Company Registration No. 08703421 (England and Wales)
DNG KIDDERMINSTER PROPERTIES LTD
Unaudited accounts
for the year ended 30 September 2022
DNG KIDDERMINSTER PROPERTIES LTD
Unaudited accounts
Contents
DNG KIDDERMINSTER PROPERTIES LTD
Company Information
for the year ended 30 September 2022
Directors
Guillaume De La Gorce
Nicholas James Sellman
Company Number
08703421 (England and Wales)
Registered Office
TOUTHILL PLACE
TOUTHILL CLOSE
PETERBOROUGH
PE1 1FU
ENGLAND
DNG KIDDERMINSTER PROPERTIES LTD
Statement of financial position
as at 30 September 2022
Tangible assets
220,000
220,000
Investments
1,164,643
1,164,643
Cash at bank and in hand
2,934
3,212
Creditors: amounts falling due within one year
(5,022)
-
Net current assets
1,399,831
21,921
Total assets less current liabilities
2,784,474
1,406,564
Creditors: amounts falling due after more than one year
(2,581,529)
(1,153,741)
Provisions for liabilities
Deferred tax
(22,654)
(22,654)
Net assets
180,291
230,169
Called up share capital
100
100
Revaluation reserve
113,269
113,269
Profit and loss account
66,922
116,800
Shareholders' funds
180,291
230,169
For the year ending 30 September 2022 the company was entitled to exemption from audit 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 directors acknowledge 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 and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by
Guillaume De La Gorce
Director
Company Registration No. 08703421
DNG KIDDERMINSTER PROPERTIES LTD
Notes to the Accounts
for the year ended 30 September 2022
DNG KIDDERMINSTER PROPERTIES LTD is a private company, limited by shares, registered in England and Wales, registration number 08703421. The registered office is TOUTHILL PLACE, TOUTHILL CLOSE, PETERBOROUGH, PE1 1FU, ENGLAND.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
DNG KIDDERMINSTER PROPERTIES LTD
Notes to the Accounts
for the year ended 30 September 2022
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying
amount would have been had the impairment not previously been recognised.
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
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Tangible fixed assets
Land & buildings
At 30 September 2022
220,000
At 30 September 2022
220,000
At 30 September 2021
220,000
DNG KIDDERMINSTER PROPERTIES LTD
Notes to the Accounts
for the year ended 30 September 2022
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Investments
Subsidiary undertakings
Valuation at 1 October 2021
1,164,643
Valuation at 30 September 2022
1,164,643
Investments are measured at fair value with changes in fair value being recognised in profit or loss.
Amounts falling due within one year
Accrued income and prepayments
2,470
-
Other debtors
11,891
18,709
Amounts falling due after more than one year
Amounts due from group undertakings etc.
1,378,187
-
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Creditors: amounts falling due within one year
2022
2021
8
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
2,371,271
194,026
Amounts owed to group undertakings and other participating interests
108,996
550,318
Other creditors
101,262
409,397
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Deferred taxation
2022
2021
Revaluation of land and buildings
22,654
22,654
Provision at start of year
22,654
22,654
Provision at end of year
22,654
22,654
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Average number of employees
During the year the average number of employees was 0 (2021: 0).