Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 3 |
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2,300,000 | 2,300,000 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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20,725 | 44,565 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (186,959) | (161,483) | ||
Total assets less current liabilities | 2,113,041 | 2,138,517 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Fair value reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of D & M (Holdings) Limited (registered number:
Mr M A Kaushal
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
D & M (Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 8 Carlton Road South, Weymouth, DT4 7PJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
The fair value is determined annually by the directors, on an open market value for existing use basis.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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The company is run and administered by one of the directors of the company for whom no formal contract of service is in place.
Investment property | |
£ | |
Valuation | |
As at 01 April 2023 |
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As at 31 March 2024 |
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Valuation
The investment properties class of fixed assets were reviewed on 31 march 2024 by one of the directors who is internal to the company. The basis of value was open market value.
The class of assets has a current value of £2,300,000 (2023 - £2,300,000) and a carrying amount at historical cost of £574,281 (2023 - £574,281). The depreciation on this historical cost is £nil (2023 - £nil)
There has been no valuation of investment property by an independent valuer.
2024 | 2023 | ||
£ | £ | ||
Corporation tax |
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2024 | 2023 | ||
£ | £ | ||
Amounts owed to connected companies |
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Other creditors |
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Transactions with the entity's directors
During the year one of the Directors maintained an interest-free loan account, which is repayable on demand. At the balance sheet date, the amount due to the Director was £39,686 (2023 - £56,630).