REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
DFM GROUP LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
DFM GROUP LIMITED |
DFM GROUP LIMITED (REGISTERED NUMBER: 10926815) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 3 |
DFM GROUP LIMITED (REGISTERED NUMBER: 10926815) |
STATEMENT OF FINANCIAL POSITION |
31 MAY 2024 |
31/5/24 | 31/5/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
DFM GROUP LIMITED (REGISTERED NUMBER: 10926815) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MAY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
DFM GROUP LIMITED (REGISTERED NUMBER: 10926815) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
DFM Group Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The company directors have assessed the financial impact of the current pandemic on the company. With the ongoing financial support of the directors, as well as the continuation of operations, it is considered that the company has sufficient resources to continue as a going concern. |
The financial statements have, therefore been prepared on a going concern basis |
Turnover |
Turnover represents rental income received during the period in respect of the freehold property, rented to Duffryn Ffrwd Manor Limited for use as a care home. |
Tangible fixed assets |
Land and buildings | - |
Freehold Property |
The directors acknowledge the need to assess appropriate depreciation policies based upon historical cost less residual value. The freehold property will be maintained to a high standard throughout the value in use period. The directors do not consider that the residual value of the freehold property will reduce below its historical cost value. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
DFM GROUP LIMITED (REGISTERED NUMBER: 10926815) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | PROPERTY, PLANT AND EQUIPMENT |
Land and |
buildings |
£ |
COST |
At 1 June 2023 |
and 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 June 2023 |
and 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/5/24 | 31/5/23 |
£ | £ |
Other debtors |
DFM GROUP LIMITED (REGISTERED NUMBER: 10926815) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/5/24 | 31/5/23 |
£ | £ |
Bank loans and overdrafts |
Tax |
Directors' current accounts | 255,084 | 242,148 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/5/24 | 31/5/23 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Amounts owed to group undertakings |
Directors' loan accounts | 982,500 | 997,500 |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 20,297 | 136,433 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31/5/24 | 31/5/23 |
£ | £ |
Bank loans |
A legal charge was created on 4th October 2017 securing monies owed to NatWest Bank PLC. The charge contains fixed and floating charges. Floating charges covers all the property or undertaking of the company. |
The freehold land and buildings have been charged by way of legal mortgage to NatWest Bank PLC. The legal mortgage was created on 21st November 2017. |
DFM GROUP LIMITED (REGISTERED NUMBER: 10926815) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/05/24 | 31/05/23 |
value: | £ | £ |
24 | Ordinary A Shares | £0.1 | 2.40 | 2.40 |
40 | Ordinary C Shares | £0.1 | 4.00 | 4.00 |
24 | Ordinary D Shares | £0.1 | 2.40 | 2.40 |
40 | Ordinary E Shares | £0.1 | 4.00 | 4.00 |
40 | Ordinary F Shares | £0.1 | 4.00 | 4.00 |
40 | Ordinary G Shares | £0.1 | 4.00 | 4.00 |
40 | Ordinary H Shares | £0.1 | 4.00 | 4.00 |
40 | Ordinary I Shares | £0.1 | 4.00 | 4.00 |
16 | Ordinary J Shares | £0.1 | 1.60 | 1.60 |
16 | Ordinary K Shares | £0.1 | 1.60 | 1.60 |
32 | 32 |