ACCOUNTS - Final Accounts

DUNMOORE GROUP LIMITED - Company Information

Caseware UK (AP4) 2018.0.196 2018.0.196 2018-12-312018-12-31falsetrueNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2018-01-01 05848070 2018-01-01 2018-12-31 05848070 2017-01-01 2017-12-31 05848070 2018-12-31 05848070 2017-12-31 05848070 c:Director1 2018-01-01 2018-12-31 05848070 d:OfficeEquipment 2018-01-01 2018-12-31 05848070 d:OfficeEquipment 2018-12-31 05848070 d:OfficeEquipment 2017-12-31 05848070 d:OfficeEquipment d:OwnedOrFreeholdAssets 2018-01-01 2018-12-31 05848070 d:CurrentFinancialInstruments 2018-12-31 05848070 d:CurrentFinancialInstruments 2017-12-31 05848070 d:Non-currentFinancialInstruments 2018-12-31 05848070 d:Non-currentFinancialInstruments 2017-12-31 05848070 d:CurrentFinancialInstruments d:WithinOneYear 2018-12-31 05848070 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 05848070 d:ShareCapital 2018-12-31 05848070 d:ShareCapital 2017-12-31 05848070 d:RetainedEarningsAccumulatedLosses 2018-12-31 05848070 d:RetainedEarningsAccumulatedLosses 2017-12-31 05848070 d:AcceleratedTaxDepreciationDeferredTax 2018-12-31 05848070 d:TaxLossesCarry-forwardsDeferredTax 2018-12-31 05848070 d:RetirementBenefitObligationsDeferredTax 2018-12-31 05848070 d:AcceleratedTaxDepreciationDeferredTax 2017-12-31 05848070 d:TaxLossesCarry-forwardsDeferredTax 2017-12-31 05848070 d:RetirementBenefitObligationsDeferredTax 2017-12-31 05848070 c:FRS102 2018-01-01 2018-12-31 05848070 c:AuditExempt-NoAccountantsReport 2018-01-01 2018-12-31 05848070 c:FullAccounts 2018-01-01 2018-12-31 05848070 c:PrivateLimitedCompanyLtd 2018-01-01 2018-12-31 05848070 d:Subsidiary1 2018-01-01 2018-12-31 05848070 d:Subsidiary1 1 2018-01-01 2018-12-31 05848070 d:Subsidiary2 2018-01-01 2018-12-31 05848070 d:Subsidiary2 1 2018-01-01 2018-12-31 05848070 d:Subsidiary3 2018-01-01 2018-12-31 05848070 d:Subsidiary3 1 2018-01-01 2018-12-31 iso4217:GBP xbrli:pure

Registered number: 05848070

DUNMOORE GROUP LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2018

DUNMOORE GROUP LIMITED

REGISTERED NUMBER: 05848070

BALANCE SHEET

AS AT 31 DECEMBER 2018

		2018		2017
Note		£		£

Fixed assets
Tangible assets	4		3,612		33,935
Investments	5		6		7
			3,618		33,942
Current assets
Debtors: amounts falling due within one year	6	22,691,678		10,873,241
Cash at bank and in hand	7	1,382,112		1,177,665
		24,073,790		12,050,906
Creditors: amounts falling due within one year	8	(19,964,545)		(9,474,657)
Net current assets			4,109,245		2,576,249
Total assets less current liabilities			4,112,863		2,610,191
Provisions for liabilities
Deferred tax	9		-		(10,071)
Net assets			4,112,863		2,600,120

Capital and reserves
Called up share capital	101	101
Profit and loss account	4,112,762	2,600,019
	4,112,863	2,600,120

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DUNMOORE GROUP LIMITED

REGISTERED NUMBER: 05848070

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2018

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

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

J R Hobby

Director

Date: 25 September 2019

The notes on pages 3 to 9 form part of these financial statements.

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DUNMOORE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

1.	General information

The company is limited by shares and is incorporated in England and Wales with a registered office at Brightwalton House, Brightwalton, Newbury, RG20 7BZ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

2.5

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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DUNMOORE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

2.Accounting policies (continued)

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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DUNMOORE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

2.Accounting policies (continued)

2.8

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Office equipment

years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.10

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other

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DUNMOORE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

2.Accounting policies (continued)

2.14

Financial instruments (continued)

third parties, loans to related parties and investments in non-puttable ordinary shares.

2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 7 (2017 - 7).

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2018	122,597
	Additions	3,467
	At 31 December 2018	126,064
	Depreciation
	At 1 January 2018	88,663
	Charge for the year on owned assets	33,789
	At 31 December 2018	122,452
	Net book value
	At 31 December 2018	3,612
	At 31 December 2017	33,935

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DUNMOORE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2018	7
	Disposals	(1)
	At 31 December 2018	6

	Net book value
	At 31 December 2018	6
	At 31 December 2017	7

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DUNMOORE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

5.Fixed asset investments (continued)

Direct subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Class of shares	Holding	Principal activity

Dunmoore Limited	Ordinary	75%	Management of real estate
Dunmoore Ventures Limited	A and B Ordinary	100%	Holding company
Brightwalton Bloodstock Limited	Ordinary	100%	Raising of horses and other equines

Indirect Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Class of shares	Holding	Principal activity

Middlegreen Limited	Ordinary	100%	Property development
Dunmoore Properties Limited	Ordinary	75%	Property development
Dunmoore (West London) Limited	Ordinary	100%	Property development
MG Flats LLP	Ordinary	100%	Investment property

Debtors

					2018	2017
					£	£


Trade debtors	319	2,012
Amounts owed by group undertakings	22,643,259	10,823,203
Other debtors	31,821	48,026
Deferred taxation	16,279	-
	22,691,678	10,873,241

7.	Cash and cash equivalents
		2018	2017
		£	£

Cash at bank and in hand	1,382,112	1,177,665
	1,382,112	1,177,665

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DUNMOORE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

8.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Trade creditors	12,264	11,103
Amounts owed to group undertakings	19,393,124	8,951,676
Other taxation and social security	10,785	35,116
Other creditors	543,872	472,262
Accruals and deferred income	4,500	4,500
	19,964,545	9,474,657

9.	Deferred taxation

		2018
		£

	At beginning of year	(10,071)
	Charged to profit or loss	26,350
	At end of year	16,279

The deferred taxation balance is made up as follows:
	2018	2017
	£	£

Accelerated capital allowances	(10,216)	(10,071)
Tax losses carried forward	26,350	-
Short term timing differences	145	-
	16,279	(10,071)

10.	Pension commitments

The pension cost charge represents contributions payable by the company to personal pension plans and amounted to £64,660 (2017 - £8,602). Contributions were payable at the balance sheet date £852 (2017 £Nil).

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