Company Registration No. 14373309 (England and Wales)
Delex Property Services Ltd
Unaudited accounts
for the year ended 30 September 2024
Delex Property Services Ltd
Unaudited accounts
Contents
Delex Property Services Ltd
Company Information
for the year ended 30 September 2024
Secretary
ADEOYE, Lawrence
Company Number
14373309 (England and Wales)
Registered Office
5 Eynswood Drive
Sidcup
DA14 6JQ
United Kingdom
Accountants
Ease Accounting Associates UK Limited
Chartered Accountants
Base Point Dartford Business Park
54 Victoria Road
DARTFORD
Kent
DA1 5FS
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Delex Property Services Ltd for the year ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Delex Property Services Ltd for the year ended
30 September 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Delex Property Services Ltd, as a body, in accordance with the terms of our engagement letter dated 21 January 2023. Our work has been undertaken solely to prepare for your approval the accounts of Delex Property Services Ltd and state those matters that we have agreed to state to the Board of Directors of Delex Property Services Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Delex Property Services Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Delex Property Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Delex Property Services Ltd. You consider that Delex Property Services Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Delex Property Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Ease Accounting Associates UK Limited
Chartered Accountants
Chartered Accountants
Base Point Dartford Business Park
54 Victoria Road
DARTFORD
Kent
DA1 5FS
9 June 2025
Delex Property Services Ltd
Statement of financial position
as at 30 September 2024
Investment property
277,399
277,399
Cash at bank and in hand
3,124
1,510
Creditors: amounts falling due within one year
(21,623)
(19,032)
Net current liabilities
(18,499)
(17,522)
Total assets less current liabilities
258,900
259,877
Creditors: amounts falling due after more than one year
(261,788)
(263,019)
Net liabilities
(2,888)
(3,142)
Called up share capital
1
1
Profit and loss account
(2,889)
(3,143)
Shareholders' funds
(2,888)
(3,142)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 June 2025 and were signed on its behalf by
Lawrence Adeoye
Director
Company Registration No. 14373309
Delex Property Services Ltd
Notes to the Accounts
for the year ended 30 September 2024
Delex Property Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 14373309. The registered office is 5 Eynswood Drive, Sidcup, DA14 6JQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Delex Property Services Ltd
Notes to the Accounts
for the year ended 30 September 2024
The financial statements have been prepared on a going concern basis which contemplates the realization of assets and the
satisfaction of liabilities in the normal course of business.
As at 30 September 2024, the company had net liabilities of £2,888. This condition does not indicates the existence of a
material uncertainty that may cast significant doubt about the company's ability to continue as a going concern and, therefore,
that it may be unable to realize its assets and discharge its liabilities in the normal course of business.
However, the directors have obtained assurance from the company's creditors that they will not demand payment of their debts
for at least twelve months from the 30 September 2023. The directors believe that this support provides a reasonable
expectation that the company will be able to continue in operational existence for the foreseeable future, thus justifying the use
of the going concern basis in the preparation of the financial statements.
The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset
amounts or to the amounts and classification of liabilities that might be necessary should the company be unable to continue as
a going concern.
The directors continue to adopt the going concern basis of accounting in preparing the annual financial statements in
accordance with Section 1A of Financial Reporting Standard 102 – 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland' (FRS 102).
Fair value at 1 October 2023
277,399
At 30 September 2024
277,399
The company holds an investment property which value is stated at market value at date of purchase.
The property is held for the purpose of earning rentals or for capital appreciation or both.
In accordance with FRS 102, the investment property will be measured at fair value at each reporting date. Fair value gains and losses on investment property under FRS 102 are taken to the profit and loss account.
The methods and significant assumptions applied in determining the fair value of investment properties will be disclosed once the property has been valued. Any restrictions on the reliability of investment property or the remittance of income and proceeds of disposal will also be disclosed.
The company will continue to monitor the value of the investment property and will obtain a fair value assessment when appropriate.
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
12,214
12,233
Loans from directors
9,409
6,799
Delex Property Services Ltd
Notes to the Accounts
for the year ended 30 September 2024
6
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
165,121
162,544
Loans from directors
96,192
100,000
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).