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Filleted

Registration number: 10296605

DTG Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

DTG Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

DTG Properties Limited

Company Information

Director

Mr D T G Davies

Registered office

16 Axis Court
Mallard Way
Riverside Buisness Park
Swansea
SA7 0AJ

 

DTG Properties Limited

(Registration number: 10296605)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

3,387

640,831

Investment property

6

636,429

-

 

639,816

640,831

Current assets

 

Debtors

7

6,713

2,787

Cash at bank and in hand

 

15,463

46,941

 

22,176

49,728

Creditors: Amounts falling due within one year

8

(567,970)

(524,694)

Net current liabilities

 

(545,794)

(474,966)

Total assets less current liabilities

 

94,022

165,865

Provisions for liabilities

(644)

(507)

Net assets

 

93,378

165,358

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

93,278

165,258

Total equity

 

93,378

165,358

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 and the option not to file the Profit and Loss Account has been taken.

 

DTG Properties Limited

(Registration number: 10296605)
Balance Sheet as at 31 July 2024

Approved and authorised by the director on 11 November 2024
 

.........................................
Mr D T G Davies
Director

   
     
 

DTG Properties Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
16 Axis Court
Mallard Way
Riverside Buisness Park
Swansea
SA7 0AJ

These financial statements were authorised for issue by the director on 11 November 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

DTG Properties Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and Machinery

25% Reducing Balance

Fixture and Fittings

20% Reducing Balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

 

DTG Properties Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

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.

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 the director) during the year, was 1 (2023 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,013

919

 

DTG Properties Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 August 2023

-

1,761

20,000

21,761

At 31 July 2024

-

1,761

20,000

21,761

Depreciation

At 1 August 2023

-

29

17,330

17,359

Charge for the year

-

347

668

1,015

At 31 July 2024

-

376

17,998

18,374

Carrying amount

At 31 July 2024

-

1,385

2,002

3,387

At 31 July 2023

636,429

1,732

2,670

640,831

Included within the net book value of land and buildings above is £Nil (2023 - £636,429) in respect of freehold land and buildings.
 

6

Investment properties

2024
£

At 1 August

636,429

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

7

Debtors

2024
£

2023
£

Prepayments

3,016

2,787

Other debtors

3,697

-

6,713

2,787

 

DTG Properties Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

1,867

-

Other related parties

 

564,813

523,750

Other creditors

 

1,290

944

 

567,970

524,694

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

100 ordinary shares of £1 each

100

100

100

100

         

10

Related party transactions

Transactions with directors

2024

At 1 August 2023
£

Repayments by director
£

At 31 July 2024
£

Mr D T G Davies

Mr D T G Davies

(523,750)

(41,063)

(564,813)

       
     

 

2023

At 1 August 2022
£

Repayments by director
£

At 31 July 2023
£

Mr D T G Davies

Mr D T G Davies

(223,750)

(300,000)

(523,750)