Dock Tower Limited 03710158 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is investment in freehold properties and listed investments Digita Accounts Production Advanced 6.30.9574.0 true 03710158 2022-04-01 2023-03-31 03710158 2023-03-31 03710158 core:OtherReservesSubtotal 2023-03-31 03710158 core:RetainedEarningsAccumulatedLosses 2023-03-31 03710158 core:ShareCapital 2023-03-31 03710158 core:SharePremium 2023-03-31 03710158 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-03-31 03710158 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03710158 core:Non-currentFinancialInstruments 2023-03-31 03710158 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 03710158 bus:SmallEntities 2022-04-01 2023-03-31 03710158 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 03710158 bus:FullAccounts 2022-04-01 2023-03-31 03710158 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 03710158 bus:RegisteredOffice 2022-04-01 2023-03-31 03710158 bus:CompanySecretary1 2022-04-01 2023-03-31 03710158 bus:Director2 2022-04-01 2023-03-31 03710158 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03710158 bus:Agent1 2022-04-01 2023-03-31 03710158 countries:England 2022-04-01 2023-03-31 03710158 2022-03-31 03710158 2021-04-01 2022-03-31 03710158 2022-03-31 03710158 core:OtherReservesSubtotal 2022-03-31 03710158 core:RetainedEarningsAccumulatedLosses 2022-03-31 03710158 core:ShareCapital 2022-03-31 03710158 core:SharePremium 2022-03-31 03710158 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 03710158 core:Non-currentFinancialInstruments 2022-03-31 03710158 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 03710158

Dock Tower Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Dock Tower Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Dock Tower Limited

Company Information

Director

A J Butt

Company secretary

H C Remnant

Registered office

26 South St. Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW

Solicitors

Roythorne & Co
10 Pinchbeck Road
Spalding
Lincolnshire
PE11 1PZ

Bankers

Santander
Bridle Road
Bootle
Merseyside
L30 4GB

 

Dock Tower Limited

(Registration number: 03710158)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

430,000

450,000

Investments

235,093

151,794

 

665,093

601,794

Current assets

 

Debtors

6

125

14,166

Cash at bank and in hand

 

143,081

263,467

 

143,206

277,633

Creditors: Amounts falling due within one year

7

(23,157)

(25,577)

Net current assets

 

120,049

252,056

Total assets less current liabilities

 

785,142

853,850

Creditors: Amounts falling due after more than one year

7

(161,448)

(161,448)

Net assets

 

623,694

692,402

Capital and reserves

 

Called up share capital

1,050

1,050

Share premium reserve

100,560

100,560

Fair value reserve - listed investments

(46,223)

(2,502)

Profit and loss account

568,307

593,294

Total equity

 

623,694

692,402

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 Director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 November 2023

.........................................

A J Butt
Director

 

Dock Tower Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital incorporated in England and the company registration number is 03710158.

The address of its registered office is:
26 South St. Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW

These financial statements were authorised for issue by the director on 13 November 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements cover the individual entity, have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Tax

The tax expense for the period comprises current 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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax on revalued investment properties is measured using the rates and allowances at the reporting date.

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.

 

Dock Tower Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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 profit and loss account 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.

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.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2022 - 1).

 

Dock Tower Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Investment properties

2023
£

At 1 April

450,000

Fair value adjustments

(20,000)

At 31 March

430,000

The investment properties have been valued on an open market basis by the director.
The change in fair values has resulted in a debit of £20,000 (2022: debit of £50,000) to the profit and loss account.

5

Investments

Listed investments at fair value through profit and loss
£

Non-current financial assets

Cost or valuation

At 1 April 2022

151,794

Fair value adjustments

(43,721)

Additions

127,020

At 31 March 2023

235,093

Impairment

Carrying amount

At 31 March 2023

235,093

The fair value of the listed investments has been determined by using the market value provided by the stockbroker at the year end.

The change in fair value has resulted in a debit of £43,721 (2022: a credit of £10,247) to the profit and loss account.

6

Debtors

Current

2023
£

2022
£

Trade debtors

-

1,574

Prepayments

-

12,430

Other debtors

125

162

 

125

14,166

 

Dock Tower Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Taxation and social security

 

3,067

2,529

Corporation tax

 

3,014

8,708

Other creditors

 

1,073

-

Accruals and deferred income

 

16,003

14,340

 

23,157

25,577

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

161,448

161,448

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

161,448

161,448

Other borrowings
Other loans which have been given security by the company include £nil (2022: £nil) due within one year and £161,448 (2022: £161,448) due after more than one year.