Company No: 10225711 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Investment property	3	1,463,000		1,463,000
		1,463,000		1,463,000
Current assets
Debtors	4	238		1
Cash at bank and in hand		37,653		42,722
		37,891		42,723
Creditors: amounts falling due within one year	5	( 906,519)		( 969,551)
Net current liabilities		(868,628)		(926,828)
Total assets less current liabilities		594,372		536,172
Net assets		594,372		536,172
Capital and reserves
Called-up share capital	6	100		100
Revaluation reserve		303,169		303,169
Profit and loss account		291,103		232,903
Total shareholders' funds		594,372		536,172

For the financial year ending 31 March 2026 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 Statement of Comprehensive Income has not been delivered.

The financial statements of DFSM Limited (registered number: 10225711) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D Freeney Director

21 August 2026

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

DFSM 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 35 Ballards Lane, London, N3 1XW, 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 Statement of Financial Position 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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 Statement of Financial Position date.

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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

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 creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	2		2

3. Investment property

	Investment property
	£
Valuation
As at 01 April 2025	1,463,000
As at 31 March 2026	1,463,000

Valuation

The 2026 valuations were made by the directors, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2026		2025
	£		£
Historic cost	1,058,775		1,058,775

4. Debtors

	2026		2025
	£		£
Other debtors	238		1

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Taxation and social security	21,766		21,722
Other creditors	884,753		947,829
	906,519		969,551

6. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
90 Ordinary shares of £ 1.00 each	90		90
5 Ordinary A shares of £ 1.00 each	5		5
5 Ordinary B shares of £ 1.00 each	5		5
	100		100

7. Related party transactions

Other related party transactions

	2026		2025
	£		£
Rent received from companies under common control	85,000		85,000

Included within creditors is £751,158 (2025: £815,534) due from a company under common control. There is no interest charged on this loan and the loan is repayable on demand.

8. Ultimate controlling party

The company is controlled by D and S Freeney