Company registration number 02805254 (England and Wales)
DEANSGATE PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
DEANSGATE PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
DEANSGATE PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,940
2,170
Investment property
5
300,000
300,000
302,940
302,170
Current assets
Debtors
6
-
0
270
Cash at bank and in hand
12,825
11,643
12,825
11,913
Creditors: amounts falling due within one year
7
(13,137)
(10,664)
Net current (liabilities)/assets
(312)
1,249
Total assets less current liabilities
302,628
303,419
Provisions for liabilities
(43,767)
(33,117)
Net assets
258,861
270,302
Capital and reserves
Called up share capital
30
30
Revaluation reserve
8
227,888
227,888
Profit and loss reserves
30,943
42,384
Total equity
258,861
270,302

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

DEANSGATE PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 September 2025 and are signed on its behalf by:
Mr M T Smith
Director
Company Registration No. 02805254
DEANSGATE PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 3 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Deansgate Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Paddocks, Old Quarrington, County Durham, United Kingdom, DH6 5NW.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

2.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
10% reducing balance
Computer equipment

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

DEANSGATE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2
Accounting policies
(Continued)
- 4 -
2.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

2.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

DEANSGATE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
2
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
4
2
DEANSGATE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
4
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
Cost
At 1 April 2024
14,361
569
14,930
Additions
730
394
1,124
At 31 March 2025
15,091
963
16,054
Depreciation and impairment
At 1 April 2024
12,462
298
12,760
Depreciation charged in the year
263
91
354
At 31 March 2025
12,725
389
13,114
Carrying amount
At 31 March 2025
2,366
574
2,940
At 31 March 2024
1,899
271
2,170
5
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
300,000

The fair value of the investment property is based on a directors' estimate. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
-
0
270
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
504
556
Corporation tax
5,233
5,682
Other creditors
7,400
4,426
13,137
10,664
DEANSGATE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
8
Revaluation reserve
2025
2024
£
£
At the beginning and end of the year
227,888
227,888
9
Directors' transactions

Dividends totalling £24,000 (2024 - £26,000) were paid in the year in respect of shares held by the company's directors.

2025-03-31 2024-04-01 false false false CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr M T Smith Mr D O'Kell Ms A O'Kell Mrs L Smith Mr M T Smith 2025-09-30 02805254 2024-04-01 2025-03-31 02805254 2025-03-31 02805254 2024-03-31 02805254 core:FurnitureFittings 2025-03-31 02805254 core:ComputerEquipment 2025-03-31 02805254 core:FurnitureFittings 2024-03-31 02805254 core:ComputerEquipment 2024-03-31 02805254 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 02805254 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 02805254 core:CurrentFinancialInstruments 2025-03-31 02805254 core:CurrentFinancialInstruments 2024-03-31 02805254 core:ShareCapital 2025-03-31 02805254 core:ShareCapital 2024-03-31 02805254 core:RevaluationReserve 2025-03-31 02805254 core:RevaluationReserve 2024-03-31 02805254 core:RetainedEarningsAccumulatedLosses 2025-03-31 02805254 core:RetainedEarningsAccumulatedLosses 2024-03-31 02805254 bus:Director1 2024-04-01 2025-03-31 02805254 core:FurnitureFittings 2024-04-01 2025-03-31 02805254 2023-04-01 2024-03-31 02805254 core:FurnitureFittings 2024-03-31 02805254 core:ComputerEquipment 2024-03-31 02805254 2024-03-31 02805254 core:ComputerEquipment 2024-04-01 2025-03-31 02805254 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 02805254 bus:FRS102 2024-04-01 2025-03-31 02805254 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 02805254 bus:Director2 2024-04-01 2025-03-31 02805254 bus:Director3 2024-04-01 2025-03-31 02805254 bus:Director4 2024-04-01 2025-03-31 02805254 bus:CompanySecretary1 2024-04-01 2025-03-31 02805254 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 02805254 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP