Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-05-01falsefalse76true 10732884 2023-05-01 2024-04-30 10732884 2022-05-01 2023-04-30 10732884 2024-04-30 10732884 2023-04-30 10732884 c:Director2 2023-05-01 2024-04-30 10732884 d:Buildings 2023-05-01 2024-04-30 10732884 d:Buildings 2024-04-30 10732884 d:Buildings 2023-04-30 10732884 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10732884 d:Buildings d:LongLeaseholdAssets 2023-05-01 2024-04-30 10732884 d:PlantMachinery 2023-05-01 2024-04-30 10732884 d:PlantMachinery 2024-04-30 10732884 d:PlantMachinery 2023-04-30 10732884 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10732884 d:MotorVehicles 2023-05-01 2024-04-30 10732884 d:MotorVehicles 2024-04-30 10732884 d:MotorVehicles 2023-04-30 10732884 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10732884 d:OfficeEquipment 2023-05-01 2024-04-30 10732884 d:OfficeEquipment 2024-04-30 10732884 d:OfficeEquipment 2023-04-30 10732884 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10732884 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10732884 d:CurrentFinancialInstruments 2024-04-30 10732884 d:CurrentFinancialInstruments 2023-04-30 10732884 d:Non-currentFinancialInstruments 2024-04-30 10732884 d:Non-currentFinancialInstruments 2023-04-30 10732884 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10732884 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10732884 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 10732884 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 10732884 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 10732884 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 10732884 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 10732884 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 10732884 d:ShareCapital 2024-04-30 10732884 d:ShareCapital 2023-04-30 10732884 d:RetainedEarningsAccumulatedLosses 2024-04-30 10732884 d:RetainedEarningsAccumulatedLosses 2023-04-30 10732884 c:OrdinaryShareClass1 2023-05-01 2024-04-30 10732884 c:OrdinaryShareClass1 2024-04-30 10732884 c:OrdinaryShareClass1 2023-04-30 10732884 c:FRS102 2023-05-01 2024-04-30 10732884 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10732884 c:FullAccounts 2023-05-01 2024-04-30 10732884 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10732884 2 2023-05-01 2024-04-30 10732884 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10732884










DMG Developments Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 April 2024

 
DMG Developments Ltd
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of DMG Developments Ltd for the year ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DMG Developments Ltd for the year ended 30 April 2024 which comprise the Balance sheet 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 https://www.icaew.com /regulation.

This report is made solely to the Board of directors of DMG Developments Ltd, as a body, in accordance with the terms of our engagement letter dated 31 May 2023Our work has been undertaken solely to prepare for your approval the financial statements of DMG Developments Ltd  and state those matters that we have agreed to state to the Board of directors of DMG Developments Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DMG Developments Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that DMG Developments Ltd 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 profit of DMG Developments Ltd. You consider that DMG Developments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of DMG Developments Ltd. 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.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Canterbury
30 January 2025
Page 1

 
DMG Developments Ltd
Registered number: 10732884

Balance sheet
As at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
284,272
307,389

Investments
  
-
168,000

  
284,272
475,389

Current assets
  

Debtors: amounts falling due within one year
 6 
32,854
180,789

Cash at bank and in hand
  
1,063,689
441,416

  
1,096,543
622,205

Creditors: amounts falling due within one year
 7 
(439,775)
(318,460)

Net current assets
  
 
 
656,768
 
 
303,745

Total assets less current liabilities
  
941,040
779,134

Creditors: amounts falling due after more than one year
 8 
(73,088)
(94,864)

  

Net assets
  
867,952
684,270


Capital and reserves
  

Called up share capital 
 10 
3
3

Profit and loss account
  
867,949
684,267

  
867,952
684,270


Page 2

 
DMG Developments Ltd
Registered number: 10732884

Balance sheet (continued)
As at 30 April 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 January 2025.

Mr D V Golding
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
DMG Developments Ltd
 

 
Notes to the financial statements
For the year ended 30 April 2024

1.


General information

DMG Developments Ltd is a private company limited by shares which was incorporated in England and Wales. The company's registered office is Unit 150 Maple Leaf Business Park, Ramsgate, Kent, CT12 5GY.
The financial statements are presented in pound sterling and rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

 
DMG Developments Ltd
 

 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Not Depreciated
Long-term leasehold property
-
Not Depreciated
Plant and machinery
-
15%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Office equipment
-
15%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
DMG Developments Ltd
 

 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 6).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
211,627
939
121,017
5,910
339,493


Additions
-
-
-
355
355



At 30 April 2024

211,627
939
121,017
6,265
339,848



Depreciation


At 1 May 2023
-
141
30,254
1,709
32,104


Charge for the year on owned assets
-
120
22,691
661
23,472



At 30 April 2024

-
261
52,945
2,370
55,576



Net book value



At 30 April 2024
211,627
678
68,072
3,895
284,272

Page 6

 
DMG Developments Ltd
 

 
Notes to the financial statements
For the year ended 30 April 2024

5.


Fixed asset investments





Other fixed asset investments

£





At 1 May 2023
168,000


Disposals
(168,000)



At 30 April 2024
-





6.


Debtors

2024
2023
£
£


Trade debtors
29,764
177,699

Other debtors
3,090
3,090

32,854
180,789



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Company Credit Card
2,226
6,887

Bank loans
10,098
10,000

Trade creditors
226,505
68,782

Other taxation and social security
91,833
129,036

Obligations under finance lease and hire purchase contracts
11,973
11,462

Other creditors
91,805
88,993

Accruals and deferred income
5,335
3,300

439,775
318,460



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
16,569
26,667

Net obligations under finance leases and hire purchase contracts
56,519
68,197

73,088
94,864


Page 7

 
DMG Developments Ltd
 

 
Notes to the financial statements
For the year ended 30 April 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,098
10,000


10,098
10,000

Amounts falling due 1-2 years

Bank loans
16,569
20,000


16,569
20,000

Amounts falling due 2-5 years

Bank loans
-
6,667


-
6,667


26,667
36,667


Page 8

 
DMG Developments Ltd
 

 
Notes to the financial statements
For the year ended 30 April 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3 (2023 - 3) Ordinary shares of £1.00 each
3
3



11.


Controlling party

The directors consider there to be no ultimate conrolling party.

Page 9