ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

DM PROPERTY GROUP LTD - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-08-312021-08-312022-05-312020-09-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12168080 2020-09-01 2021-08-31 12168080 2019-08-21 2020-08-31 12168080 2021-08-31 12168080 2020-08-31 12168080 c:Director2 2020-09-01 2021-08-31 12168080 d:Buildings 2020-09-01 2021-08-31 12168080 d:Buildings 2021-08-31 12168080 d:Buildings 2020-08-31 12168080 d:LandBuildings 2021-08-31 12168080 d:LandBuildings 2020-08-31 12168080 d:CurrentFinancialInstruments 2021-08-31 12168080 d:CurrentFinancialInstruments 2020-08-31 12168080 d:Non-currentFinancialInstruments 2021-08-31 12168080 d:Non-currentFinancialInstruments 2020-08-31 12168080 d:CurrentFinancialInstruments d:WithinOneYear 2021-08-31 12168080 d:CurrentFinancialInstruments d:WithinOneYear 2020-08-31 12168080 d:Non-currentFinancialInstruments d:AfterOneYear 2021-08-31 12168080 d:Non-currentFinancialInstruments d:AfterOneYear 2020-08-31 12168080 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-08-31 12168080 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-08-31 12168080 d:ShareCapital 2021-08-31 12168080 d:ShareCapital 2020-08-31 12168080 d:RetainedEarningsAccumulatedLosses 2021-08-31 12168080 d:RetainedEarningsAccumulatedLosses 2020-08-31 12168080 c:FRS102 2020-09-01 2021-08-31 12168080 c:AuditExempt-NoAccountantsReport 2020-09-01 2021-08-31 12168080 c:FullAccounts 2020-09-01 2021-08-31 12168080 c:PrivateLimitedCompanyLtd 2020-09-01 2021-08-31 iso4217:GBP xbrli:pure

Registered number: 12168080

DM PROPERTY GROUP LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2021

DM PROPERTY GROUP LIMITED

REGISTERED NUMBER: 12168080

BALANCE SHEET

AS AT 31 AUGUST 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets			58,607		58,607
			58,607		58,607
Current assets
Debtors: amounts falling due within one year	5	78,920		5,171
Cash at bank and in hand		63,520		17,464
		142,440		22,635
Creditors: amounts falling due within one year		(216,252)		(51,696)
Net current liabilities			(73,812)		(29,061)
Total assets less current liabilities			(15,205)		29,546
Creditors: amounts falling due after more than one year			(35,000)		(35,000)

Net liabilities			(50,205)		(5,454)

Capital and reserves
Called up share capital	2	2
Profit and loss account	(50,207)	(5,456)
	(50,205)	(5,454)

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DM PROPERTY GROUP LIMITED

REGISTERED NUMBER: 12168080

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2021

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 the 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 income and retained earnings 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 on 31 May 2022.

David George Taylor

Director

The notes on pages 3 to 7 form part of these financial statements.

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DM PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

1.	General information

DM Property Group Limited is a private company limited by shares, registered in the United Kingdom number 12168080. Its registered office is 46 West View, Wesham, Preston, Lancashire, PR4 3DA. The principal activity of the business is tat of manageing property.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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DM PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

2.Accounting policies (continued)

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss 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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

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.

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.

Depreciation is provided on the following basis:

Freehold property

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 profit or loss.

2.6

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.

2.7

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.

2.8

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.

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DM PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

4.	Tangible fixed assets

		Freehold property
		£
	Cost or valuation
	At 1 September 2020	58,607
	At 31 August 2021	58,607

	Net book value
	At 31 August 2021	58,607
	At 31 August 2020	58,607

The net book value of land and buildings may be further analysed as follows:
	2021	2020
	£	£

Freehold	58,607	58,607
	58,607	58,607

Debtors

					2021	2020
					£	£


Other debtors	73,749	-
Prepayments and accrued income	5,171	5,171
	78,920	5,171

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DM PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

6.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	63,520	17,464
	63,520	17,464

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Bank loans	152,056	-
Other creditors	62,396	49,896
Accruals and deferred income	1,800	1,800
	216,252	51,696

8.	Creditors: Amounts falling due after more than one year
		2021	2020
		£	£

Bank loans	35,000	35,000
	35,000	35,000

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DM PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

Amounts falling due within one year
Bank loans	152,056	-
	152,056	-
Amounts falling due 1-2 years
Bank loans	35,000	35,000
	35,000	35,000


	187,056	35,000

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