Registration number: 06103973

Doorknobs Limited

Statement of Financial Position as at 30 June 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	6,064	8,100
Current assets
Debtors	5	90,911	97,545
Cash at bank and in hand		253,613	234,206
		344,524	331,751
Creditors: Amounts falling due within one year	6	(102,058)	(90,936)
Net current assets		242,466	240,815
Total assets less current liabilities		248,530	248,915
Creditors: Amounts falling due after more than one year	6	(23,204)	(32,500)
Provisions for liabilities		(1,293)	(1,753)
Net assets		224,033	214,662
Capital and reserves
Called up share capital		100	100
Retained earnings		223,933	214,562
Shareholders' funds		224,033	214,662

For the financial year ending 30 June 2023 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Statement of Income and Retained Earnings has been taken.

Doorknobs Limited

Statement of Financial Position as at 30 June 2023

Approved and authorised by the Board on 3 October 2023 and signed on its behalf by:
 

......................................... Mrs K Chamberlain Director

......................................... Mrs K S Thrower Director

Company registration number: 06103973

Doorknobs Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

The principal activity of the company is that of an estate agency offering properties for let and for sale.

2	Accounting policies

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 any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

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.

Going concern

The company made a profit for the year ended 30 June 2022 and had net assets at that date of £224,033 including cash at bank amounting to £253,613.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Turnover in respect of properties sold is recognised on the date of exchange of contract and in respect of properties let is recognised when contracts are legally binding on both parties.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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.

Doorknobs Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

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, 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
Furniture, fittings and equipment	25% straight line

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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.

Doorknobs Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

3	Staff numbers

The average number of persons employed by the company during the year, was 9 (2022 - 9).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 July 2022	53,294	53,294
Additions	1,624	1,624
Disposals	(999)	(999)
At 30 June 2023	53,919	53,919
Depreciation
At 1 July 2022	45,194	45,194
Charge for the year	3,660	3,660
Eliminated on disposal	(999)	(999)
At 30 June 2023	47,855	47,855
Carrying amount
At 30 June 2023	6,064	6,064
At 30 June 2022	8,100	8,100

Doorknobs Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

5

Debtors

	2023 £	2022 £
Other debtors	90,911	97,545
	90,911	97,545