DECEMBER PROPERTIES LIMITED - Filleted accounts

Registered number

03128919

DECEMBER PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

PAGES FOR FILING WITH REGISTRAR

DECEMBER PROPERTIES LIMITED

CONTENTS



Page

Balance sheet	1

Notes to the financial statements	2 - 6

DECEMBER PROPERTIES LIMITED

Balance Sheet

as at 30 April 2025
Company Registration No.	03128919


						Restated
Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		796			-
Investments	4		2,500,000			2,500,000
			2,500,796			2,500,000

Current assets
Debtors	5	37,954			11,678
Cash at bank and in hand		446,997			442,796
		484,951			454,474

Creditors: amounts falling due within one year	6	(114,754)			(185,164)

Net current assets			370,197			269,310

Net assets			2,870,993			2,769,310

Capital and reserves
Called up share capital			100			100
Profit and loss account			2,870,893			2,769,210

Shareholders' funds			2,870,993			2,769,310


The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies' regime. The profit and loss account has not been delivered to the Registrar of Companies.



…………………………………..
Renata Samuels
Director

Approved by the board on 3 November 2025

DECEMBER PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025



1	Accounting policies

	Basis of preparation
	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 the small companies regime. The disclosure requirements of section 1A 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 amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

	Going concern
	The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Investment property	Not depreciated
	Fixtures, fittings and equipment	20% straight line

	Financial instruments
	The company only enters into basic financial statements transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial instruments are recognised in the company's balance sheet date when the company becomes party to the contractual provisions of the instruments. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairments found, an impairment loss is recognised in profit and loss accounts. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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 transactions costs, 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. Such assets are subsequently carried amortised cost using effective interest method, less any impairment.

	Derecognition of financial assets
	Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

	Basic financial liabilities
	Basic financial liabilities, including creditors, bank loans, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using effective interest method. Financial liabilities classified as payable within one year are not amortised.

	Derecognition of financial liabilities
	Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

	Cash and cash equivalents
	Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with financial institutions, and 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.

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

	Current tax
	The current tax payable is based on taxable profit for the year. Taxable profit differs from net profit 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 profits. Such assets and liabilities are not recognised if the timing differences arises from goodwill or from the initial recognition of the 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the assets 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 relate to taxes levied by the same tax authority.


2	Employees		2025		2024
Number				Number

	Average number of persons employed by the company		3		3


3	Tangible fixed assets
					Fixtures, fittings and equipment
£
	Cost
	Additions				995
	At 30 April 2025				995

	Depreciation
	Charge for the year				199
	At 30 April 2025				199

	Net book value
	At 30 April 2025				796


4	Investment Property

Other
investments
£
	Cost
	At 1 May 2024				2,500,000

	At 30 April 2025				2,500,000

	Investment property comprises of two properties at Oakleigh Road and 190 Finchley Road. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
	During the current financial year, the company reviewed the classification of its property assets. Properties previously classified as land and buildings under tangible assets have been reclassified as investment property, as they are held to earn rentals and/or for capital appreciation. In prior periods, no depreciation was charged on these assets. This was based on the assumption that the land element was significant and not subject to depreciation. Following the reclassification, the company has adopted the fair value model in accordance with FRS 102 Section 16, and the properties are now measured at fair value at each reporting date, with changes recognised in profit or loss. The reclassification has been applied retrospectively, where practicable, and comparative figures have been restated accordingly. The impact of this change on the financial statements is disclosed below: Increase in investment property value: £2,500,000 Decrease in tangible assets value: £2,500,000 The company has also reviewed its depreciation policy and confirms that no depreciation is charged on investment property measured at fair value, in line with FRS 102.


5	Debtors		2025		2024
£				£

	Trade debtors		-		8,724
	Amounts owed by group undertakings and undertakings in which the company has a participating interest		2,954		2,954
	Accrued income		35,000		-
			37,954		11,678


6	Creditors: amounts falling due within one year		2025		2024
£				£

	Corporation tax		33,629		67,637
	Other creditors		69,461		22,697
	Directors' current account		683		46,973
	Other taxes and social security costs		10,981		47,857
			114,754		185,164


7	Other information

	December Properties Limited is a private company limited by shares and incorporated in England and Wales. The registered office is: Level 5A, Maple House, 149 Tottenham Court Road, London, W1T 7NF.