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Registered number: 8503527
DMRG Limited
Unaudited Financial Statements
For The Year Ended 31 August 2023
Smith Hannah Limited
Chartered Certified Accountants
50 Woodgate
Leicester
LE3 5GF
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 8503527
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 379,624 384,531
Investments 5 1,000,001 1,000,001
1,379,625 1,384,532
CURRENT ASSETS
Debtors 6 529,643 474,991
Cash at bank and in hand 81,666 159,036
611,309 634,027
Creditors: Amounts Falling Due Within One Year 7 (227,409 ) (224,130 )
NET CURRENT ASSETS (LIABILITIES) 383,900 409,897
TOTAL ASSETS LESS CURRENT LIABILITIES 1,763,525 1,794,429
Creditors: Amounts Falling Due After More Than One Year 8 (1,058,592 ) (1,131,105 )
NET ASSETS 704,933 663,324
CAPITAL AND RESERVES
Called up share capital 60 60
Revaluation reserve 155,069 155,069
Profit and Loss Account 549,804 508,195
SHAREHOLDERS' FUNDS 704,933 663,324
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Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Zaheer Esat
Director
15th January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
DMRG Limited is a private company, limited by shares, incorporated in England & Wales, registered number 8503527 . The registered office is 50 Woodgate, Leicester, LE3 5GF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
2.4. Investment Properties
Investment properties are not depreciated.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.5. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Investment Properties Plant & Machinery Total
£ £ £
Cost
As at 1 September 2022 360,000 100,000 460,000
As at 31 August 2023 360,000 100,000 460,000
Depreciation
As at 1 September 2022 - 75,469 75,469
Provided during the period - 4,907 4,907
As at 31 August 2023 - 80,376 80,376
Net Book Value
As at 31 August 2023 360,000 19,624 379,624
As at 1 September 2022 360,000 24,531 384,531
5. Investments
Unlisted
£
Cost
As at 1 September 2022 1,000,001
As at 31 August 2023 1,000,001
Provision
As at 1 September 2022 -
As at 31 August 2023 -
Net Book Value
As at 31 August 2023 1,000,001
As at 1 September 2022 1,000,001
Investment comprise of 99.98% of the issued share capital of Elsie Tenure Limited, a company registered in Great Britain.
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6. Debtors
2023 2022
£ £
Due within one year
Other debtors 120,962 247,080
Corporation tax recoverable assets 38,955 38,955
Amounts owed by subsidiaries 268,666 87,896
428,583 373,931
Due after more than one year
Other debtors 101,060 101,060
101,060 101,060
529,643 474,991
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 84,680 97,528
Corporation tax 128,327 115,723
Other creditors 14,402 10,879
227,409 224,130
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 1,058,592 1,131,105
1,058,592 1,131,105
9. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 1,143,272 1,228,633
10. Ultimate Controlling Party
The company's ultimate controlling party is Zaheer Esat by virtue of his ownership of 100% of the issued share capital in the company.
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