Registration number:
DPG One Ltd
for the Period from 5 January 2023 to 31 January 2024
DPG One Ltd
(Registration number: 14571421)
Balance Sheet as at 31 January 2024
Note |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
1 |
|
Other reserves |
27,506 |
|
Retained earnings |
(30,884) |
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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:
• |
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• |
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
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DPG One Ltd
Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 January 2024
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
These financial statements were authorised for issue by the
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
DPG One Ltd
Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 January 2024
Tangible assets |
Fixtures and fittings |
Total |
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Cost or valuation |
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Additions |
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At 31 January 2024 |
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Depreciation |
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Charge for the period |
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At 31 January 2024 |
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Carrying amount |
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At 31 January 2024 |
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Investment properties |
2024 |
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Additions |
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Fair value adjustments |
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At 31 January |
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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.
Debtors |
Current |
2024 |
Prepayments |
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|
DPG One Ltd
Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 January 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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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.
Share capital |
Allotted, called up and fully paid shares
2024 |
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No. |
£ |
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1 |
Loans and borrowings |
Current loans and borrowings
2024 |
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Bank borrowings |
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Other borrowings |
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DPG One Ltd
Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 January 2024
Related party transactions |
Loans from related parties
Included within other creditors are the following loans from directors:
2024 |
Directors |
Total |
Advanced |
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At end of period |
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Terms of loans from related parties
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.