ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

DM PROPERTY GROUP LTD - Company Information

Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-312024-05-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-09-01falseNo description of principal activity22falsetrue 12168080 2022-09-01 2023-08-31 12168080 2021-09-01 2022-08-31 12168080 2023-08-31 12168080 2022-08-31 12168080 c:Director2 2022-09-01 2023-08-31 12168080 d:Buildings 2022-09-01 2023-08-31 12168080 d:Buildings 2023-08-31 12168080 d:Buildings 2022-08-31 12168080 d:CurrentFinancialInstruments 2023-08-31 12168080 d:CurrentFinancialInstruments 2022-08-31 12168080 d:Non-currentFinancialInstruments 2023-08-31 12168080 d:Non-currentFinancialInstruments 2022-08-31 12168080 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12168080 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 12168080 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 12168080 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 12168080 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 12168080 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 12168080 d:ShareCapital 2023-08-31 12168080 d:ShareCapital 2022-08-31 12168080 d:RetainedEarningsAccumulatedLosses 2023-08-31 12168080 d:RetainedEarningsAccumulatedLosses 2022-08-31 12168080 c:FRS102 2022-09-01 2023-08-31 12168080 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 12168080 c:FullAccounts 2022-09-01 2023-08-31 12168080 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12168080 2 2022-09-01 2023-08-31 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 2023

DM PROPERTY GROUP LIMITED

REGISTERED NUMBER: 12168080

BALANCE SHEET

AS AT 31 AUGUST 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	4		58,607		58,607
			58,607		58,607
Current assets
Debtors: amounts falling due within one year	5	152,518		287,668
Cash at bank and in hand	6	212		1,855
		152,730		289,523
Creditors: amounts falling due within one year	7	(262,423)		(407,813)
Net current liabilities			(109,693)		(118,290)
Total assets less current liabilities			(51,086)		(59,683)
Creditors: amounts falling due after more than one year	8		(89,266)		(30,326)

Net liabilities			(140,352)		(90,009)

Capital and reserves
Called up share capital	2	2
Profit and loss account	(140,354)	(90,011)
	(140,352)	(90,009)

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DM PROPERTY GROUP LIMITED

REGISTERED NUMBER: 12168080

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2023

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 30 May 2024.

David George Taylor

Director

The notes on pages 3 to 6 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 2023

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 that 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.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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DM PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

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.

Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

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DM PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

4.	Tangible fixed assets

		Freehold property
		£
	Cost or valuation
	At 1 September 2022	58,607
	At 31 August 2023	58,607

	Net book value
	At 31 August 2023	58,607
	At 31 August 2022	58,607

Debtors

					2023	2022
					£	£


Other debtors	147,347	282,497
Prepayments and accrued income	5,171	5,171
	152,518	287,668

6.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	212	1,855
	212	1,855

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DM PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

7.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	2,199	-
Other creditors	258,649	404,213
Accruals and deferred income	1,575	3,600
	262,423	407,813

8.	Creditors: Amounts falling due after more than one year
		2023	2022
		£	£

Bank loans	89,266	30,326
	89,266	30,326


Amounts falling due 1-2 years
Bank loans	89,266	30,325
	89,266	30,325


	89,266	30,325

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