Registration number:
District Capital Ltd
for the Year Ended 31 December 2024
District Capital Ltd
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
District Capital Ltd
(Registration number: 14353102)
Balance Sheet as at 31 December 2024
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2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
District Capital Ltd
(Registration number: 14353102)
Balance Sheet as at 31 December 2024
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District Capital Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
UK
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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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
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 of 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.
District Capital Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Tangible assets
Tangible assets are stated in the balance sheet 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:
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Asset class |
Depreciation method and rate |
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Furniture, fittings and equipment |
25% Reducing balance |
Investment property
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
District Capital Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Investment properties |
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2024 |
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At 1 January |
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Additions |
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At 31 December |
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There has been no valuation of investment property by an independent valuer.
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Debtors |
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Current |
2024 |
2023 |
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Trade debtors |
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Other debtors |
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District Capital Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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Other creditors |
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Current loans and borrowings
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2024 |
2023 |
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Other borrowings |
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Creditors: amounts falling due after more than one year
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Included within loans and borrowings is £180,020 (2023: £180,020) in relation to a mortgage which is secured by a fixed charge dated 12 May 2023 over the investment property Apartment 82, The Riverside, Derwent Street, Salford. Included within loans and borrowings is £126,872 (2023: £126,872) in relation to a mortgage which is secured by a fixed charge dated 10 October 2023 over the investment property Apartment 39, 62 Ellesmere Street, Manchester. Included within loans and borrowings is £123,616 (2023: £Nil) in relation to a mortgage which is secured by a fixed charge dated 01 July 2024 over the investment property Apartment 47, 62 Ellesmere Street, Manchester. Included within loans and borrowings is £108,200 (2023: £Nil) in relation to a mortgage which is secured by a fixed charge dated 02 September 2024 over the investment property Apartment 15, 66 Ellesmere Street, Manchester.
District Capital Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Other borrowings |
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Current loans and borrowings
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2024 |
2023 |
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Other borrowings |
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