D P Investments Limited - Period Ending 2014-05-31

Registration number: 03990364

D P Investments Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2014
 

D P Investments Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
D P Investments Limited
for the Year Ended 31 May 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of D P Investments Limited for the year ended 31 May 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of D P Investments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of D P Investments Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D P Investments Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that D P Investments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of D P Investments Limited. You consider that D P Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of D P Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Morgan Cameron Limited
Chartered Accountants
9 Thorney Leys Park
Witney
Oxfordshire
OX28 4GE

27 February 2015

Page 1

D P Investments Limited
(Registration number: 03990364)
Abbreviated Balance Sheet at 31 May 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			1,506,957			1,193,926
Current assets
Stocks					1,891,865			1,611,027
Debtors					41,172			14,704
Cash at bank and in hand					2,063			9,752
					1,935,100			1,635,483
Creditors: Amounts falling due within one year					(1,615,715)			(1,308,441)
Net current assets					319,385			327,042
Total assets less current liabilities					1,826,342			1,520,968
Creditors: Amounts falling due after more than one year					(703,402)			(703,402)
Net assets					1,122,940			817,566
Capital and reserves
Called up share capital		4			1			1
Revaluation reserve					806,555			491,555
Profit and loss account					316,384			326,010
Shareholders' funds					1,122,940			817,566

For the year ending 31 May 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 27 February 2015

......................................... D M Bradley Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

D P Investments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable for the period in respect of property rents, property sales and services provided to customers, net of VAT.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% on reducing balance

Investment properties

Investment properties are included in the balance sheet at their market value.

Stock

Stock is valued at the lower of cost and net realisable value, which is based on anticipated selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2013		1,233,425			1,233,425
Revaluations		315,000			315,000
Additions		2,462			2,462
Disposals		(8,091)			(8,091)
At 31 May 2014		1,542,796			1,542,796
Depreciation
At 1 June 2013		39,499			39,499
Charge for the year		1,991			1,991
Eliminated on disposals		(5,651)			(5,651)
At 31 May 2014		35,839			35,839
Net book value
At 31 May 2014		1,506,957			1,506,957
At 31 May 2013		1,193,926			1,193,926

Page 3

D P Investments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		76,101			76,101
Amounts falling due after more than one year		703,402			703,402
Total secured creditors		779,503			779,503

Included in the creditors are the following amounts due after more than five years:

		2014 £			2013 £
After more than five years not by instalments		703,402			703,402

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

5	Related party transactions

Director's advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
D M Bradley
Interest-free loan	-	-	-	497,674

Page 4