REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2022 |
for |
DPM INVESTMENTS LTD |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2022 |
for |
DPM INVESTMENTS LTD |
DPM INVESTMENTS LTD (REGISTERED NUMBER: 09369672) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DPM INVESTMENTS LTD |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
42 Lytton Road |
Barnet |
Hertfordshire |
EN5 5BY |
DPM INVESTMENTS LTD (REGISTERED NUMBER: 09369672) |
Balance Sheet |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non distributable reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
DPM INVESTMENTS LTD (REGISTERED NUMBER: 09369672) |
Balance Sheet - continued |
31 December 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
DPM INVESTMENTS LTD (REGISTERED NUMBER: 09369672) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
DPM Investments Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents gross invoiced value of rental income received and other investments. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
It is in the opinion of the directors, from taking relevant advice, that the valuation of the investment property is £300,000 as at the 31 December 2021. The valuation is on an open market, existing use basis. |
Taxation |
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 |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
DPM INVESTMENTS LTD (REGISTERED NUMBER: 09369672) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
4. | FIXED ASSET INVESTMENTS |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2022 | 99,983 |
Additions | 44 |
Disposals | ( |
) | (65,682 | ) |
Revaluations | ( |
) | (9,368 | ) |
At 31 December 2022 | 24,977 |
NET BOOK VALUE |
At 31 December 2022 | 24,977 |
At 31 December 2021 | 99,983 |
Cost or valuation at 31 December 2022 is represented by: |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
Valuation in 2019 | 3,556 | - | 3,556 |
Valuation in 2020 | 22,217 | - | 22,217 |
Valuation in 2021 | (3,452 | ) | - | (3,452 | ) |
Valuation in 2022 | (9,368 | ) | - | (9,368 | ) |
Cost | 12,023 | 1 | 12,024 |
24,976 | 1 | 24,977 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2022 |
Revaluations | 49,000 |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
Fair value at 31 December 2022 is represented by: |
£ |
Valuation in 2016 | 37,000 |
Valuation in 2018 | 9,917 |
Valuation in 2019 | 2,000 |
Valuation in 2020 | 10,000 |
Valuation in 2021 | 13,000 |
Valuation in 2022 | 49,000 |
Cost | 228,083 |
349,000 |
DPM INVESTMENTS LTD (REGISTERED NUMBER: 09369672) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Amounts owed by group undertakings |
Directors' current accounts | 53,798 | - |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Tax |
Directors' current accounts | - | 21,251 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.22 | 31.12.21 |
£ | £ |
Bank loans |
Bank loans of £183,113 (2021: £181,304) are secured against the investment property held by the company. |
9. | PROVISIONS FOR LIABILITIES |
31.12.22 | 31.12.21 |
£ | £ |
Deferred tax | 23,707 | 17,913 |
Deferred |
tax |
£ |
Balance at 1 January 2022 |
Provided during year |
Balance at 31 December 2022 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021: |
31.12.22 | 31.12.21 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
DPM INVESTMENTS LTD (REGISTERED NUMBER: 09369672) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued |
As at the balance sheet date, included in debtors due within one year is £55,798 (2021: £21,251 due to), due and payable by the director. During the period interest totalling £479 was charged on the overdrawn loan account at 2.0%. This amount was repaid within nine months of the year end. |
11. | RELATED PARTY DISCLOSURES |
As at the balance sheet date the company owed £53,872 to African Adventures Ltd (2021: £14,000 was owed), a company in which there is common ownership and control. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr D P Mew. |