.7

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

1.8

Trade and other debtors

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment.

1.9

Trade and other creditors

Trade and other creditors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

2
Employees

The average number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
988,213

The director is of the opinion that no adjustment is required to the carrying value of the company's leasehold investment property at 31st March 2024.

 

The company's leasehold investment property is held for use under an operating lease.

DELMOOR PROPERTY INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,201,724
538,306
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
-
0
30,415
Trade creditors
4,594
2,908
Corporation tax
86,836
76,646
Other taxation and social security
48,075
42,593
Other creditors
1,725
3,395
141,230
155,957
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,300,000
547,087
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable other than by instalments
1,300,000
-
7
Secured Debts

The long-term loan is secured by fixed charges over the company's investment property. It is an interest only loan expiring in 2033.

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