DPM Estate Limited - Period Ending 2016-03-31

Registration number: 02730689

DPM Estate Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

DPM Estate Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

DPM Estate Limited
(Registration number: 02730689)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					10,485,553			10,324,946
Investments					-			24,000
		2			10,485,553			10,348,946
Current assets
Debtors		3			2,907,557			1,588,751
Investments					97,391			111,450
Cash at bank and in hand					763,009			1,192,200
					3,767,957			2,892,401
Creditors: Amounts falling due within one year					(208,277)			(56,728)
Net current assets					3,559,680			2,835,673
Total assets less current liabilities					14,045,233			13,184,619
Provisions for liabilities					(9,684)			(7,930)
Net assets					14,035,549			13,176,689
Capital and reserves
Called up share capital		4			706,159			706,159
Share premium account					6,331,585			6,331,585
Revaluation reserve					2,204,969			2,054,206
Profit and loss account					4,792,836			4,084,739
Shareholders' funds					14,035,549			13,176,689

Page 1

DPM Estate Limited
(Registration number: 02730689)
Abbreviated Balance Sheet at 31 March 2016

For the year ending 31 March 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 directors acknowledge their 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 Board on 23 August 2016 and signed on its behalf by:

Mrs K Jones Director

Mr M Jones Director

Page 2

DPM Estate Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2016

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).

Turnover

Turnover represents amounts received from the rental of property and is recognised in the period to which they relate.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

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
Office equipment	25% of written down value

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: (i) No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. (ii) No depreciation is provided in respect of leasehold investment properties where the lease has over 20 years to run. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Page 3

DPM Estate Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2016

Fixed asset investments

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

Current asset investments

Current asset investments are included at the lower of cost and net realisable value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2	Fixed assets

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 April 2015		2			10,328,128			24,000			10,352,130
Revaluations		-			150,763			-			150,763
Additions		-			9,845			-			9,845
Disposals		-			-			(24,000)			(24,000)
At 31 March 2016		2			10,488,736			-			10,488,738
Depreciation
At 1 April 2015		2			3,182			-			3,184
Charge for the year		-			1			-			1
At 31 March 2016		2			3,183			-			3,185
Net book value
At 31 March 2016		-			10,485,553			-			10,485,553
At 31 March 2015		-			10,324,946			24,000			10,348,946

Page 4

DPM Estate Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2016

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
Significant holdings
Heavenly Bump Maternitywear Limited		12 Ordinary B shares	100%	retail sale of clothing in specialised stores

3

Debtors

Debtors includes £357,898 (2015 - £420,668) receivable after more than one year.

 

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
A Ordinary shares of £1 each		526,159			526,159			526,159			526,159
C Ordinary shares of £1 each		180,000			180,000			180,000			180,000
		706,159			706,159			706,159			706,159

Page 5