DRK Sussex Limited
Unaudited financial statements
For the year ended 30 November 2025
11702957 (England and Wales)
Pages for filing with registrar
DRK Sussex Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 6
DRK Sussex Limited
Balance sheet
As at 30 November 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment properties
3
635,000
707,325
Current assets
Debtors
4
6,260
714
Cash at bank and in hand
1,669
5,395
7,929
6,109
Creditors: amounts falling due within one year
5
(253,193)
(251,498)
Net current liabilities
(245,264)
(245,389)
Total assets less current liabilities
389,736
461,936
Creditors: amounts falling due after more than one year
6
(446,285)
(446,285)
Provisions for liabilities
(2,306)
(10,140)
Net (liabilities)/assets
(58,855)
5,511
Capital and reserves
Called up share capital
7
100
100
Non-distributable fair value reserve
8
-
0
43,228
Profit and loss reserves
9
(58,955)
(37,817)
Total equity
(58,855)
5,511

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

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has 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.

The financial statements were approved and signed by the director and authorised for issue on 7 July 2026
Mr D R Kelsey
Director
Company Registration No. 11702957
DRK Sussex Limited
Notes to the financial statements
For the year ended 30 November 2025
- 2 -
1
Accounting policies
Company information

DRK Sussex Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bishopstone, 36 Crescent Road, Worthing, West Sussex, BN11 1RL.

1.1
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.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Rental income is recognised in the period to which the rent receivable relates and is due on all occupied properties.

Interest income is recognised when it is probable that the economic benefits will flow to the company.

1.4
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.

1.5
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.

DRK Sussex Limited
Notes to the financial statements (continued)
For the year ended 30 November 2025
1
Accounting policies
(continued)
- 3 -
1.6
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.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

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

1.8
Taxation

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

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.

DRK Sussex Limited
Notes to the financial statements (continued)
For the year ended 30 November 2025
1
Accounting policies
(continued)
- 4 -
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
Employees

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

2025
2024
1
1
3
Investment property
2025
£
Fair value
At 1 December 2024
707,325
Revaluations
(72,325)
At 30 November 2025
635,000

Investment property comprises of two residential properties, one in Henfield and the second in Steyning, West Sussex. The fair value of the investment properties was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

DRK Sussex Limited
Notes to the financial statements (continued)
For the year ended 30 November 2025
- 5 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
400
Other debtors
353
314
353
714
Amounts falling due after more than one year:
Deferred tax asset
5,907
-
0
Total debtors
6,260
714
5
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
253,193
251,498
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
446,285
446,285
7
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
8
Non-distributable fair value reserve
2025
2024
£
£
At beginning of year
43,228
43,228
Adjustment to deferred tax on fair value of investment properties
7,834
-
Fair value adjustments to investment properties
(51,062)
-
At end of year
-
0
43,228
DRK Sussex Limited
Notes to the financial statements (continued)
For the year ended 30 November 2025
- 6 -
9
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
(37,817)
(31,251)
Loss for the year
(64,366)
(6,566)
Transfer from reserves
43,228
-
0
At the end of the year
(58,955)
(37,817)
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