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Registration number: NI032340

Dapok Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Dapok Limited

(Registration number: NI032340)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

6,595,515

6,578,687

Current assets

 

Debtors

5

108,989

107,029

Cash at bank and in hand

 

110,101

90,496

 

219,090

197,525

Creditors: Amounts falling due within one year

6

(2,263,667)

(2,393,737)

Net current liabilities

 

(2,044,577)

(2,196,212)

Total assets less current liabilities

 

4,550,938

4,382,475

Provisions for liabilities

(39,959)

(38,759)

Net assets

 

4,510,979

4,343,716

Capital and reserves

 

Called up share capital

7

100

100

Revaluation reserve

2,516,608

2,516,608

Profit and loss account

1,994,271

1,827,008

Shareholders' funds

 

4,510,979

4,343,716

 

Dapok Limited

(Registration number: NI032340)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

Approved and authorised by the Board on 26 May 2022 and signed on its behalf by:
 

.........................................
Mr Christopher Brooke
Company secretary and director

.........................................
Mr Gary Henry
Director

 
     
 

Dapok Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
51-53 Thomas Street
Ballymena
Co Antrim
BT43 6AZ
Northern Ireland

These financial statements were authorised for issue by the Board on 26 May 2022.

2

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost or valuation, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost or valuation of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Dapok Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets (other than land and properties under construction ) less their residual value over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Property,plant and equipment

nil

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2020 - 5).

 

Dapok Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Property, plant
& Equipment
£

Total
£

Cost or valuation

At 1 January 2021

6,578,687

6,578,687

Additions

16,828

16,828

At 31 December 2021

6,595,515

6,595,515

Depreciation

Carrying amount

At 31 December 2021

6,595,515

6,595,515

At 31 December 2020

6,578,687

6,578,687

Included within the net book value of property, plant & equipment above is £6,595,515 (2020 - £6,578,687) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Property, plant & equipment was revalued on 31 December 2018 by an independent valuer. . The name and qualification of the independent valuer are Colin McDowell Bsc (Hons) FRICS.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £4,078,907 (2020 - £4,062,079).

5

Debtors

2021
£

2020
£

Trade debtors

99,781

74,255

Prepayments

9,208

2,674

Other debtors

-

30,100

108,989

107,029

 

Dapok Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

6

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Trade creditors

 

63,650

35,941

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

1,601,909

1,688,528

Taxation and social security

 

30,443

59,069

Accruals and deferred income

 

2,807

32,251

Other creditors

 

564,858

577,948

 

2,263,667

2,393,737

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Dapok Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

8

Related party transactions

Summary of transactions with other related parties

Directors
 At the balance sheet date the amount owed to Directors and their related parties was £542,231 (2020 £542,231).These amounts are included in creditors
 

9

Parent and ultimate parent undertaking

The company's immediate parent is Galgorm Castle Holdings Limited, incorporated in Northern Ireland.