D&G Block Management Holdings Limited
Annual Report and Unaudited Financial Statements
For the year ended 31 March 2024
Company Registration No. 09903385 (England and Wales)
D&G Block Management Holdings Limited
Company Information
Directors
P.D.T. Willcox
M.E. Hodgson MA, FRICS, MIRPM
R. Zaveri FCCA
J. Hodgson
C.S. Watson
P. Barham
Secretary
R. Zaveri FCCA
Company number
09903385
Registered office
192-198 Vauxhall Bridge Road
London
United Kingdom
SW1V 1DX
Accountants
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
D&G Block Management Holdings Limited
Contents
Page
Directors' report
1
Accountants' report
2
Income statement
3
Statement of financial position
4
Statement of changes in equity
5
Notes to the financial statements
6 - 9
D&G Block Management Holdings Limited
Directors' Report
For the year ended 31 March 2024
Page 1
The directors present their annual report and financial statements for the year ended 31 March 2024.
Principal activities
The company's principal activity is that of a holding company.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
P.D.T. Willcox
M.E. Hodgson MA, FRICS, MIRPM
R. Zaveri FCCA
J. Hodgson
C.S. Watson
P. Barham
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
By order of the board
R. Zaveri FCCA
Secretary
31 October 2024
D&G Block Management Holdings Limited
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of D&G Block Management Holdings Limited for the year ended 31 March 2024
Page 2
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of D&G Block Management Holdings Limited for the year ended 31 March 2024 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of D&G Block Management Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 23 August 2019. Our work has been undertaken solely to prepare for your approval the financial statements of D&G Block Management Holdings Limited and state those matters that we have agreed to state to the Board of Directors of D&G Block Management Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D&G Block Management Holdings Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that D&G Block Management Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of D&G Block Management Holdings Limited. You consider that D&G Block Management Holdings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of D&G Block Management Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Moore Kingston Smith LLP
8 November 2024
Chartered Accountants
6th Floor
9 Appold Street
London
EC2A 2AP
D&G Block Management Holdings Limited
Income Statement
For the year ended 31 March 2024
Page 3
2024
2023
£
£
Administrative expenses
(2,913)
(2,214)
Loss before taxation
(2,913)
(2,214)
Tax on loss
(705)
Loss for the financial year
(2,913)
(2,919)
D&G Block Management Holdings Limited
Statement of Financial Position
As at 31 March 2024
Page 4
2024
2024
2023
2023
Notes
£
£
£
£
Fixed assets
Investments
3
985
985
Current assets
Trade and other receivables
4
57,890
52,610
Cash and cash equivalents
46,679
56,999
104,569
109,609
Payables: amounts falling due within one year
5
(2,513)
(4,640)
Net current assets
102,056
104,969
Total assets less current liabilities
103,041
105,954
Equity
Called up share capital
6
2,473
2,473
Share premium account
7
72,837
72,837
Retained earnings
27,731
30,644
Total equity
103,041
105,954
For the financial year ended 31 March 2024 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 members have 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 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 31 October 2024 and are signed on its behalf by:
M.E. Hodgson MA, FRICS, MIRPM
Director
Company Registration No. 09903385
D&G Block Management Holdings Limited
Statement of Changes in Equity
For the year ended 31 March 2024
Page 5
Share capital
Share premium account
Retained earnings
Total
£
£
£
£
Balance at 1 April 2022
2,473
72,837
33,563
108,873
Year ended 31 March 2023:
Loss and total comprehensive income for the year
-
-
(2,919)
(2,919)
Balance at 31 March 2023
2,473
72,837
30,644
105,954
Year ended 31 March 2024:
Loss and total comprehensive expenditure for the year
-
-
(2,913)
(2,913)
Balance at 31 March 2024
2,473
72,837
27,731
103,041
D&G Block Management Holdings Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Page 6
1
Accounting policies
Company information
D&G Block Management Holdings Limited is a private company limited by shares domiciled and incorporated in England and Wales. The registered office is 192-198 Vauxhall Bridge Road, London, United Kingdom, SW1V 1DX.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Group accounts
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts as it is a small group. The financial statements present information about the company as an individual entity and not about its group.
1.3
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.5
Financial instruments
Basic financial instruments are measured at cost. The company has no other financial instruments or basic financial instruments measured at fair value.
1.6
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.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
D&G Block Management Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 7
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was nil (2023: nil)
3
Fixed asset investments
2024
2023
£
£
Investments
985
985
4
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Amounts due from group undertakings
57,409
52,169
Other receivables - unpaid share capital
1
1
Other receivables
480
440
57,890
52,610
D&G Block Management Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 8
5
Payables: amounts falling due within one year
2024
2023
£
£
Trade payables
2,640
Other payables
13
-
Accruals and deferred income
2,500
2,000
2,513
4,640
There is a fixed and floating charge effective 29 October 2021 over all assets held by D&G Block Management Holdings Limited in favor of National Westminster Bank Plc relating to the loan advanced to the company's parent undertaking which amounted to £355,183 (2023: £925,264) at the balance sheet date.
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
247,300 Ordinary shares of 1p each
2,473
2,473
2,473
2,473
7
Share premium account
2024
2023
£
£
At the beginning and end of the year
72,837
72,837
D&G Block Management Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 9
8
Related party transactions
The company has taken advantage of the exemption available in accordance with FRS 102 section 33 'Related Party Disclosures' not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the company which it is party to the transactions.
9
Subsidiaries
These financial statements are separate company financial statements for D&G Block Management Holdings Limited.
Details of the company's subsidiaries at 31 March 2024 are as follows:
Name of undertaking and country of
Nature of business
Class of
% Held
incorporation or residency
shareholding
D&G Block Management Limited
England and Wales
Property management
Ordinary
100.00
Residential Partners Limited*
England and Wales
Payroll services
Ordinary
100.00
D&G BM Limited*
England and Wales
Dormant
Ordinary
100.00
* This is an indirect holding.
10
Parent company
The ultimate parent company is Meadowbridge 42 Limited, a company registered in England and Wales, whose registered office is 192-198 Vauxhall Bridge Road, London, SW1V 1DX.
There is no ultimate controlling party of Meadowbridge 42 Limited.
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