D & W Property Investment Limited 07400512 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is the letting of residential and commercial properties Digita Accounts Production Advanced 6.30.9574.0 true 07400512 2023-10-01 2024-09-30 07400512 2024-09-30 07400512 bus:OrdinaryShareClass2 2024-09-30 07400512 bus:OrdinaryShareClass3 2024-09-30 07400512 bus:OrdinaryShareClass4 2024-09-30 07400512 bus:OrdinaryShareClass5 2024-09-30 07400512 core:OtherReservesSubtotal 2024-09-30 07400512 core:RetainedEarningsAccumulatedLosses 2024-09-30 07400512 core:ShareCapital 2024-09-30 07400512 core:CurrentFinancialInstruments 2024-09-30 07400512 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 07400512 core:Non-currentFinancialInstruments 2024-09-30 07400512 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 07400512 core:MoreThanFiveYears 2 2024-09-30 07400512 core:FurnitureFittingsToolsEquipment 2024-09-30 07400512 core:OtherRelatedParties 2024-09-30 07400512 bus:SmallEntities 2023-10-01 2024-09-30 07400512 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 07400512 bus:FilletedAccounts 2023-10-01 2024-09-30 07400512 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07400512 bus:RegisteredOffice 2023-10-01 2024-09-30 07400512 bus:Director4 2023-10-01 2024-09-30 07400512 bus:OrdinaryShareClass2 2023-10-01 2024-09-30 07400512 bus:OrdinaryShareClass3 2023-10-01 2024-09-30 07400512 bus:OrdinaryShareClass4 2023-10-01 2024-09-30 07400512 bus:OrdinaryShareClass5 2023-10-01 2024-09-30 07400512 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07400512 core:FurnitureFittings 2023-10-01 2024-09-30 07400512 core:OtherRelatedParties 2023-10-01 2024-09-30 07400512 core:ParentEntities 2023-10-01 2024-09-30 07400512 countries:UnitedKingdom 2023-10-01 2024-09-30 07400512 2023-09-30 07400512 core:FurnitureFittingsToolsEquipment 2023-09-30 07400512 core:OtherRelatedParties 2023-09-30 07400512 2022-10-01 2023-09-30 07400512 2023-09-30 07400512 bus:OrdinaryShareClass2 2023-09-30 07400512 bus:OrdinaryShareClass3 2023-09-30 07400512 bus:OrdinaryShareClass4 2023-09-30 07400512 bus:OrdinaryShareClass5 2023-09-30 07400512 core:OtherReservesSubtotal 2023-09-30 07400512 core:RetainedEarningsAccumulatedLosses 2023-09-30 07400512 core:ShareCapital 2023-09-30 07400512 core:CurrentFinancialInstruments 2023-09-30 07400512 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 07400512 core:Non-currentFinancialInstruments 2023-09-30 07400512 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 07400512 core:MoreThanFiveYears 2 2023-09-30 07400512 core:OtherRelatedParties 2023-09-30 07400512 core:OtherReservesSubtotal 2022-10-01 2023-09-30 07400512 core:OtherReservesSubtotal core:LandBuildings 2022-10-01 2023-09-30 07400512 core:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 07400512 core:RetainedEarningsAccumulatedLosses core:LandBuildings 2022-10-01 2023-09-30 07400512 core:LandBuildings 2022-10-01 2023-09-30 07400512 core:OtherRelatedParties 2022-10-01 2023-09-30 07400512 2022-09-30 07400512 core:OtherRelatedParties 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07400512

D & W Property Investment Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

D & W Property Investment Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

D & W Property Investment Limited

(Registration number: 07400512)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

4,405,664

4,610,664

Current assets

 

Debtors

6

87,838

51,177

Cash at bank and in hand

 

16,682

-

 

104,520

51,177

Creditors: Amounts falling due within one year

7

(543,196)

(1,303,048)

Net current liabilities

 

(438,676)

(1,251,871)

Total assets less current liabilities

 

3,966,988

3,358,793

Creditors: Amounts falling due after more than one year

7

(1,781,260)

(1,102,433)

Provisions for liabilities

(339,377)

(339,377)

Net assets

 

1,846,351

1,916,983

Capital and reserves

 

Called up share capital

8

100

100

Fair value reserve

1,159,195

1,159,195

Retained earnings

687,056

757,688

Shareholders' funds

 

1,846,351

1,916,983

For the financial 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.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 June 2025 and signed on its behalf by:
 

.........................................
S Lawson
Director

 

D & W Property Investment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
26 South St. Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW

The principal place of business is:
Springview
Watery Lane
Little Cawthorpe
Louth
LN11 8LZ

These financial statements were authorised for issue by the Board on 16 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

D & W Property Investment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

20% straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 3 (2023 - 3).

 

D & W Property Investment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

5,000

5,000

At 30 September 2024

5,000

5,000

Depreciation

At 1 October 2023

5,000

5,000

At 30 September 2024

5,000

5,000

Carrying amount

At 30 September 2024

-

-

5

Investment properties

2024
£

At 1 October

4,610,664

Disposals

(205,000)

At 30 September

4,405,664

The fair value has been determined by the directors by reference to recent market prices of similar properties in the area.

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

2023
£

Trade debtors

13,912

16,130

Prepayments

1,145

1,042

Other debtors

72,781

34,005

 

87,838

51,177

 

D & W Property Investment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

-

548,231

Trade creditors

 

266

20

Taxation and social security

 

20,523

59,429

Accruals and deferred income

 

38,096

57,094

Other creditors

 

484,311

638,274

 

543,196

1,303,048

Creditors due within one year include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £nil (2023 - £537,803). The loans are secured against the investment property.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

1,781,260

1,102,433

2024
£

2023
£

Due after more than five years

After more than five years not by instalments

1,365,560

-

Creditors due after one year include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £1,781,260 (2023 - £1,081,194). The loans are secured against the investment property.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary shares of £1 each

50

50

50

50

B Ordinary shares of £1 each

20

20

20

20

D Ordinary shares of £1 each

10

10

10

10

C Ordinary shares of £1 each

20

20

20

20

100

100

100

100

 

D & W Property Investment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Other reserves
£

Retained earnings
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(81,536)

-

(81,536)

Other comprehensive income

-

81,536

81,536

(81,536)

81,536

-

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,781,260

1,102,433

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

541,378

Bank overdrafts

-

6,853

-

548,231

11

Related party transactions

Summary of transactions with other related parties

Sean Lawson Land Limited. Sean Lawson was a director and controlling shareholder of Sean Lawson Land Limited throughout the year.

 

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

631,136

631,136

Advanced

232,566

232,566

Repaid

(386,528)

(386,528)

At end of period

477,174

477,174

 

D & W Property Investment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2023

Other related parties
£

Total
£

At start of period

551,125

551,125

Advanced

357,491

357,491

Repaid

(277,480)

(277,480)

At end of period

631,136

631,136

Terms of loans from related parties

The loan is interest free and repayable on demand.