D P Investments Limited - Period Ending 2016-06-30

Registration number: 03990364

D P Investments Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

D P Investments Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

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 5) 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 30 June 2016

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 30 June 2016 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

22 March 2017

Page 1

D P Investments Limited
(Registration number: 03990364)
Abbreviated Balance Sheet at 30 June 2016

		Note			30 June 2016 £			30 June 2015 £
Fixed assets
Tangible fixed assets		2			1,607,890			1,508,398
Investments					10			10
					1,607,900			1,508,408
Current assets
Stocks					4,222,921			3,774,222
Debtors					42,195			70,250
Cash at bank and in hand					57,601			109,498
					4,322,717			3,953,970
Creditors: Amounts falling due within one year					(3,861,049)			(3,304,926)
Net current assets					461,668			649,044
Total assets less current liabilities					2,069,568			2,157,452
Creditors: Amounts falling due after more than one year					(965,977)			(703,402)
Net assets					1,103,591			1,454,050
Capital and reserves
Called up share capital		4			1			1
Revaluation reserve					906,555			806,555
Profit and loss account					197,035			647,494
Shareholders' funds					1,103,591			1,454,050

For the year ending 30 June 2016 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 22 March 2017

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

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

D P Investments Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... 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 January 2015).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

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.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock and work in progress

Stock and work in progress 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 related finance costs.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 3

D P Investments Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 July 2015		1,546,189			10			1,546,199
Revaluations		100,000			-			100,000
Additions		1,923			-			1,923
At 30 June 2016		1,648,112			10			1,648,122
Depreciation
At 1 July 2015		37,791			-			37,791
Charge for the year		2,431			-			2,431
At 30 June 2016		40,222			-			40,222
Net book value
At 30 June 2016		1,607,890			10			1,607,900
At 30 June 2015		1,508,398			10			1,508,408

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
New Mill Homes (Luckley Fields) Limited (formerly DP Investments (Chestnut) Limited)	England	Ordinary	100%	Dormant

Page 4

D P Investments Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

3

Creditors

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

		30 June 2016 £			30 June 2015 £
Amounts falling due within one year		2,668,125			2,501,221
Amounts falling due after more than one year		965,977			703,402
Total secured creditors		3,634,102			3,204,623

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

		30 June 2016 £			30 June 2015 £
After more than five years not by instalments		965,977			703,402

4	Share capital

Allotted, called up and fully paid shares

	30 June 2016						30 June 2015
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

5	Related party transactions

Director's advances and credits

	Year ended 30 June 2016 Advance/ Credit £	Year ended 30 June 2016 Repaid £	1 June 2014 to 30 June 2015 Advance/ Credit £	1 June 2014 to 30 June 2015 Repaid £
D M Bradley
Funds held short-term on behalf of the company	-	21,540	21,540	-

Page 5