DS DITTON LIMITED

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DS DITTON LIMITED

Registered Number
10234476
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2022

DS DITTON LIMITED

Company Information
for the year from 1 July 2021 to 30 June 2022


Directors	SCHIAVO, Paul David Anthony


Registered Address	White Lyon House Perry Hill
	Worplesdon
	Guildford
	GU3 3RE


Registered Number	10234476 (England and Wales)

DS DITTON LIMITED

Balance Sheet as at
30 June 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	7		8,250		12,375
			8,250		12,375
Current assets
Stocks		1,091,581		3,351,475
Debtors		988,008		621,372
Cash at bank and on hand		27,911		261
		2,107,500		3,973,108
Creditors amounts falling due within one year		(2,242,045)		(1,223,984)
Net current assets (liabilities)			(134,545)		2,749,124
Total assets less current liabilities			(126,295)		2,761,499
Creditors amounts falling due after one year			(34,941)		(2,886,858)
Net assets			(161,236)		(125,359)
Capital and reserves
Called up share capital			402		402
Profit and loss account			(161,638)		(125,761)
Shareholders' funds			(161,236)		(125,359)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 23 March 2023, and are signed on its behalf by:

SCHIAVO, Paul David Anthony
Director
Registered Company No. 10234476

DS DITTON LIMITED

Notes to the Financial Statements
for the year ended 30 June 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	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.

3.	Principal activities
	The principal activity of the company in the year under review was that of property development.

4.	Basis of measurement used in financial statements
	At the balance sheet date the company had net liabilities of £161,237 (2021: £125,359). The financial statements have been prepared on the going concern basis which assumes that the company will continue as a going concern for the foreseeable future. The validity of this assumption depends on the continuing support of the company creditors to provide adequate financial support and by not seeking repayment of amounts owed to them. The directors have no reason to believe this support is not forthcoming and accordingly believe it appropriate to prepare the financial statements on the going concern basis.

Basis of measurement used in financial statements

At the balance sheet date the company had net liabilities of £161,237 (2021: £125,359).  The financial statements have been prepared on the going concern basis which assumes that the company will continue as a going concern for the foreseeable future. The validity of this assumption depends on the continuing support of the company creditors to provide adequate financial support and by not seeking repayment of amounts owed to them.  The directors have no reason to believe this support is not forthcoming and accordingly believe it appropriate to prepare the financial statements on the going concern basis.

5.	Accounting policies

	Turnover policy
	Turnover comprises revenue recognised by the Company in respect of the sale of properties developed by the Company, and is recognised upon exchange for sale of the relevant site, exclusive of value added tax.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	4

	Stocks policy
	Stock and work in progress comprise developments in progress. Developments in progress include land and units in the course of construction and include the cost of the land and the construction costs incurred to date.

	Taxation policy
	Taxation for the year 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.

Taxation policy

Taxation for the year 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 policy
	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 year 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.

Deferred tax policy

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 year 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.

	Government grants and other government assistance policy
	Grants which relate to revenue are recognised in income in the period the related costs are incurred by the company for which the grant is intended to compensate.

6.	Employee information


		2022		2021
	Average number of employees during the year	1		1

7.	Property, plant and equipment

		Total
		£
	Cost or valuation
	At 01 July 21	16,500
	At 30 June 22	16,500
	Depreciation and impairment
	At 01 July 21	4,125
	Charge for year	4,125
	At 30 June 22	8,250
	Net book value
	At 30 June 22	8,250
	At 30 June 21	12,375

8.	Description of nature of transactions and balances with related parties
	Entities under common control During the year the Company made purchases in the sum of £2,282,892 (2021: £1,042,407) from entities under common control. At the year end £773,161 (2021: £620,432) was owed to the company. Fallglow Limited - a shareholder At the year end £1,194,799 (2021: £1,194,799) was owed to Fallglow Limited. Sanger Holdings Limited - a shareholder During the year a dividend was paid to Sanger Holdings Limited in the sum of £nil (2021: £145,821). At the time the dividend was paid in the previous year the directors had drawn up accounts to support the payment of a dividend after tax, after which Sanger Holdings Limited ceased to be a shareholder. Activities since that date have incurred costs such that the directors acknowledge no further distributions can be made until there are sufficient profits available for that purpose. At the year end £nil (2021: £nil) was owed to Sanger Holdings Limited.

Description of nature of transactions and balances with related parties

Entities under common control

During the year the Company made purchases in the sum of £2,282,892 (2021: £1,042,407) from entities under common control. At the year end £773,161 (2021: £620,432) was owed to the company.

Fallglow Limited - a shareholder

At the year end £1,194,799 (2021: £1,194,799) was owed to Fallglow Limited.

Sanger Holdings Limited - a shareholder

During the year a dividend was paid to Sanger Holdings Limited in the sum of £nil (2021: £145,821). At the time the dividend was paid in the previous year the directors had drawn up accounts to support the payment of a dividend after tax, after which Sanger Holdings Limited ceased to be a shareholder. Activities since that date have incurred costs such that the directors acknowledge no further distributions can be made until there are sufficient profits available for that purpose. At the year end £nil (2021: £nil) was owed to Sanger Holdings Limited.

9.	Further information regarding the company's financial position
	Bank and other loans in the sum of £785,117 (2021: £2,841,577) are secured.