Dartmoor Trading Limited 10407291 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is trading in financial instruments and the letting of holiday cottages Digita Accounts Production Advanced 6.30.9574.0 true true 10407291 2022-04-01 2023-03-31 10407291 2023-03-31 10407291 core:Non-currentFinancialInstruments 2023-03-31 10407291 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10407291 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 10407291 core:FurnitureFittingsToolsEquipment 2023-03-31 10407291 core:OtherPropertyPlantEquipment 2023-03-31 10407291 bus:SmallEntities 2022-04-01 2023-03-31 10407291 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10407291 bus:FullAccounts 2022-04-01 2023-03-31 10407291 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 10407291 bus:RegisteredOffice 2022-04-01 2023-03-31 10407291 bus:Director1 2022-04-01 2023-03-31 10407291 bus:Director2 2022-04-01 2023-03-31 10407291 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10407291 core:ComputerSoftware 2022-04-01 2023-03-31 10407291 core:ComputerEquipment 2022-04-01 2023-03-31 10407291 core:FurnitureFittings 2022-04-01 2023-03-31 10407291 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 10407291 core:OfficeEquipment 2022-04-01 2023-03-31 10407291 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 10407291 countries:EnglandWales 2022-04-01 2023-03-31 10407291 2022-03-31 10407291 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-31 10407291 core:FurnitureFittingsToolsEquipment 2022-03-31 10407291 core:OtherPropertyPlantEquipment 2022-03-31 10407291 2021-04-01 2022-03-31 10407291 2022-03-31 10407291 core:Non-currentFinancialInstruments 2022-03-31 10407291 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 10407291 core:FurnitureFittingsToolsEquipment 2022-03-31 10407291 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 10407291

Dartmoor Trading Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Dartmoor Trading Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Dartmoor Trading Limited

Company Information

Directors

Andrew Barnes

Suzanne Lucy Barnes

Registered office

Homestead
Ilkerton
Barbrook
Lynton
Devon
EX35 6PH

Accountants

ReesRussell LLP
Chartered Accountants
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

Dartmoor Trading Limited

(Registration number: 10407291)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

9,491

14,817

Current assets

 

Cash at bank and in hand

 

298,311

350,164

Total assets less current liabilities

 

307,802

364,981

Creditors: Amounts falling due after more than one year

6

(4,914,604)

(4,848,862)

Net liabilities

 

(4,606,802)

(4,483,881)

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(4,607,802)

(4,484,881)

Shareholders' deficit

 

(4,606,802)

(4,483,881)

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.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 November 2023 and signed on its behalf by:
 

.........................................
Andrew Barnes
Director

 

Dartmoor Trading 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 Wales.

The address of its registered office is:
Homestead
Ilkerton
Barbrook
Lynton
Devon
EX35 6PH

These financial statements were authorised for issue by the Board on 15 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.

Going concern

The financial statements have been prepared on a going concern basis even though the balance sheet shows negative net worth as the directors have pledged their continuing support to the business.

Revenue recognition

Revenue recognition is based upon realised gains on daily market activity being shown as turnover whereas realised losses on daily market activity are shown as a cost of sale.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

Dartmoor Trading Limited

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

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

Computer equipment

50% straight line

Office equipment

33% straight line

Furniture & fittings

20% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trading system platform

20% 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 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Dartmoor Trading Limited

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

4

Intangible assets

Trading platform
 £

Cost or valuation

At 1 April 2022

4,057,275

At 31 March 2023

4,057,275

Amortisation

At 1 April 2022

4,057,275

At 31 March 2023

4,057,275

Carrying amount

At 31 March 2023

-

5

Tangible assets

Furniture, fittings and equipment
 £

Computer equipment
£

Total
£

Cost or valuation

At 1 April 2022

25,807

7,582

33,389

Additions

-

324

324

At 31 March 2023

25,807

7,906

33,713

Depreciation

At 1 April 2022

11,806

6,766

18,572

Charge for the year

4,672

978

5,650

At 31 March 2023

16,478

7,744

24,222

Carrying amount

At 31 March 2023

9,329

162

9,491

At 31 March 2022

14,001

816

14,817

 

Dartmoor Trading Limited

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

6

Creditors

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

4,914,604

4,848,862

 

Dartmoor Trading Limited

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

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

4,914,604

4,848,862

Nature of borrowing

2023
£

Repayable on notice

33,629

Repayable within five years

823,700

Non interest bearing

4,057,275

4,914,604

Terms

Repayable on notice
Loans repayable on notice attract interest at 15% above bank base rate unless RPI becomes more than 4% above bank base rate at which point interest is charged at 15% above RPI. Loans are subject to one year's notice and are unsecured

Repayable witihin five years
Loans repayable within five years have a maturity date of 19 February 2027. Interest is charged at 14% above bank base rate unless RPI becomes more than 4% above bank base rate at which point interest is charged at 14% above RPI. Loans are unsecured.

Non-interest bearing loan
The non-interest bearing loan is repayable on demand. The loan is unsecured.