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Diss Business Park Properties Limited
Registered Number:11607582
For the year ended 31 October 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 October 2024
Diss Business Park Properties Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
11607582
As at 31 October 2024
Diss Business Park Properties Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
2
1,670,000
457,313
Investment property
1,670,000
457,313
Current assets
Trade and other receivables
73,686
6,133
3
528
Cash and cash equivalents
38,032
44,165
74,214
Trade and other payables: amounts falling due within one
year
(547,617)
(207,969)
4
(473,403)
(163,804)
Net current liabilities
Total assets less current liabilities
1,506,196
(16,090)
Trade and other payables: amounts falling due after more
than one year
-
(644,603)
5
(216,771)
-
Provisions for liabilities
644,822
Net assets/liabilities
(16,090)
Capital and reserves
Called up share capital
1
1
Retained earnings
644,821
(16,091)
644,822
(16,090)
Shareholders' funds
For the year ended 31 October 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 of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
C Read-Musgrave Director
These financial statements were approved and authorised for issue by the Board on 23 July 2025 and were signed by:
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4
Registered Number :
11607582
For the year ended 31 October 2024
Diss Business Park Properties Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 October 2024
Diss Business Park Properties Limited
Notes to the Financial Statements
Statutory Information
Diss Business Park Properties Limited is a private limited company, limited by shares, domiciled in England and
Wales, registration number 11607582.
Registered address:
20B Upstairs Diss Business Park Hopper Way
Sandy Lane
Diss
Norfolk
IP22 4GT
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for rental of the commercial property along with recharges of associated expenses net of value added tax.
Investment property
Investment property which is held to earn rentals and/or for capital appreciation, is initially recognised at cost, whichincludes purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at thereporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Going Concern
At 31 October 2024, the company had net current liabilities of £163,804 (2023- £473,403). The directors have
considered the availability of working capital at 31 October 2024 together with the continued support from the
company's shareholders and connected businesses, and is of the opinion that this will be sufficient to enable the
company to continue operating for at least the 12 months from the date of signing these accounts, and pay its debts
as they fall due. The directors have therefore concluded that the accounts should be prepared on a going concern
basis.
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6
For the year ended 31 October 2024
Diss Business Park Properties Limited
Notes to the Financial Statements Continued
2. Investment property
Total
£
Fair value
At 01 November 2023
457,313
Additions
345,602
Fair value adjustments
867,085
At 31 October 2024
1,670,000
Net book value
At 31 October 2024
1,670,000
At 31 October 2023
457,313
Investment property comprises of one commercial property. During the year construction work was completed to refurbish the property in order that it can earn rentals. Construction costs in the year to 31 October 2024 totalled £345,602 and are included in additions. A professional valuation, carried out in December 2023, valued the property at £1,670,000. The directors are of the opinion that the fair value of the property at 31 October 2024 remained at £1,670,000.
3. Trade and other receivables
2023
2024
£
£
Trade debtors
3,528
-
Other debtors
2,605
73,686
73,686
6,133
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft (secured)
18,680
-
Trade creditors
25,947
371,352
Other creditors
163,342
176,265
207,969
547,617
5. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft (secured)
644,603
-
The bank loan is secured against the investment proeperty held by the company.
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7
For the year ended 31 October 2024
Diss Business Park Properties Limited
Notes to the Financial Statements Continued
6. Reserves
The balance in the profit and loss reserves of the company includes the sum of £650,314 representing the fair value
gain less the potential deferred tax of investment properties that would arise on the sale of the property at their book
value. Accordingly, this element of the company's reserves is not distributable.
7. Related party transactions
During the year the company received loans from a company under common control of one of the directors, totalling
£70,200. They also made repayments towards loans from companies under common control totalling £100,813. The
loans were provided interest free and are repayable on demand. The balance outstanding at the year end was
£145,200 (2023: £175,813) and is included in Other Creditors in note 5 to the accounts.
8. Average number of persons employed
During the year the average number of employees was 2 (2023 : 2)
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