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Registration number: 13438529

DGR Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

DGR Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

DGR Properties Limited

Company Information

Directors

Mr Kevin James Harfield

Mr Gary Jones

Mr Ryan Timms

Registered office

Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

Accountants

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

DGR Properties Limited

(Registration number: 13438529)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

271,029

271,029

Current assets

 

Debtors

5

70

70

Cash at bank and in hand

 

18,851

10,900

 

18,921

10,970

Creditors: Amounts falling due within one year

6

(286,247)

(284,529)

Net current liabilities

 

(267,326)

(273,559)

Net assets/(liabilities)

 

3,703

(2,530)

Capital and reserves

 

Called up share capital

7

70

70

Retained earnings

3,633

(2,600)

Shareholders' funds/(deficit)

 

3,703

(2,530)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 March 2024 and signed on its behalf by:
 

.........................................
Mr Kevin James Harfield
Director

 

DGR Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN
England

These financial statements were authorised for issue by the Board on 11 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

DGR Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

DGR Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2022

271,029

271,029

At 30 June 2023

271,029

271,029

Depreciation

Carrying amount

At 30 June 2023

271,029

271,029

At 30 June 2022

271,029

271,029

Included within the net book value of land and buildings above is £271,029 (2022 - £271,029) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Freehold was revalued on 19 December 2022. An independent valuer was not involved.
The fair value was ascertained by reference to a buy to let valuation report undertaken by a mortgage broker. The value was considered to be £270,000. The resulting revaluation is not considered material..
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £271,029 (2022 - £271,029).

5

Debtors

Current

2023
£

2022
£

Other debtors

70

70

 

DGR Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

852

-

Accruals and deferred income

750

750

Other creditors

284,645

283,779

286,247

284,529

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinart of £1 each

70

70

70

70

         

8

Related party transactions

Summary of transactions with other related parties

Other creditors includes loans from Carmel (UK) Limited. The directors of DGR Properties Limited are also directors of Carmel (UK) Limited.
 

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

283,779

283,779

Advanced

867

867

At end of period

284,646

284,646

2022

Other related parties
£

Total
£

Advanced

283,779

283,779

At end of period

283,779

283,779