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COMPANY REGISTRATION NUMBER: 11206660
DELORS PROPERTIES LIMITED
Filleted Unaudited Financial Statements
29 February 2024
DELORS PROPERTIES LIMITED
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Investments
6
640,401
640,401
Current assets
Cash at bank and in hand
2
1,168
Creditors: amounts falling due within one year
7
7,279
3,729
-------
-------
Net current liabilities
7,277
2,561
---------
---------
Total assets less current liabilities
633,124
637,840
Creditors: amounts falling due after more than one year
8
631,636
631,636
---------
---------
Net assets
1,488
6,204
---------
---------
Capital and reserves
Called up share capital
9
50
50
Profit and loss account
10
1,438
6,154
-------
-------
Shareholders funds
1,488
6,204
-------
-------
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 income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 May 2025 , and are signed on behalf of the board by:
Felicity A D Smith
Director
Company registration number: 11206660
DELORS PROPERTIES LIMITED
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 74 Weydown Close, London, SW19 6JQ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of investment properties, and in compliance with the provisions of the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008 and Financial Reporting Standard 102 Section 1A.
(b) Turnover
Turnover represents rental income receivable in the year.
(c) Deferred taxation
Deferred tax is recognised by making provision, at current rates, for all timing differences that have originated but not reversed by the balance sheet date. Timing differences arise where income or expenditure is recognised in the profit and loss account in a different period to that in which it is recognised for tax purposes.
(d) Investments
Investment properties are included in the balance sheet at their open market value at the balance sheet date. Changes in market value are taken through the profit and loss account to the fair value reserve.
Depreciation is not provided on investment properties. This treatment is a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, the properties are held for investment purposes and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts to give a true and fair view.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tax on (loss)/profit
2024
2023
£
£
Corporation tax charge @ 19% (2023 - 19%) on the profit for the year
312
6. Investments
Freehold investment property
£
Cost
At 1 March 2023 and 29 February 2024
640,401
---------
Impairment
At 1 March 2023 and 29 February 2024
---------
Carrying amount
At 29 February 2024
640,401
---------
At 28 February 2023
640,401
---------
In the opinion of the director, the value of the company’s freehold investment property at the balance sheet date is not significantly different from its cost. The book value of the property stated on the historical cost basis amounted to £640,401 (2023 - £640,401) at the balance sheet date.
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
790
Director’s current account (F A D Smith)
5,089
1,499
Other creditors
2,190
1,440
-------
-------
7,279
3,729
-------
-------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Mortgage loan (secured, wholly repayable after more than five years)
336,636
336,636
Director’s loan (F A D Smith)
295,000
295,000
---------
---------
631,636
631,636
---------
---------
9. Called up share capital
2024
2023
£
£
Allotted, called up and fully paid: 50 ordinary shares of £1 each
50
50
10. Reserves
2024 2023
£ £
Accumulated profits brought forward 6,154 4,823
(Loss)/profit for the financial year (4,716) 1,331
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Accumulated profits carried forward 1,438 6,154
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