Company registration number 09326245 (England and Wales)
Dutton Commercial Services Limited
Unaudited financial statements
For the Period ended 30 April 2023
DUTTON COMMERCIAL SERVICES LIMITED
Dutton Commercial Services Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
DUTTON COMMERCIAL SERVICES LIMITED
Dutton Commercial Services Limited
Statement of financial position
AS AT 30 APRIL 2023
30 April 2023
- 1 -
30 April 2023
31 October 2021
Notes
£
£
£
£
Fixed assets
Investment property
2
4,618,485
2,797,888
Current assets
Debtors
3
15,871
985
Cash at bank and in hand
91,086
51,024
106,957
52,009
Creditors: amounts falling due within one year
4
(1,750,772)
(1,781,475)
Net current liabilities
(1,643,815)
(1,729,466)
Total assets less current liabilities
2,974,670
1,068,422
Creditors: amounts falling due after more than one year
5
(2,246,542)
(609,671)
Net assets
728,128
458,751
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
728,028
458,651
Total equity
728,128
458,751

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial Period ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

DUTTON COMMERCIAL SERVICES LIMITED
Dutton Commercial Services Limited
Statement of financial position (continued)
AS AT 30 APRIL 2023
30 April 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 8 November 2023
Mr R M Dutton
Director
Company registration number 09326245 (England and Wales)
Dutton Commercial Services Limited
Notes to the financial statements
For the Period ended 30 April 2023
- 3 -
1
Accounting policies
Company information

Dutton Commercial Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Brooks Lane, Middlewich, Cheshire, England, CW10 0JH.

1.1
Reporting period

The comparative amounts reflect a period of 18 months and may not be comparable to the results reported for the current financial year.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Dutton Commercial Services Limited
Notes to the financial statements (continued)
For the Period ended 30 April 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.10

Critical Accounting Judgements and Key Sources of Estimation Uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are set out below:

 

 

Investment property valuation

Dutton Commercial Services Limited
Notes to the financial statements (continued)
For the Period ended 30 April 2023
- 5 -
2
Investment property
2023
£
Fair value
At 1 November 2021
2,797,888
Additions
1,820,597
At 30 April 2023
4,618,485
3
Debtors
2023
2021
Amounts falling due within one year:
£
£
Trade debtors
13,048
-
0
Other debtors
2,823
985
15,871
985
4
Creditors: amounts falling due within one year
2023
2021
£
£
Bank loans
56,167
34,666
Trade creditors
11,267
3,226
Amounts owed to group undertakings
1,553,659
1,350,213
Taxation and social security
65,743
26,168
Other creditors
63,936
367,202
1,750,772
1,781,475
5
Creditors: amounts falling due after more than one year
2023
2021
£
£
Bank loans and overdrafts
2,246,542
609,671

The following secured debts are included within bank loans under and over 1 year:

 

Bank loans 2023 £2,302,708 (2021 - £644,336)

 

The bank loan is secured by a fixed and floating charge against all assets, present and future, of the company.

Dutton Commercial Services Limited
Notes to the financial statements (continued)
For the Period ended 30 April 2023
5
Creditors: amounts falling due after more than one year
(Continued)
- 6 -
Creditors which fall due after five years are as follows:
2023
2021
£
£
Payable by instalments
1,901,006
471,005
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