Company No: 10002900 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Tangible assets	5	4,884,979		4,773,601
		4,884,979		4,773,601
Current assets
Debtors	6	17,930		12,613
Cash at bank and in hand		5,736		3,339
		23,666		15,952
Creditors: amounts falling due within one year	7	( 746,575)		( 672,925)
Net current liabilities		(722,909)		(656,973)
Total assets less current liabilities		4,162,070		4,116,628
Creditors: amounts falling due after more than one year	8	( 1,956,582)		( 1,971,863)
Provision for liabilities		( 216,860)		( 183,200)
Net assets		1,988,628		1,961,565
Capital and reserves
Called-up share capital	9	20		20
Share premium account		1,234,992		1,234,992
Profit and loss account		753,616		726,553
Total shareholders' funds		1,988,628		1,961,565

For the financial year ending 31 January 2025 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 financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Diligent Property Services Limited (registered number: 10002900) were approved and authorised for issue by the Board of Directors on 24 October 2025. They were signed on its behalf by:

Mr K Balasubramaniam Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Diligent Property Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Quoits Field, Duddlestone, Taunton, TA3 7BD, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year adjustment

The prior year adjustment is shown in note 3.

Turnover

Turnover represents rental income receivable which is recognised in the rental period.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Investment property	not depreciated
Fixtures and fittings	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Prior year adjustment

		As previously reported		Adjustment		As restated
Year ended 31 January 2024		£		£		£
Balance Sheet - Bank loans		(1,934,670)		(50,190)		(1,984,860)
Balance Sheet - Deferred tax		(188,000)		4,800		(183,200)
Balance Sheet - Corporation tax		(6,000)		6,000		0
P&L - Other interest payable		40,054		33,688		73,742
P&L - Deferred tax		7,100		(600)		6,500
P&L - Corporation tax		6,000		(6,000)		0

The prior year has been re-stated due to loan payments being treated as capital repayments rather than representing the loan as interest only.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		1

4. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 February 2024	5		5
At 31 January 2025	5		5
Accumulated amortisation
At 01 February 2024	5		5
At 31 January 2025	5		5
Net book value
At 31 January 2025	0		0
At 31 January 2024	0		0

5. Tangible assets

	Investment property		Fixtures and fittings		Total
	£		£		£
Cost
At 01 February 2024	4,747,406		29,081		4,776,487
Additions	59,488		6,481		65,969
Revaluations	47,054		0		47,054
At 31 January 2025	4,853,948		35,562		4,889,510
Accumulated depreciation
At 01 February 2024	0		2,886		2,886
Charge for the financial year	0		1,645		1,645
At 31 January 2025	0		4,531		4,531
Net book value
At 31 January 2025	4,853,948		31,031		4,884,979
At 31 January 2024	4,747,406		26,195		4,773,601

During the year, the director has revalued the properties to: £4,743,625 (2024: £4,696,571).
The original cost of the investment properties was: £3,780,586.

6. Debtors

	2025		2024
	£		£
Prepayments	2,298		2,010
Corporation tax	5,929		0
Other debtors	9,703		10,603
	17,930		12,613

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	13,711		12,997
Taxation and social security	6,364		0
Other creditors	726,500		659,928
	746,575		672,925

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	1,956,582		1,971,863

Included within bank loans at the year end is £1,970,293 (2024 Amended: 1,984,860) on which the investment properties have been pledged as security.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
200 Ordinary shares of £ 0.10 each	20		20

10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2025		2024
	£		£
Diligent Imaging & Intervention Limited	674,147		575,921
Riverside Somerset Limited	0		(900)

During the year a loan existed between Diligent Property Services Limited and Diligent Imaging & Intervention Limited, of which both Mr and Mrs Balasubramaniam are shareholders. The loan is interest free and repayable on demand. The balance due to Diligent Imaging & Intervention Limited as at 31 January 2025 is £674,147 (2024: £575,921).

During the year a loan existed between Diligent Property Services Limited and Riverside Somerset Limited, of which Mrs Balasubramaniam is a shareholder. Riverside Somerset Limited was dissolved on 30 July 2024 and so the loan has been treated as a bad debt.

11. Reserves

	2025		2024
	£		£
Unrealised gain	910,052		862,998
Less: Deferred tax gain	(216,860)		(183,200)
	693,192		679,798

Included within the company's profit and loss account are non distributable reserves which comprise of unrealised gains and losses on investments held at fair value, together with any deferred tax provided on these unrealised amounts.