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REGISTERED NUMBER: 13776282 (England and Wales)















Financial Statements for the Period 1 April 2024 to 30 September 2024

for

Dagenham New Homes Limited

Dagenham New Homes Limited (Registered number: 13776282)






Contents of the Financial Statements
for the Period 1 April 2024 to 30 September 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Dagenham New Homes Limited

Company Information
for the Period 1 April 2024 to 30 September 2024







DIRECTOR: Mr M Cox





REGISTERED OFFICE: 19 Queen Elizabeth Street
London
SE1 2LP





REGISTERED NUMBER: 13776282 (England and Wales)





ACCOUNTANTS: Gibsons Financial Limited
Chartered Accountants
Foresters Hall
25/27 Westow Street
Upper Norwood
London
SE19 3RY

Dagenham New Homes Limited (Registered number: 13776282)

Abridged Balance Sheet
30 September 2024

30/9/24 31/3/24
Notes £ £
CURRENT ASSETS
Stocks 263,048 783,797
Debtors 2,314,198 3,818,324
Cash at bank and in hand 1,907,303 10,122
4,484,549 4,612,243
CREDITORS
Amounts falling due within one year (5,807,985 ) (5,384,624 )
NET CURRENT LIABILITIES (1,323,436 ) (772,381 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,323,436

)

(772,381

)

PROVISIONS FOR LIABILITIES 4 (197,203 ) -
NET LIABILITIES (1,520,639 ) (772,381 )

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings 6 (1,520,739 ) (772,481 )
SHAREHOLDERS' FUNDS (1,520,639 ) (772,381 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Dagenham New Homes Limited (Registered number: 13776282)

Abridged Balance Sheet - continued
30 September 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 June 2025 and were signed by:





Miss V A Cox - Director


Dagenham New Homes Limited (Registered number: 13776282)

Notes to the Financial Statements
for the Period 1 April 2024 to 30 September 2024

1. STATUTORY INFORMATION

Dagenham New Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has fulfilled the purpose for which it was incorporated, that is to redevelop the property at Transport House, 56-58 New Road, Dagenham Essex RM0 6YS into residential units as main contractor for London Borough of Barking and Dagenham.

The company has reported a net loss of £748,258 for the period. This is attributable to higher than anticipated costs. At the Balance Sheet date the sum of the company's liabilities exceeded the sum of its assets by £1.52m.

As at the date of approval of these financial statements the company owed £3.1m to its main contractor in relation to the project. The director is hopeful that agreement can be reached, allowing the company to pay a reduced sum in full and final settlement of the amounts owed. If agreement cannot be reached the director may have no realistic alternative than to place the company into a creditors voluntary liquidation.

The circumstances described above constitute a material uncertainty that casts significant doubt about the company's ability to continue as a going concern for at least twelve months from the date of approval of these financial statements.

In the director's opinion there is no difference between the amounts stated in the financial statements if prepared on a going concern basis, and those had the financial statements been prepared on a cessation basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Dagenham New Homes Limited (Registered number: 13776282)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 30 September 2024

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The preparation of these financial statements requires the directors to note judgements and estimates that affect the reported amount of assets and liabilities at the balance sheet date and the reported profits for the financial year.

(i) Contract income and profit - the valuation of percentage completion of contracts involves an estimation of the costs to complete and remaining revenues which may differ from the actual costs incurred and total revenues received on completion. Judgement is required to assess whether the total eventual profit on each contract can be foreseen with reasonable certainty.

Estimates and judgements are continually evaluated and are based on a number of factors including historical experience and expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Revenue is recognised to the extent that it is probable that economic benefits will flow to the company and the revenue can be measured reliably.

Turnover relates to contract income; proceeds from the sale of properties and; related activities during the period. Contract Turnover is calculated by reference to the value of work performed to date as a proportion of the total contract value. This is usually based on independent professional surveys of work performed. Provision is made for the full amount of foreseeable losses on contracts. Turnover in respect of the sale of properties is recognised at the fair value of the consideration received or receivable on legal completion.

Stocks
Long term contract balances are stated at net cost less foreseeable losses less any applicable payments on account. Foreseeable losses in excess of net cost are disclosed separately as provisions for liabilities and charges.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like loans from banks and other third parties.

Debt instruments which are payable or receivable within one year are measured at the undiscounted amount of cash consideration expected to be paid or received.

Debt instruments which are payable or receivable after more than one year are initially measured at the fair value of the cash consideration and thereafter at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2024 - NIL).

4. PROVISIONS FOR LIABILITIES
30/9/24 31/3/24
£ £
Other provisions 197,203 -

Dagenham New Homes Limited (Registered number: 13776282)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 30 September 2024

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/9/24 31/3/24
value: £ £
100 Ordinary £1 100 100

Attached to the shares are a right to vote in general meetings, a right to receive dividends if declared by the company and a right to participate in distributions of capital, including on winding up.The shares do not confer any right of redemption.

6. RESERVES
Retained
earnings
£

At 1 April 2024 (772,481 )
Deficit for the period (748,258 )
At 30 September 2024 (1,520,739 )

7. RELATED PARTY DISCLOSURES

Cost of Sales for the period includes transactions of £9.54m with a corporate entity controlled by the company's Director. At the Balance Sheet date £5.78m was owed to that entity by the company for those services.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is DVA Holdings Limited, incorporated in England.