Silverfin false 31/12/2022 01/01/2022 31/12/2022 L. Reuben 10/12/1999 M. J. Reuben 13 October 2023 The principal activity of the company in the year under review was that of development and sale of properties and property investment. 03892473 2022-12-31 03892473 bus:Director1 2022-12-31 03892473 2021-12-31 03892473 core:CurrentFinancialInstruments 2022-12-31 03892473 core:CurrentFinancialInstruments 2021-12-31 03892473 core:Non-currentFinancialInstruments 2022-12-31 03892473 core:Non-currentFinancialInstruments 2021-12-31 03892473 core:ShareCapital 2022-12-31 03892473 core:ShareCapital 2021-12-31 03892473 core:RetainedEarningsAccumulatedLosses 2022-12-31 03892473 core:RetainedEarningsAccumulatedLosses 2021-12-31 03892473 core:Vehicles 2021-12-31 03892473 core:FurnitureFittings 2021-12-31 03892473 core:Vehicles 2022-12-31 03892473 core:FurnitureFittings 2022-12-31 03892473 core:CostValuation 2021-12-31 03892473 core:AdditionsToInvestments 2022-12-31 03892473 core:CostValuation 2022-12-31 03892473 core:ProvisionsForImpairmentInvestments 2021-12-31 03892473 core:ProvisionsForImpairmentInvestments 2022-12-31 03892473 2020-12-31 03892473 bus:OrdinaryShareClass1 2022-12-31 03892473 2022-01-01 2022-12-31 03892473 bus:FullAccounts 2022-01-01 2022-12-31 03892473 bus:SmallEntities 2022-01-01 2022-12-31 03892473 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 03892473 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 03892473 bus:Director1 2022-01-01 2022-12-31 03892473 bus:Director2 2022-01-01 2022-12-31 03892473 core:Vehicles core:TopRangeValue 2022-01-01 2022-12-31 03892473 core:FurnitureFittings core:TopRangeValue 2022-01-01 2022-12-31 03892473 2021-01-01 2021-12-31 03892473 core:Vehicles 2022-01-01 2022-12-31 03892473 core:FurnitureFittings 2022-01-01 2022-12-31 03892473 core:Non-currentFinancialInstruments 2022-01-01 2022-12-31 03892473 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 03892473 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03892473 (England and Wales)

DOBELL PROPERTY LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2022
Pages for filing with the registrar

DOBELL PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2022

Contents

DOBELL PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2022
DOBELL PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 111,874 103,699
Investment property 4 1,474,908 634,623
Investments 5 125,000 0
1,711,782 738,322
Current assets
Debtors
- due within one year 6 9,223,761 9,247,281
- due after more than one year 6 400,000 215,000
Cash at bank and in hand 7 4,146,741 512,025
13,770,502 9,974,306
Creditors: amounts falling due within one year 8 ( 12,442,030) ( 8,401,566)
Net current assets 1,328,472 1,572,740
Total assets less current liabilities 3,040,254 2,311,062
Creditors: amounts falling due after more than one year 9 ( 105,624) ( 69,341)
Provision for liabilities 10, 11 ( 1,597) ( 16,790)
Net assets 2,933,033 2,224,931
Capital and reserves
Called-up share capital 12 4 4
Profit and loss account 2,933,029 2,224,927
Total shareholder's funds 2,933,033 2,224,931

For the financial year ending 31 December 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Dobell Property Limited (registered number: 03892473) were approved and authorised for issue by the Director. They were signed on its behalf by:

L. Reuben
Director

13 October 2023

DOBELL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2022
DOBELL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dobell Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 5 years straight line
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 3

3. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 January 2022 122,953 16,343 139,296
Additions 128,064 0 128,064
Disposals ( 100,643) 0 ( 100,643)
At 31 December 2022 150,374 16,343 166,717
Accumulated depreciation
At 01 January 2022 25,791 9,806 35,597
Charge for the financial year 36,106 3,269 39,375
Disposals ( 20,129) 0 ( 20,129)
At 31 December 2022 41,768 13,075 54,843
Net book value
At 31 December 2022 108,606 3,268 111,874
At 31 December 2021 97,162 6,537 103,699

4. Investment property

Investment property
£
Valuation
As at 01 January 2022 634,623
Additions 840,285
As at 31 December 2022 1,474,908

5. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 January 2022 0 0
Additions 125,000 125,000
At 31 December 2022 125,000 125,000
Provisions for impairment
At 01 January 2022 0 0
At 31 December 2022 0 0
Carrying value at 31 December 2022 125,000 125,000
Carrying value at 31 December 2021 0 0

6. Debtors

2022 2021
£ £
Debtors: amounts falling due within one year
Trade debtors 0 9,248
Other debtors 9,223,761 9,238,033
9,223,761 9,247,281
Debtors: amounts falling due after more than one year
Other debtors 400,000 215,000

7. Cash and cash equivalents

2022 2021
£ £
Cash at bank and in hand 4,146,741 512,025

8. Creditors: amounts falling due within one year

2022 2021
£ £
Bank loans 10,000 43,470
Trade creditors 18,867 0
Taxation and social security 183,991 92,677
Other creditors 12,229,172 8,265,419
12,442,030 8,401,566

9. Creditors: amounts falling due after more than one year

2022 2021
£ £
Bank loans 24,167 0
Obligations under finance leases and hire purchase contracts 81,457 69,341
105,624 69,341

There are no amounts included above in respect of which any security has been given by the small entity.

10. Provision for liabilities

2022 2021
£ £
Deferred tax 1,597 16,790

11. Deferred tax

2022 2021
£ £
At the beginning of financial year ( 16,790) ( 2,775)
Credited/(charged) to the Statement of Income and Retained Earnings 15,193 ( 14,015)
At the end of financial year ( 1,597) ( 16,790)

12. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
4 Ordinary shares of £ 1.00 each 4 4

13. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2022 2021
£ £
Other debtors 400,000 215,000

Included within other debtors are the above balances owed from companies with a participating interest. The balance is secured accruing interest and payable more than one year.

Transactions with the entity's directors

2022 2021
£ £
Other creditors 5,235,720 2,400,755

Included within other creditors are the above balances owed to the directors and close family members of the directors. The balance is secured and interest-free with no fixed repayment terms.