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Registration number: 03436716

D S E Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 September 2025

D S E Limited

Contents

Statement of Financial Position | 1
Notes to the Unaudited Financial Statements | 2 to 5

D S E Limited

(Registration number: 03436716)
Statement of Financial Position as at 30 September 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 929,565 | 720,474
Current assets |  |  |
Debtors |  | 4,871 | 122
Creditors: Amounts falling due within one year | 5 | (106,903) | (42,351)
Net current liabilities |  | (102,032) | (42,229)
Total assets less current liabilities |  | 827,533 | 678,245
Provisions for liabilities |  | (27,095) | -
Net assets |  | 800,438 | 678,245
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Profit and loss account |  | 800,338 | 678,145
Shareholders' funds |  | 800,438 | 678,245

For the financial year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 2 April 2026

Mr Darren Edward Cleverdon Director

D S E Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 September 2025

1 | General information

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

The address of its registered office is:
21-22 Southernhay East
Exeter
Devon
EX1 1QQ

Principal activity
The principal activity of the company is that of property letting.

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 entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

D S E Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 September 2025 (continued)

2 | Accounting policies (continued)

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Land and buildings | No depreciation - revaluation basis
Fittings, fixtures and equipment | 15% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

D S E Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 September 2025 (continued)

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4 | Tangible assets

| Land and buildings £ | Fixtures and fittings £ | Total £
Cost or valuation
At 1 October 2024 | 720,000 | 6,349 | 726,349
Revaluations | 164,000 | - | 164,000
Additions | 45,162 | - | 45,162
At 30 September 2025 | 929,162 | 6,349 | 935,511
Depreciation
At 1 October 2024 | - | 5,875 | 5,875
Charge for the year | - | 71 | 71
At 30 September 2025 | - | 5,946 | 5,946
Carrying amount
At 30 September 2025 | 929,162 | 403 | 929,565
At 30 September 2024 | 720,000 | 474 | 720,474

Included within the net book value of land and buildings above is £929,162 (2024 - £720,000) in respect of freehold land and buildings.

D S E Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 September 2025 (continued)

5 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Taxation and social security | 39 | 130
Accruals and deferred income | 3,968 | 1,500
Other creditors | 102,896 | 40,721
| 106,903 | 42,351

6 | Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses.
Included within the profit and loss reserve is £211,593 worth of undistributable reserves in relation to the revaluation of investment properties.

7 | Related party transactions

Transactions with the director

2025 | At 1 October 2024 £ | Repayments by director £ | At 30 September 2025 £
| (40,721) | (62,175) | (102,896)

2024 | At 1 October 2023 £ | Repayments by director £ | At 30 September 2024 £
| (40,263) | (458) | (40,721)