ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

DURRANT PROPERTIES LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-03-312022-03-31falsefalse2021-04-01property investmeny00trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03161714 2021-04-01 2022-03-31 03161714 2020-04-01 2021-03-31 03161714 2022-03-31 03161714 2021-03-31 03161714 c:Director1 2021-04-01 2022-03-31 03161714 d:LeaseholdInvestmentProperty 2022-03-31 03161714 d:LeaseholdInvestmentProperty 2021-03-31 03161714 d:LeaseholdInvestmentProperty 2 2021-04-01 2022-03-31 03161714 d:CurrentFinancialInstruments 2022-03-31 03161714 d:CurrentFinancialInstruments 2021-03-31 03161714 d:Non-currentFinancialInstruments 2022-03-31 03161714 d:Non-currentFinancialInstruments 2021-03-31 03161714 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03161714 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 03161714 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 03161714 d:Non-currentFinancialInstruments d:AfterOneYear 2021-03-31 03161714 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 03161714 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-03-31 03161714 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 03161714 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-03-31 03161714 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 03161714 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-03-31 03161714 d:ShareCapital 2022-03-31 03161714 d:ShareCapital 2021-03-31 03161714 d:RetainedEarningsAccumulatedLosses 2022-03-31 03161714 d:RetainedEarningsAccumulatedLosses 2021-03-31 03161714 c:OrdinaryShareClass1 2021-04-01 2022-03-31 03161714 c:OrdinaryShareClass1 2022-03-31 03161714 c:OrdinaryShareClass1 2021-03-31 03161714 c:FRS102 2021-04-01 2022-03-31 03161714 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 03161714 c:FullAccounts 2021-04-01 2022-03-31 03161714 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03161714

DURRANT PROPERTIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022


DURRANT PROPERTIES LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 6


DURRANT PROPERTIES LIMITED REGISTERED NUMBER:03161714

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2022

		2022		2021
Note		£		£

Fixed assets
Investment property			205,000		230,000
Current assets
Debtors: amounts falling due within one year	5	101,390		104,391
Cash at bank and in hand		1,715		2,113
		103,105		106,504
Current liabilities
Creditors: amounts falling due within one year	6	(242,519)		(238,054)
Net current liabilities			(139,414)		(131,550)
Total assets less current liabilities			65,586		98,450
Creditors: amounts falling due after more than one year	7		(16,335)		(20,825)
Net assets			49,251		77,625

Capital and reserves
Called up share capital	9	99	99
Profit and loss account		49,152	77,526
		49,251	77,625

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 February 2023.

R S Lewis

Director

The notes on pages 3 to 6 form part of these financial statements.

Page 1


DURRANT PROPERTIES LIMITED REGISTERED NUMBER:03161714

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2022

Page 2


DURRANT PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1.	General information

Durrant Properties Limited is a private limited liability company incorporated in England and Wales with its registered office address at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the Company is of property investment.
The functional and presentational currency of the Company is £ sterling.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover represents rents receivable.
Turnover is recognised in the period to which the rental income relates.

2.3

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

2.4

Debtors

Short term debtors are measured at the transaction price, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.6

Creditors

Short term creditors are measured at the transaction price.

2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Page 3


DURRANT PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2021 - £NIL)

4.	Investment property

		Long term leasehold investment property
		£
	Valuation
	At 1 April 2021	230,000
	Deficit on revaluation	(25,000)
	At 31 March 2022	205,000

The 2022 valuations were made by the director, on an open market value for existing use basis.

Page 4


DURRANT PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Debtors

					2022	2021
					£	£


Other debtors	101,390	104,391

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Bank loan	4,900	3,675
Other loan	142,663	140,001
Other creditors	92,256	92,758
Accruals and deferred income	2,700	1,620
	242,519	238,054

The other loan is secured by a charge over the investment property of the company.

7.	Creditors: Amounts falling due after more than one year
		2022	2021
		£	£

	Bank loan	16,335	20,825

Page 5


DURRANT PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Amounts falling due within one year
Bank loan	4,900	3,675
Other loan	142,663	140,001
Amounts falling due 1-2 years
Bank loan	4,900	4,900
Amounts falling due 2-5 years
Bank loan	11,435	14,700
Amounts falling due after more than 5 years
Bank loan	-	1,225
	163,898	164,501

9.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

99 (2021 - 99) Ordinary shares of £1 each	99	99

Page 6