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Registration number: 5028802

DMG Property Management Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

DMG Property Management Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

DMG Property Management Limited

Company Information

Directors

Penelope Jane McGill

Andrew Ryder McGill

Company secretary

Penelope Jane McGill

Registered office

Suite 7 Aspect House
Pattenden Lane
Marden
Kent
TN12 9QJ

Accountants

Manningtons
Victoria House The Moor
Hawkhurst
Cranbrook
Kent
TN18 4NR

 

DMG Property Management Limited

(Registration number: 5028802)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

386,659

37,008

Tangible assets

5

3,879

5,328

Investments

6

1,220

-

 

391,758

42,336

Current assets

 

Debtors

7

8,084

100,102

Cash at bank and in hand

 

36,047

179,308

 

44,131

279,410

Creditors: Amounts falling due within one year

8

(113,776)

(69,394)

Net current (liabilities)/assets

 

(69,645)

210,016

Net assets

 

322,113

252,352

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

321,113

251,352

Shareholders' funds

 

322,113

252,352

 

DMG Property Management Limited

(Registration number: 5028802)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 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.

Approved and authorised by the Board on 21 May 2025 and signed on its behalf by:
 

.........................................
Andrew Ryder McGill
Director

 

DMG Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 7 Aspect House
Pattenden Lane
Marden
Kent
TN12 9QJ
England

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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 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 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.

 

DMG Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

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 equipment

25% straight line

Fixtures and fittings

10% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

Intangible assets

10% straight line

 

DMG Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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 at the transaction price, 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 at the transaction price.

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.

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 11 (2024 - 11).

 

DMG Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

92,508

92,508

Additions acquired separately

398,780

398,780

At 31 March 2025

491,288

491,288

Amortisation

At 1 April 2024

55,500

55,500

Amortisation charge

49,129

49,129

At 31 March 2025

104,629

104,629

Carrying amount

At 31 March 2025

386,659

386,659

At 31 March 2024

37,008

37,008

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

20,427

20,427

Additions

1,201

1,201

At 31 March 2025

21,628

21,628

Depreciation

At 1 April 2024

15,098

15,098

Charge for the year

2,651

2,651

At 31 March 2025

17,749

17,749

Carrying amount

At 31 March 2025

3,879

3,879

At 31 March 2024

5,328

5,328

 

DMG Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Investments

2025
£

2024
£

Investments in subsidiaries

1,220

-

Subsidiaries

£

Cost or valuation

Additions

1,220

Provision

Carrying amount

At 31 March 2025

1,220

7

Debtors

Note

2025
£

2024
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

-

92,500

Prepayments

 

8,044

7,602

Director loan account

 

40

-

 

8,084

100,102

8

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

-

3,130

Taxation and social security

109,233

60,103

Accruals and deferred income

660

642

Other creditors

3,883

1,068

Director loan account

-

4,451

113,776

69,394