DPK Real Estate Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 5 Seaforth Place, London, SW1E 6AB.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of persons (including directors) employed by the company during the year was:
Details of the company's subsidiaries at 30 November 2024 are as follows:
DPK Autostrada Ltd, a subsidiary, voted dividends to DPK Real Estate Services ltd of £9,089,454 (2023 nil). At the year end an amount was owed by that company of £923,568 (2023 £56,180).
DPK Artillery Investments S.A.R.L., a subsidiary, received various amounts during the year. Loans were written off in the year of £249,226 (2023 £157,099). At the year end a net amount of £23,886 (2023 £114,348) was owed by this company.
Maxwell Investments 1 LLP, an entity in which the Director is a designated member, at the year end owed the company £1,712 (2023 £1,712).
Maxwell Investments 2 LLP, an entity in which the Director is a designated member, at the year end owed the company £990 (2023 £990).
DPK Property Investments Ltd, a subsidiary, received various amounts during the year. A provision against loans was made in the year of £20,750 (2023 nil). At the year end an amount was owed by that company of nil (2023 £11,750).
DPK Roydon Marina Village Ltd, a subsidiary, received no additional amounts during the year. At the year end an amount was owed by that company of nil (2023 £24,110).
DPK Roydon Management Ltd, a subsidiary, received various amounts during the year. At the year end an amount was owed by that company of £1,315,267 (2023 £1,313,467).
DPK France Ltd, a subsidiary, received various amounts during the year. A provision against loans was made in the year of £238 (2023 nil). At the year end an amount was owed by the company of nil (2023 £119).
DPK Seaforth Place Ltd, a subsidiary received various amounts during the year. At the year end and amount was owed by that company of £1,034 (2023 £620).
SARL Fonciere Vauclusienne FOVA, a subsidiary, received various amounts during the year. At the year end an amount was owed by that company of £85,290 (2023 nil). Interest was charged on these advances of £3,078 (2023 £6,681).
Solent Land Ltd, a subsidiary, received various amounts during the year. At the year end an amount was owed by that company of £206,284 (2023 £201,284).
RAD Custom Winery Ltd, a subsidiary, received various amounts during the year. At the year end an amount was owed by that company of £314,925 (2023 nil).
AAIM Lagonda Purchaser Ltd, a subsidiary, received no further amounts during the year. At the year end an amount was owed by that company of nil (2023 £105).
NAMT Holdco Ltd, a company with a mutual Director. During the year a provision of £743,533 (2023 nil) was made against the outstanding balance, at the year end an amount was owed by that company of nil (2023 £739,332).
Credit4 Ltd, a company with a mutual Director owed an amount at the year end totalling £2,226,345 (2023 £2,080,335). Included in the balance was interest due for the year of £146,197 (2023 £135,317).
DPK Management Ltd, a company with a mutual Director, received additional amounts during the year. At the year end an amount was owed by that company of £665,716 (2023 £346,714).
Newrad Holding Ltd, a company with a mutual Director, owed DPK Real Estate Services Ltd at the year end an amount of £2,852,361 (2023 £2,850,361).
Transactions occurred with DPK Quay Ltd an investment of AAIM Lagonda Purchaser Ltd, a subsidiary of this company. During the year a provision of £335,971 (2023 nil) was made against the outstanding balance by DPK Real Estate Ltd, at the year end an amount of £37,800 (2023 £373,621) was owed to DPK Real Estate Ltd.
DPK Property Holdings Ltd, a company with a mutual Director, received no additional amounts during the year. At the year end an amount was owed by that company of £6,740 (2023 £6,740).
DPK East Ltd, an investment of DPK Autostrada Ltd, a subsidiary of this company, forwarded additional amounts during the year. At the year end an amount was owed to that company of £566,429 (2023 £6,371,407). Interest was charged on this loan in the year of £50,756 (2023 £200,811).
David Maxwell Racing Ltd, a subsidiary, received various amounts during the year. At the year end an amount was owed to that company of £319,748 (2023 £319,760).
DPK Logistique France Ltd, an indirect subsidiary had no additional movements. A provision was made against the amount due of £556,744 (2023 nil). At the year end an amount of nil (2023 £556,969) was owed to DPK Logistique France.
B-Rad Manco Ltd, a company with a mutual Director, loaned various amounts during the year. At the year end an amount was owed to that company of £956,729 (2023 £4,039.536).
Mr D Maxwell, a Director, received various advances during the year. At the year end an amount was owed by him of £8,042,378 (2023 nil). Interest was charged on advances of £111,901 (2023 £38,448). The loan was repaid after date within nine months of the year end.