DSR Portfolio Limited Company accounts

DSR PORTFOLIO LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 13246199

DSR Portfolio Limited

Unaudited Financial Statements

31 March 2022

DSR Portfolio Limited

Financial Statements

Period ended 31 March 2022

Contents	Page

Directors' report	1

Statement of income and retained earnings	2

Statement of financial position	3

Accounting policies	4

Notes to the financial statements	5

The following pages do not form part of the financial statements

Accountants report to the board of directors on the preparation of the unaudited statutory financial statements	8

DSR Portfolio Limited

Directors' Report

Period ended 31 March 2022

The directors present their report and the unaudited financial statements of the company for the period ended 31 March 2022 .

Incorporation

The company, DSR Portfolio Limited , was incorporated in the England and Wales on the 5th March 2021 under company registration number 13246199 .The company started its business as from 1st October 2021. The attached financial statement therefore, relates to the period covering from 1st October 2021 to 31st March 2022.

Directors

The directors who served the company during the period were as follows:

Dr Shefali Rajpopat
Dr Nishal Amin	(Appointed 10 February 2022)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 7 September 2022 and signed on behalf of the board by:

Dr Shefali Rajpopat	Dr Nishal Amin
Director	Director

Registered office:

9 Dukes Avenue

Harrow & Wealdstone

United Kingdom

HA1 1XP

DSR Portfolio Limited

Statement of Income and Retained Earnings

Period ended 31 March 2022

	2022
Note	£
Turnover	9,600

	-------
Gross profit	9,600

Administrative expenses	6,934
	-------
Operating profit	2,666

	-------
Profit before taxation	2,666

Tax on profit	4	533
		-------
Profit for the financial period and total comprehensive income		2,133
		-------

Retained earnings at the start of the period	–
	-------
Retained earnings at the end of the period	2,133
	-------

All the activities of the company are from continuing operations.

DSR Portfolio Limited

Statement of Financial Position

31 March 2022

	2022
Note	£

Fixed assets

Tangible assets	5	516,403

Current assets

Cash at bank and in hand	8,989

Creditors: amounts falling due within one year	6	523,219
		---------
Net current liabilities		514,230
		---------
Total assets less current liabilities		2,173
		-------

Capital and reserves

Called up share capital	7	40
Profit and loss account		2,133
		-------
Shareholders funds		2,173
		-------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the period ending 31 March 2022 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 period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 7 September 2022 , and are signed on behalf of the board by:

Dr Shefali Rajpopat	Dr Nishal Amin
Director	Director

Company registration number: 13246199

DSR Portfolio Limited

Accounting Policies

Period ended 31 March 2022

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2020. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for property rental income and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The corporation tax represents the aggregate amount of current taxation recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Tangible assets

Tangible assets are initially recorded at cost,and represents long term leasehold investment property.

Impairment of fixed assets

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

DSR Portfolio Limited

Notes to the Financial Statements

Period ended 31 March 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Dukes Avenue, Harrow & Wealdstone, HA1 1XP, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Employee numbers

The average number of persons employed by the company during the period amounted to ( 1 ).

4. Tax on profit

Major components of tax expense

	2022
	£

Current tax:

UK current tax expense	533
	----
Tax on profit	533
	----

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the period is the same as the standard rate of corporation tax in the UK of 20 %.

	2022
	£
Profit on ordinary activities before taxation	2,666
	-------
Profit on ordinary activities by rate of tax	533
	-------

5. Tangible assets

	Long leasehold property
	£
Cost
At 1 April 2021	–
Additions	516,403
	---------
At 31 March 2022	516,403
	---------
Depreciation
At 1 April 2021 and 31 March 2022	–
	---------
Carrying amount
At 31 March 2022	516,403
	---------

The tangible asset shown above relates to a long term leasehold property held as an investment property.

6. Creditors: amounts falling due within one year

	2022
	£
Trade creditors	1,671
Corporation tax	533
Other creditors	521,015
	---------
	523,219
	---------

Other creditors represents director's loan account.

7. Called up share capital

Authorised share capital

	2022
	No.	£
Ordinary shares of £ 1 each	100	100
	----	----

Issued, called up and fully paid

	2022
	No.	£
Ordinary shares of £ 1 each	40	40
	----	----

8. Directors' advances, credits and guarantees

During the period the directors entered into the following advances and credits with the company:

	2022
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Dr Shefali Rajpopat	( 500,000)	( 21,015)	( 521,015)
	---------	--------	---------

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2020.

No transitional adjustments were required in equity or profit or loss for the year.

DSR Portfolio Limited

Management Information

Period ended 31 March 2022

The following pages do not form part of the financial statements.

DSR Portfolio Limited

Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of DSR Portfolio Limited

Period ended 31 March 2022

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the period ended 31 March 2022, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

AMCO CONSULTANCY LIMITED Accountants

781-783 Harrow Road Sudbury Town Wembley United Kingdom HA0 2LP

9 September 2022