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Registration number: 09933244

DGP Energy Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

DGP Energy Ltd

Company Information

Directors

Mr Javed Iqbal

Mr Syed Mohsin Raza Gillani

Registered office

Delta House, 7G Dukes Yard
Shakespeare Industrial Estate
Acme Road
Watford
WD24 5AL

Accountants

Mehta & Tengra
Chartered Accountants
9 Berners Place
London
W1T 3AD

 

DGP Energy Ltd

(Registration number: 09933244)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

14,615

22,966

Tangible assets

6

409,896

603

 

424,511

23,569

Current assets

 

Debtors

7

2,946,899

2,379,401

Cash at bank and in hand

 

1,662,359

315,544

 

4,609,258

2,694,945

Creditors: Amounts falling due within one year

8

(4,403,674)

(2,714,796)

Net current assets/(liabilities)

 

205,584

(19,851)

Total assets less current liabilities

 

630,095

3,718

Creditors: Amounts falling due after more than one year

8

(14,608)

(25,331)

Provisions for liabilities

(11,278)

(151)

Net assets/(liabilities)

 

604,209

(21,764)

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

604,208

(21,765)

Shareholders' funds/(deficit)

 

604,209

(21,764)

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

Directors' 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 directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

DGP Energy Ltd

(Registration number: 09933244)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 28 April 2025 and signed on its behalf by:
 

.........................................
Mr Javed Iqbal
Director

 

DGP Energy Ltd

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

1

(21,765)

(21,764)

Profit for the year

-

625,973

625,973

At 31 March 2024

1

604,208

604,209

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

1

(184,674)

(184,673)

Profit for the year

-

162,909

162,909

At 31 March 2023

1

(21,765)

(21,764)

 

DGP Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Delta House, 7G Dukes Yard
Shakespeare Industrial Estate
Acme Road
Watford
WD24 5AL
United Kingdom

These financial statements were authorised for issue by the Board on 28 April 2025.

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.

 

DGP Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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

Office Equipments

20% on reducing balance

Fixture & Fittings

20% on reducing balance

Motor Vehicle

25% on reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patent and Licences

over 9 years

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.

 

DGP Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade 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.

Trade 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

DGP Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 12).

4

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

219,711

9,771

UK corporation tax adjustment to prior periods

(2,478)

-

217,233

9,771

Deferred taxation

Arising from origination and reversal of timing differences

11,126

151

Tax expense in the income statement

228,359

9,922

Deferred tax

 

DGP Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 April 2023

75,160

75,160

At 31 March 2024

75,160

75,160

Amortisation

At 1 April 2023

52,194

52,194

Amortisation charge

8,351

8,351

At 31 March 2024

60,545

60,545

Carrying amount

At 31 March 2024

14,615

14,615

At 31 March 2023

22,966

22,966

6

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

-

290

2,278

-

2,568

Additions

365,239

-

-

58,899

424,138

At 31 March 2024

365,239

290

2,278

58,899

426,706

Depreciation

At 1 April 2023

-

179

1,786

-

1,965

Charge for the year

-

22

98

14,725

14,845

At 31 March 2024

-

201

1,884

14,725

16,810

Carrying amount

At 31 March 2024

365,239

89

394

44,174

409,896

At 31 March 2023

-

111

492

-

603

Included within the net book value of land and buildings above is £365,239 (2023 - £Nil) in respect of freehold land and buildings.
 

 

DGP Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

618,957

655,658

Amounts owed by related parties

11

426,595

15,945

Prepayments

 

-

78,166

Other debtors

 

3,555

-

Staff loans

 

40,000

40,000

Collateral deposit

 

1,196,971

1,027,592

Accrued income

 

660,821

562,040

   

2,946,899

2,379,401

 

DGP Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

37,307

10,844

Trade creditors

 

1,724,700

819,018

Taxation and social security

 

1,249,824

1,056,692

Accruals

 

410,661

15,400

Other creditors

 

638,683

731,660

Owed from group undertakings

 

114,705

71,411

Corporation tax

 

227,794

9,771

 

4,403,674

2,714,796

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

14,608

25,331

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

14,608

25,331

Current loans and borrowings

 

DGP Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2024
£

2023
£

Bank borrowings

10,783

10,844

Hire purchase contracts

26,524

-

37,307

10,844

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

72,000

70,000

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

15,945

15,945

Advanced

410,650

410,650

At end of period

426,595

426,595

2023

Other related parties
£

Total
£

At start of period

2,850

2,850

Advanced

13,095

13,095

At end of period

15,945

15,945

Terms of loans to related parties

Due on demand

Loans from related parties

2024

Parent
£

Total
£

At start of period

(71,451)

(71,451)

Advanced

1,987,684

1,987,684

Repaid

(2,030,978)

(2,030,978)

At end of period

(114,745)

(114,745)

 

DGP Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2023

Parent
£

Total
£

At start of period

(610,799)

(610,799)

Repaid

539,348

539,348

At end of period

(71,451)

(71,451)

Terms of loans from related parties

Due on demand
 

12

Parent and ultimate parent undertaking

The company's immediate parent is Mohsin and Javed Limited, incorporated in United Kingdom.