Company registration number 09293430 (England and Wales)
DGW INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
DGW INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
DGW INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
1,503,115
1,503,115
Current assets
Debtors
4
29,790
16,875
Cash at bank and in hand
55,178
12,466
84,968
29,341
Creditors: amounts falling due within one year
5
(1,404,915)
(1,399,110)
Net current liabilities
(1,319,947)
(1,369,769)
Net assets
183,168
133,346
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
183,068
133,246
Total equity
183,168
133,346

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 24 May 2024 and are signed on its behalf by:
Miss N A Watters
Director
Company registration number 09293430 (England and Wales)
DGW INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

DGW Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is reliant upon the financial support of a connected company. The directors have indicated that this support will continue for the foreseeable future and, as a result, have continued to adopt the going concern basis in preparing the financial statements.true

1.3
Turnover

Turnover represents amounts received for rents.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

DGW INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
1,503,115

The company's investment properties are stated at cost in these financial statements. The company directors believe this is not significantly different to their fair value.

 

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
29,790
16,875
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
12,560
6,207
Other creditors
1,392,355
1,392,903
1,404,915
1,399,110
DGW INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Related party transactions

During the year the company operated a loan account with a connected company, Supalite Holdings Ltd. At the balance sheet date this company owed an amount of £1,390,289 (2022 - £1,390,289) to Supalite Holdings Ltd.

8
Directors' transactions

During the year, the company operated a loan account with the director. At the balance sheet date, the company was owed an amount of £28,915 from Mr D Watters (2022 - £993 owed to the director). Interest has been charged on the overdrawn balance at a rate of 2%. The maximum overdrawn balance during the year was £28,915.

2023-12-312023-01-01false24 May 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr D WattersMiss N A Wattersfalsefalse092934302023-01-012023-12-31092934302023-12-31092934302022-12-3109293430core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3109293430core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3109293430core:CurrentFinancialInstruments2023-12-3109293430core:CurrentFinancialInstruments2022-12-3109293430core:ShareCapital2023-12-3109293430core:ShareCapital2022-12-3109293430core:RetainedEarningsAccumulatedLosses2023-12-3109293430core:RetainedEarningsAccumulatedLosses2022-12-3109293430bus:Director22023-01-012023-12-31092934302022-01-012022-12-31092934302022-12-3109293430core:WithinOneYear2023-12-3109293430core:WithinOneYear2022-12-3109293430bus:PrivateLimitedCompanyLtd2023-01-012023-12-3109293430bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109293430bus:FRS1022023-01-012023-12-3109293430bus:AuditExemptWithAccountantsReport2023-01-012023-12-3109293430bus:Director12023-01-012023-12-3109293430bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP