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REGISTERED NUMBER: 09036717 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

DYNAMIC PROPERTY MANAGEMENT NORTH
EAST LIMITED

DYNAMIC PROPERTY MANAGEMENT NORTH
EAST LIMITED (REGISTERED NUMBER: 09036717)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DYNAMIC PROPERTY MANAGEMENT NORTH
EAST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: R M Hall
W P Norton





REGISTERED OFFICE: Lumley House
Whitfield Court
St. Johns Road
Meadowfield
Durham
DH7 8XL





REGISTERED NUMBER: 09036717 (England and Wales)





ACCOUNTANTS: Ribchesters
Chartered Accountants
Finchale House
Belmont Business Park
Durham
DH1 1TW

DYNAMIC PROPERTY MANAGEMENT NORTH
EAST LIMITED (REGISTERED NUMBER: 09036717)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,150 8,550
Tangible assets 5 1,877 1,936
5,027 10,486

CURRENT ASSETS
Stocks 4,000 4,000
Debtors 6 78,377 75,112
Cash at bank - 6,846
82,377 85,958
CREDITORS
Amounts falling due within one year 7 65,339 45,522
NET CURRENT ASSETS 17,038 40,436
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,065

50,922

CREDITORS
Amounts falling due after more than one
year

8

(20,000

)

(30,000

)

PROVISIONS FOR LIABILITIES (469 ) (484 )
NET ASSETS 1,596 20,438

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 1,595 20,437
SHAREHOLDERS' FUNDS 1,596 20,438

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

DYNAMIC PROPERTY MANAGEMENT NORTH
EAST LIMITED (REGISTERED NUMBER: 09036717)

BALANCE SHEET - continued
31 MAY 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:





W P Norton - Director


DYNAMIC PROPERTY MANAGEMENT NORTH
EAST LIMITED (REGISTERED NUMBER: 09036717)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Dynamic Property Management North East Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is derived from the company's principal activity, which is that of property sales and lettings, property maintenance and property management.

Turnover represents net invoiced sale of services, excluding value added tax, and is recognised in the period the service occurs.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


DYNAMIC PROPERTY MANAGEMENT NORTH
EAST LIMITED (REGISTERED NUMBER: 09036717)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued
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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 27,000
AMORTISATION
At 1 June 2022 18,450
Charge for year 5,400
At 31 May 2023 23,850
NET BOOK VALUE
At 31 May 2023 3,150
At 31 May 2022 8,550

DYNAMIC PROPERTY MANAGEMENT NORTH
EAST LIMITED (REGISTERED NUMBER: 09036717)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 6,662
Additions 1,145
At 31 May 2023 7,807
DEPRECIATION
At 1 June 2022 4,726
Charge for year 1,204
At 31 May 2023 5,930
NET BOOK VALUE
At 31 May 2023 1,877
At 31 May 2022 1,936

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 7,500 7,500
Amounts owed by group undertakings 50,336 35,734
Other debtors 17,741 31,878
75,577 75,112

Amounts falling due after more than one year:
Other debtors 2,800 -

Aggregate amounts 78,377 75,112

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,244 10,000
Trade creditors 38,910 10,883
Taxation and social security 8,768 21,310
Other creditors 4,417 3,329
65,339 45,522

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 20,000 30,000

DYNAMIC PROPERTY MANAGEMENT NORTH
EAST LIMITED (REGISTERED NUMBER: 09036717)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 21,438 14,000
Between one and five years 5,572 2,333
27,010 16,333

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Within its normal operations, the company manages investment properties owned by the directors and by members of the director's family. These services are charged on a costs-incurred basis.

During the year the company maintained interest free loans to companies related by way of a common director. As at the balance sheet date the total amount outstanding was £10,133 (2022: £9,876).