REGISTERED NUMBER: |
DGD INVESTMENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
DGD INVESTMENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
DGD INVESTMENTS LIMITED (REGISTERED NUMBER: 05851974) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DGD INVESTMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Clarke Nicklin House |
Brooks Drive |
Cheadle Royal Business Park |
Cheadle |
Cheshire |
SK8 3TD |
DGD INVESTMENTS LIMITED (REGISTERED NUMBER: 05851974) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The directors acknowledge their 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. |
DGD INVESTMENTS LIMITED (REGISTERED NUMBER: 05851974) |
BALANCE SHEET - continued |
31 MARCH 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DGD INVESTMENTS LIMITED (REGISTERED NUMBER: 05851974) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
DGD Investments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about DGD Investments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover represents rental income for the year excluding Value Added Tax together with premiums received from tenants. Amounts invoiced in advance relating to the next accounting period are included in accruals as deferred income. |
Acquisitions and disposals of properties are recognised on the date of exchange of contracts for the purchase or sale, provided there is certainty at the balance sheet date that completion will take place. If completion is subject to a contingent event the purchase or sale is recognised on the date that the contingent event occurred. |
Tangible fixed assets |
Fixtures and fittings | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Listed Investments |
Listed investments are initially recognised at cost and are revalued to market value at the balance sheet date. Surplus or deficit on revaluation is recognised in the profit and loss account. |
DGD INVESTMENTS LIMITED (REGISTERED NUMBER: 05851974) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Investment property |
Investment properties are revalued at the accounting date and the aggregate surplus or temporary deficit is recognised in the profit and loss account. |
Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation or amortisation is provided. Any permanent diminutions in value below cost are charged to the profit and loss account. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 |
DGD INVESTMENTS LIMITED (REGISTERED NUMBER: 05851974) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group | Listed |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2023 | 16,528,057 |
Additions | 4,489,938 |
Disposals | ( |
) | (1,950,796 | ) |
Revaluations | 1,122,070 |
At 31 March 2024 | 20,189,269 |
NET BOOK VALUE |
At 31 March 2024 | 20,189,269 |
At 31 March 2023 | 16,528,057 |
Cost or valuation at 31 March 2024 is represented by: |
Shares in |
group | Listed |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2024 | 10,627,412 | 9,561,857 | 20,189,269 |
Fixed asset investments were valued on an open market basis on 31 March 2024 by Julius Baer & Co Limited. |
DGD INVESTMENTS LIMITED (REGISTERED NUMBER: 05851974) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Profit/(loss) for the year | ( |
) |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Disposals | ( |
) |
Revaluations | 2,948,592 |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2024 | 20,090,712 |
The investment property portfolio was revalued by R J Cuthbert, a chartered surveyor and director of the company at the balance sheet date. |
DGD INVESTMENTS LIMITED (REGISTERED NUMBER: 05851974) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Directors' current accounts | 242,182 | 242,182 |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Debentures | 23,319,538 | 23,319,538 |
10. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax |
Other timing differences | 1,812,485 | 1,108,703 |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Provided during year |
Balance at 31 March 2024 |
11. | ULTIMATE CONTROLLING PARTY |
The company is under the joint control of the directors R J Cuthbert and C L Cuthbert. |