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REGISTERED NUMBER: 04133912 (England and Wales)















Financial Statements for the Year Ended 28 February 2023

for

DORMEL LIMITED

DORMEL LIMITED (REGISTERED NUMBER: 04133912)






Contents of the Financial Statements
for the year ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DORMEL LIMITED

Company Information
for the year ended 28 February 2023







DIRECTORS: R M Armstrong
Mrs D Armstrong





SECRETARY: R M Armstrong





REGISTERED OFFICE: 12 Low Coniscliffe
DARLINGTON
Co. Durham
DL2 2JY





REGISTERED NUMBER: 04133912 (England and Wales)





ACCOUNTANTS: King Hope
Chartered Accountants
31-33 Victoria Road
Darlington
Co. Durham
DL1 5SB

DORMEL LIMITED (REGISTERED NUMBER: 04133912)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,244 1,384
Investment property 5 525,000 525,000
526,244 526,384

CURRENT ASSETS
Debtors 6 330 337
Cash at bank 13,758 7,240
14,088 7,577
CREDITORS
Amounts falling due within one year 7 350,084 364,851
NET CURRENT LIABILITIES (335,996 ) (357,274 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

190,248

169,110

CAPITAL AND RESERVES
Called up share capital 10 10
Fair value reserve 8 41,066 41,066
Retained earnings 149,172 128,034
SHAREHOLDERS' FUNDS 190,248 169,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by:



R M Armstrong - Director


DORMEL LIMITED (REGISTERED NUMBER: 04133912)

Notes to the Financial Statements
for the year ended 28 February 2023

1. STATUTORY INFORMATION

Dormel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance

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.

The unrealised profit less any related deferred tax is shown separately as a non-distributable fair value reserve.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Rents receivable
Rents receivable are credited to the profit and loss account as they accrue.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

DORMEL LIMITED (REGISTERED NUMBER: 04133912)

Notes to the Financial Statements - continued
for the year ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2022
and 28 February 2023 4,467
DEPRECIATION
At 1 March 2022 3,083
Charge for year 140
At 28 February 2023 3,223
NET BOOK VALUE
At 28 February 2023 1,244
At 28 February 2022 1,384

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 525,000
NET BOOK VALUE
At 28 February 2023 525,000
At 28 February 2022 525,000

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2023 525,000

If Investment Properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 483,934 483,934

The investment properties have been valued on an open market basis by the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income 330 337

DORMEL LIMITED (REGISTERED NUMBER: 04133912)

Notes to the Financial Statements - continued
for the year ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 4,992 5,372
Directors' current accounts 342,032 355,142
Accruals and deferred income 3,060 4,337
350,084 364,851

8. RESERVES
Fair
value
reserve
£   
At 1 March 2022
and 28 February 2023 41,066

9. RELATED PARTY DISCLOSURES

At 28 February 2023, £342,032 (2022: £355,142) was due to Mr R M & Mrs D Armstrong.