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Registered Number: 08097357
England and Wales

 

 

 

DAVID CLIFF PROPERTY SERVICES LIMITED



Unaudited Abridged Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 120,076    50,356 
120,076    50,356 
Current assets      
Debtors 182,050    81,419 
Investments 538,109    473,528 
Cash at bank and in hand 1,018,931    920,895 
1,739,090    1,475,842 
Creditors: amount falling due within one year (326,186)   (225,740)
Net current assets 1,412,904    1,250,102 
 
Total assets less current liabilities 1,532,980    1,300,458 
Creditors: amount falling due after more than one year   (70,833)
Provisions for liabilities (29,983)   (9,534)
Net assets 1,502,997    1,220,091 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 1,502,897    1,219,991 
Shareholders' funds 1,502,997    1,220,091 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 19 June 2025 and were signed on its behalf by:


-------------------------------
D Cliff
Director
-------------------------------
D P Fraifeld
Director
-------------------------------
G S Muden
Director
1
General Information
David Cliff Property Services Limited is a private company, limited by shares, registered in England and Wales, registration number 08097357, registration address 43a Peach Street, Wokingham, Berkshire, RG40 1XJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised when the company obtains the right to consideration as defined in the landlord and tenants agreements.  In the case of commissions in respect of property sales, turnover is recognised on exchange of contracts.



Operating lease agreements
Rentals paid under operating leases are charged to profit or loss on a straight line casis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, 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 is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and 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.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.  Intangibles are being amortised evenly over estimated useful life of 3 years.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012 has been amortised evenly over its estimated useful life of 5 years.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Short leasehold - 5 and 7 years over the term of the lease
Fixtures and fittings     - 15% on reducing balance
Computer equipment  - 33% on reducing balance
Motor vehicle - 20% on reducing balance
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Hire purchase and leasing agreements
Assets held under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Investments
Investments are valued at fair value, with any initial transaction costs expensed through the profit and loss. No deductions have been made for transaction costs that may be incurred upon sale of investment.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 18 (2023 : 15).
3.

Intangible fixed assets

Cost Goodwill   Other   Total
  £   £   £
At 01 January 2024 375,000    65,000    440,000 
Additions    
Disposals    
At 31 December 2024 375,000    65,000    440,000 
Amortisation
At 01 January 2024 375,000    65,000    440,000 
Charge for year    
On disposals    
At 31 December 2024 375,000    65,000    440,000 
Net book values
At 31 December 2024    
At 31 December 2023    


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Land and Buildings   Total
  £   £   £   £   £
At 01 January 2024   89,170    36,211    25,970    151,351 
Additions 85,743      3,982      89,725 
Disposals        
At 31 December 2024 85,743    89,170    40,193    25,970    241,076 
Depreciation
At 01 January 2024   49,983    25,042    25,970    100,995 
Charge for year 9,541    5,878    4,586      20,005 
On disposals        
At 31 December 2024 9,541    55,861    29,628    25,970    121,000 
Net book values
Closing balance as at 31 December 2024 76,202    33,309    10,565      120,076 
Opening balance as at 01 January 2024   39,187    11,169      50,356 


5.

Advances and Credits



D Cliff
The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023. The loan has no fixed date for repayment. Interest was charged at HMRC's official rate of interest on any borrowing.

Current year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
D Cliff7,999 21,882 3,000 26,881 
799921882030000026881
Previous year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
D Cliff(1,175)10,382 1,208 7,999 
-11751038201208007999
6.

Debtors: amounts falling due within one year

.   2024
£
  2023
£
Trade Debtors 128,272  58,497 
Prepayments & Accrued Income 22,772  10,798 
Other Debtors 4,125  4,125 
Directors Current Account 26,881  7,999 
182,050  81,419 

7.

Creditors: amount falling due within one year

.   2024
£
  2023
£
Trade Creditors 71,711  23,217 
Bank Loans & Overdrafts (Secured) 50,000 
Amounts Owed to Group Undertakings 5,373  4,902 
Corporation Tax 97,477  54,775 
PAYE & Social Security 16,621  12,705 
Accrued Expenses 23,553  22,060 
Other Creditors 7,149  25,515 
VAT 104,302  32,566 
326,186  225,740 

8.

Creditors: amounts falling due after more than one year

.   2024
£
  2023
£
Bank Loans & Overdrafts (secured) 70,833 
70,833 

9.

Leasing Agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
.   2024
£
  2023
£
Within one year 55,450  55,122 
Between one and five years 51,876  78,342 
107,326  133,464 

10.

Secured Debts

There is a fixed and floating charge in favour of Lloyds Bank Plc over all the property and undertakings of the company.
2