Registration number:
DM2 Property Group Limited
for the Year Ended 31 December 2016
Chartered Accountants
Southolme
Trinity Street
Gainsborough
Lincolnshire
DN21 2EQ
DM2 Property Group Limited
Contents
Company Information |
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Accountants' Report |
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Abridged Balance Sheet |
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Notes to the Abridged Financial Statements |
DM2 Property Group Limited
Company Information
Directors |
Mr A D Black Mr K Pacey Mr A G Kingston |
Registered office |
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Accountants |
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Page 1 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
DM2 Property Group Limited
for the Year Ended 31 December 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DM2 Property Group Limited for the year ended 31 December 2016 as set out on pages 3 to 7 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
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of DM2 Property Group Limited, as a body, in accordance with the terms of our engagement letter dated 15 January 2005. Our work has been undertaken solely to prepare for your approval the accounts of DM2 Property Group Limited and state those matters that we have agreed to state to the Board of Directors of DM2 Property Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DM2 Property Group Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that DM2 Property Group 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 profit of DM2 Property Group Limited. You consider that DM2 Property Group 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 DM2 Property Group 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.
............................................................................
Chartered Accountants
Trinity Street
Gainsborough
Lincolnshire
DN21 2EQ
Page 2 |
DM2 Property Group Limited
(Registration number: 04514103)
Abridged Balance Sheet as at 31 December 2016
Note |
2016 |
2015 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the Board on
.........................................
Mr A D Black
Director
Page 3 |
DM2 Property Group Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2016
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
33% straight line basis |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Page 4 |
DM2 Property Group Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2016
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Page 5 |
DM2 Property Group Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2016
Tangible assets |
Total |
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Cost or valuation |
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At 1 January 2016 |
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At 31 December 2016 |
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Depreciation |
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At 1 January 2016 |
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At 31 December 2016 |
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Carrying amount |
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At 31 December 2016 |
- |
Investments |
Total |
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Cost or valuation |
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At 1 January 2016 |
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Provision |
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Carrying amount |
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At 31 December 2016 |
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At 31 December 2015 |
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Page 6 |
DM2 Property Group Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2016
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2016 |
2015 |
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Subsidiary undertakings |
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8 The Point
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Ordinary shares |
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England and Wales |
The principal activity of Design and Materials Limited is |
The profit for the financial period of Design and Materials Limited was £19,783 and the aggregate amount of capital and reserves at the end of the period was £301,887. |
Dividends |
2016 |
2015 |
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£ |
£ |
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Interim dividend of £
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50,000 |
- |
Related party transactions |
Summary of transactions with subsidiaries
100% subsidiary
Transition to FRS 102 |
Page 7 |