D M Estates Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01043790

D M Estates Limited

Filleted Unaudited Financial Statements

31 December 2024

D M Estates Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

D M Estates Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	8,177,379	6,405,634

Current assets

Debtors	6	251,184	358,646
Cash at bank and in hand		1,113,549	2,309,004
		------------	------------
		1,364,733	2,667,650

Creditors: amounts falling due within one year	7	3,301,624	2,444,686
		------------	------------
Net current (liabilities)/assets		( 1,936,891)	222,964
		------------	------------
Total assets less current liabilities		6,240,488	6,628,598

Provisions

Taxation including deferred tax	1,315,549	940,549
	------------	------------
Net assets	4,924,939	5,688,049
	------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	4,924,839	5,687,949
	------------	------------
Shareholders funds	4,924,939	5,688,049
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

D M Estates Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

M Robinson

Director

Company registration number: 01043790

D M Estates Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is West Barton, Little Silver, Cadeleigh, Tiverton, Devon, EX 16 8HJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: The Investment Properties are measured at fair value using a methodology approved by the Registered Institute of Chartered Surveyors. This includes an assessment rent yields, open market value of rents receivable and site specific factors. The carrying amount of the investment property is shown in note 6 to the Financial Statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & machinery	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Number of employees

The average number of persons employed by the company was 2 (2023: 2).

5. Tangible assets

	Investment Properties	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost or valuation
At 1 January 2024	6,400,000	12,373	33,100	6,445,473
Additions	177,991	95,162	–	273,153
Revaluations	1,500,000	–	–	1,500,000
	------------	---------	--------	------------
At 31 December 2024	8,077,991	107,535	33,100	8,218,626
	------------	---------	--------	------------
Depreciation
At 1 January 2024	–	12,199	27,640	39,839
Charge for the year	–	43	1,365	1,408
	------------	---------	--------	------------
At 31 December 2024	–	12,242	29,005	41,247
	------------	---------	--------	------------
Carrying amount
At 31 December 2024	8,077,991	95,293	4,095	8,177,379
	------------	---------	--------	------------
At 31 December 2023	6,400,000	174	5,460	6,405,634
	------------	---------	--------	------------

The investment properties were revalued on a fair value basis by the directors. One of the directors, Mr P Morris is a member of the Royal Institute of Chartered Surveyors (RICS). The historical cost of these properties was £1,415,741. The valuation is based on market yields, rent receivable and site specific factors. A deferred tax liability arising from the revaluation of the investment properties of £1,315,549 has been recognised in these financial statements.

6. Debtors

	2024	2023
	£	£
Trade debtors	72,986	61,157
Other debtors	178,198	297,489
	---------	---------
	251,184	358,646
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	72,896	132,528
Amounts owed to related parties	3,139,565	2,257,224
Other creditors	89,163	54,934
	------------	------------
	3,301,624	2,444,686
	------------	------------

8. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2024	2023	2024	2023
	£	£	£	£
Regency Properties (Tadworth) Limited	–	–	79,754	79,754
Beaver Estates (Ashford) Investments Ltd	( 285,105)	( 277,215)	( 495,498)	( 210,393)
Sovereign Counties Limited	( 1,072)	( 112,136)	( 76,812)	( 75,740)
Cadeleigh Estates Ltd	( 595,863)	( 1,136,328)	( 2,446,059)	( 1,850,196)
Warbleoak	–	–	( 90,825)	( 90,825)
Woodgavil Estates Ltd	( 300)	( 404,357)	( 30,080)	( 29,780)
Woodgavil Properties Ltd	–	–	( 290)	( 290)
	---------	------------	------------	------------

The company director Mr P E Morris is a shareholder and director of each of the above companies.