Davies Properties Management Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC702199 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

21 JUNE 2021 TO 30 JUNE 2022

FOR

DAVIES PROPERTIES MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

H J Davies

REGISTERED OFFICE:

3 Lydgait Gardens

Haddington

EH41 3DB

REGISTERED NUMBER:

SC702199 (Scotland)

ACCOUNTANTS:

Mc Creath & Co Limited

Bank House

20A Strathearn Road

Edinburgh

EH9 2AB

FIXED ASSETS

Investment property

4

215,000

CURRENT ASSETS

Cash at bank

6

CREDITORS

Amounts falling due within one year

5

228,764

NET CURRENT LIABILITIES

(228,758

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(13,758

)

CAPITAL AND RESERVES

Called up share capital

6

1

Fair value reserve

7

(15,838

)

Retained earnings

7

2,079

SHAREHOLDERS' FUNDS

(13,758

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 February 2023 and were signed by:

H J Davies - Director

1.	STATUTORY INFORMATION

Davies Properties Management Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

230,838

Revaluations

(15,838

)

At 30 June 2022

215,000

NET BOOK VALUE

At 30 June 2022

215,000

Fair value at 30 June 2022 is represented by:

£

Valuation in 2022

(15,838

)

Cost

230,838

215,000

If investment property had not been revalued it would have been included at the following historical cost:

£

Cost

230,838

investment property was valued on an open market basis basis on 19 July 2022 by Allied Surveyors Scotland plc .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Corporation tax

957

Director's loan account

226,307

Accrued expenses

1,500

228,764

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary

£1

1

1 Ordinary share of £1 was allotted and fully paid for cash at par during the period.

7.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

Deficit for the period

(11,759

)

(11,759

)

Dividends

(2,000

)

(2,000

)

Fair value adjustment

15,838

(15,838

)

-

At 30 June 2022

2,079

(15,838

)

(13,759

)