Company Registration No. 09881341 (England and Wales)
DL Property Group Limited
Unaudited accounts
for the year ended 30 November 2022
DL Property Group Limited
Unaudited accounts
Contents
DL Property Group Limited
Company Information
for the year ended 30 November 2022
Directors
David Lamb
Susan Lamb
Company Number
09881341 (England and Wales)
Registered Office
Office 4114a
The Bizhub
Durham
TS23 4EA
Accountants
Waite Accountants Limited
Hope Street Xchange
1-3 Hind Street
Sunderland
SR1 3QD
DL Property Group Limited
Statement of financial position
as at 30 November 2022
Investment property
1,035,000
1,030,000
Cash at bank and in hand
47,433
30,863
Creditors: amounts falling due within one year
(328,668)
(261,164)
Net current liabilities
(56,188)
(84,926)
Total assets less current liabilities
978,812
945,074
Creditors: amounts falling due after more than one year
(587,311)
(502,862)
Provisions for liabilities
Deferred tax
(83,449)
(83,024)
Net assets
308,052
359,188
Called up share capital
12
12
Profit and loss account
308,040
359,176
Shareholders' funds
308,052
359,188
For the year ending 30 November 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 27 November 2023 and were signed on its behalf by
David Lamb
Director
Company Registration No. 09881341
DL Property Group Limited
Notes to the Accounts
for the year ended 30 November 2022
DL Property Group Limited is a private company, limited by shares, registered in England and Wales, registration number 09881341. The registered office is Office 4114a, The Bizhub, Durham, TS23 4EA.
2
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 December 2021
1,030,000
Net loss from fair value adjustments
(57,765)
At 30 November 2022
1,035,000
Investment property has been valued at fair value based on estimates by the directors.
DL Property Group Limited
Notes to the Accounts
for the year ended 30 November 2022
Amounts falling due within one year
Accrued income and prepayments
17,497
-
Other debtors
207,550
145,375
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
5,555
5,556
Other creditors
209,242
49,999
Loans from directors
113,871
205,609
7
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
565,798
481,782
Other creditors
20,000
20,000
Aggregate of amounts that fall due for payment after five years
565,798
481,782
8
Deferred taxation
2022
2021
Accelerated capital allowances
83,449
83,024
Provision at start of year
83,024
63,083
Charged to the profit and loss account
425
19,941
Provision at end of year
83,449
83,024
9
Transactions with related parties
Key management personnel of the entity (in the aggregate)
Amount due to related party
2022: £113,871 (2021: £205,609)
No interest is charged on the above loans.
DL Property Group Limited
Notes to the Accounts
for the year ended 30 November 2022
10
Average number of employees
During the year the average number of employees was 2 (2021: 2).