DSSW Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Thomas House
Meadowcroft Business Park
Pope Lane
Whitestake
Lancashire
PR4 4AZ

The principal place of business is:
487 Marine Road East
Morecambe
Lancashire
LA4 6AF

These financial statements were authorised for issue by the Board on 23 October 2025.

2	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.

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

Going concern

The financial statements have been prepared on a going concern basis, despite the fact that distributable reserves are negative. The directors have given an undertaking to support the company. For this reason, it is considered appropriate to prepare the accounts on the going concern basis.

DSSW Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

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:

Asset class	Depreciation method and rate
Fixtures and fittings	15% Reducing balance
Office equipment	33% Straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate reviewed annually. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

DSSW Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

2	Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

DSSW Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

2	Accounting policies (continued)

Financial instruments

Classification
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 statement of financial position 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 liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4	Loss before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	325	1,013

DSSW Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

5	Tangible assets

	Fixtures and fittings  £	Office equipment  £	Total £
Cost or valuation
At 1 March 2024	3,840	3,398	7,238
At 28 February 2025	3,840	3,398	7,238
Depreciation
At 1 March 2024	3,476	3,126	6,602
Charge for the year	54	271	325
At 28 February 2025	3,530	3,397	6,927
Carrying amount
At 28 February 2025	310	1	311
At 29 February 2024	364	272	636

6	Investment properties

	2025 £
At 1 March	900,000
At 28 February	900,000

The directors have reviewed local property values available on the market, they deem this value to be a fair valuation and appropriate for this year.

There has been no valuation of investment property by an independent valuer.

7

Debtors

Current	2025 £	2024 £
Prepayments	102	795
Other debtors	4,025	3,363
	4,127	4,158

DSSW Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Accruals and deferred income	2,018	2,061
Other creditors	4,025	3,363
	6,043	5,424

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Loans and borrowings	480,987	466,054

9 Company reserves

Within profit and loss reserve account totalling £384,506 there are amounts that are distributable and non-distributable to shareholders.

Amounts totalling £(95,109) (2024: £(93,491)) are distributable and amounts totalling £479,615 (2024: £479,615) are non-distributable.