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Registration number: 14571421

DPG One Ltd

Unaudited Filleted Financial Statements

for the Period from 5 January 2023 to 31 January 2024

 

DPG One Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

DPG One Ltd

(Registration number: 14571421)
Balance Sheet as at 31 January 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

4,220

Investment property

5

420,000

 

424,220

Current assets

 

Debtors

6

647

Cash at bank and in hand

 

15,834

 

16,481

Creditors: Amounts falling due within one year

7

(437,626)

Net current liabilities

 

(421,145)

Total assets less current liabilities

 

3,075

Provisions for liabilities

(6,452)

Net liabilities

 

(3,377)

Capital and reserves

 

Called up share capital

8

1

Other reserves

27,506

Retained earnings

(30,884)

Shareholders' deficit

 

(3,377)

 

DPG One Ltd

(Registration number: 14571421)
Balance Sheet as at 31 January 2024

For the financial period ending 31 January 2024 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 period 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 5 October 2024 and signed on its behalf by:
 

.........................................
J P De Cruz
Director

.........................................
J H De Cruz
Director

.........................................
M C Williams
Director

 

DPG One Ltd

Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 January 2024

1

General information

The company, registered number 14571421, is a private company limited by share capital, incorporated in England and Wales. The address of its registered office is Airport Business Centre, 10 Thornbury Road, Plymouth, PL6 7PP, United Kingdom.

These financial statements were authorised for issue by the Board on 5 October 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.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

 

DPG One Ltd

Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 January 2024

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% Straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. The fair value is reviewed at each reporting date, and is derived from observable market prices, adjusted if necessary for any differences in the nature, location, or condition of the specific asset. Changes in fair value are recognised in profit or loss as they arise.

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.

 

DPG One Ltd

Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 January 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 period, was 3.

 

DPG One Ltd

Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 January 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

Additions

4,292

4,292

At 31 January 2024

4,292

4,292

Depreciation

Charge for the period

72

72

At 31 January 2024

72

72

Carrying amount

At 31 January 2024

4,220

4,220

5

Investment properties

2024
£

Additions

386,042

Fair value adjustments

33,958

At 31 January

420,000

As of the reporting date, the directors assessed the fair value of the property at £420,000. In making this assessment, the directors considered the works undertaken on the property up to the reporting date, as well as a professional valuation conducted after the completion of the works, which occurred after the year-end.

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

Prepayments

647

 

647

 

DPG One Ltd

Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

9

299,690

Trade creditors

 

7

Accruals and deferred income

 

13,057

Other creditors

 

124,872

 

437,626


Creditors include bank loans of £274,607 which are secured against the investment property included within the financial statements.

The company has a floating charge held over all the property or undertakings of the company.

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £0.01 each

100

1

   

9

Loans and borrowings

Current loans and borrowings

2024
£

Bank borrowings

274,607

Other borrowings

25,083

299,690

 

DPG One Ltd

Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 January 2024

10

Related party transactions

Loans from related parties

Included within other creditors are the following loans from directors:

2024

Directors
£

Total
£

Advanced

122,249

122,249

At end of period

122,249

122,249

Terms of loans from related parties

The above loans are unsecured, interest free and repayable on demand.
 

Guarantee

The directors and companies with a participating interest in the company provided a guarantee in respect of the bank loan entered into by the company.