Registration number:
Dock Tower Limited
for the Year Ended 31 March 2023
Dock Tower Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Dock Tower Limited
Company Information
Director |
A J Butt |
Company secretary |
H C Remnant |
Registered office |
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Solicitors |
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Bankers |
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Dock Tower Limited
(Registration number: 03710158)
Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investment property |
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Investments |
235,093 |
151,794 |
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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 assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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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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Share premium reserve |
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Fair value reserve - listed investments |
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Profit and loss account |
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Total equity |
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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:
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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
Dock Tower Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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:
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 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
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.
Staff numbers |
The average number of persons employed by the Company (including the Director) during the year, was
Dock Tower Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Investment properties |
2023 |
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At 1 April |
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Fair value adjustments |
( |
At 31 March |
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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.
Investments |
Listed investments at fair value through profit and loss |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2022 |
151,794 |
Fair value adjustments |
(43,721) |
Additions |
127,020 |
At 31 March 2023 |
235,093 |
Impairment |
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Carrying amount |
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At 31 March 2023 |
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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.
Debtors |
Current |
2023 |
2022 |
Trade debtors |
- |
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Prepayments |
- |
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Other debtors |
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Dock Tower Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Taxation and social security |
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Corporation tax |
3,014 |
8,708 |
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Other creditors |
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- |
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Accruals and deferred income |
16,003 |
14,340 |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Other borrowings |
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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.