John Doble Limited 04904001 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is that of retail jewellery Digita Accounts Production Advanced 6.30.9574.0 true true 04904001 2022-03-01 2023-02-28 04904001 2023-02-28 04904001 bus:Director1 1 2023-02-28 04904001 bus:OrdinaryShareClass1 2023-02-28 04904001 bus:OrdinaryShareClass2 2023-02-28 04904001 bus:OrdinaryShareClass3 2023-02-28 04904001 bus:OrdinaryShareClass4 2023-02-28 04904001 core:CurrentFinancialInstruments 2023-02-28 04904001 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 04904001 core:Non-currentFinancialInstruments 2023-02-28 04904001 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 04904001 core:Goodwill 2023-02-28 04904001 core:FurnitureFittingsToolsEquipment 2023-02-28 04904001 core:LandBuildings 2023-02-28 04904001 core:MotorVehicles 2023-02-28 04904001 core:OtherPropertyPlantEquipment 2023-02-28 04904001 bus:SmallEntities 2022-03-01 2023-02-28 04904001 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 04904001 bus:FullAccounts 2022-03-01 2023-02-28 04904001 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 04904001 bus:RegisteredOffice 2022-03-01 2023-02-28 04904001 bus:Director1 2022-03-01 2023-02-28 04904001 bus:Director1 1 2022-03-01 2023-02-28 04904001 bus:Director3 2022-03-01 2023-02-28 04904001 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 04904001 bus:OrdinaryShareClass2 2022-03-01 2023-02-28 04904001 bus:OrdinaryShareClass3 2022-03-01 2023-02-28 04904001 bus:OrdinaryShareClass4 2022-03-01 2023-02-28 04904001 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 04904001 core:Goodwill 2022-03-01 2023-02-28 04904001 core:NetGoodwill 2022-03-01 2023-02-28 04904001 core:Buildings 2022-03-01 2023-02-28 04904001 core:FurnitureFittings 2022-03-01 2023-02-28 04904001 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 04904001 core:LandBuildings 2022-03-01 2023-02-28 04904001 core:MotorVehicles 2022-03-01 2023-02-28 04904001 core:OfficeEquipment 2022-03-01 2023-02-28 04904001 core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 04904001 core:PlantMachinery 2022-03-01 2023-02-28 04904001 countries:EnglandWales 2022-03-01 2023-02-28 04904001 2022-02-28 04904001 bus:Director1 1 2022-02-28 04904001 core:Goodwill 2022-02-28 04904001 core:FurnitureFittingsToolsEquipment 2022-02-28 04904001 core:LandBuildings 2022-02-28 04904001 core:MotorVehicles 2022-02-28 04904001 core:OtherPropertyPlantEquipment 2022-02-28 04904001 2021-03-01 2022-02-28 04904001 2022-02-28 04904001 bus:Director1 1 2022-02-28 04904001 bus:OrdinaryShareClass1 2022-02-28 04904001 bus:OrdinaryShareClass2 2022-02-28 04904001 bus:OrdinaryShareClass3 2022-02-28 04904001 bus:OrdinaryShareClass4 2022-02-28 04904001 core:CurrentFinancialInstruments 2022-02-28 04904001 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 04904001 core:Non-currentFinancialInstruments 2022-02-28 04904001 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 04904001 core:FurnitureFittingsToolsEquipment 2022-02-28 04904001 core:LandBuildings 2022-02-28 04904001 core:MotorVehicles 2022-02-28 04904001 core:OtherPropertyPlantEquipment 2022-02-28 04904001 bus:Director1 1 2021-03-01 2022-02-28 04904001 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 04904001 bus:OrdinaryShareClass2 2021-03-01 2022-02-28 04904001 bus:OrdinaryShareClass3 2021-03-01 2022-02-28 04904001 bus:OrdinaryShareClass4 2021-03-01 2022-02-28 04904001 bus:Director1 1 2021-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04904001

John Doble Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

John Doble Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

John Doble Limited

Company Information

Directors

Mr John Doble

Mr Roo Nelson Doble

Registered office

Tormuhun Manor
Kents Road
Torquay
Devon
TQ1 2NN

Accountants

Neil Wilson Accountancy Limited
Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

John Doble Limited

(Registration number: 04904001)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

234,855

238,278

Current assets

 

Stocks

6

741,875

719,883

Debtors

7

5,000

1,170

Cash at bank and in hand

 

20,779

88,100

 

767,654

809,153

Creditors: Amounts falling due within one year

8

(171,515)

(206,956)

Net current assets

 

596,139

602,197

Total assets less current liabilities

 

830,994

840,475

Creditors: Amounts falling due after more than one year

8

(294,241)

(359,283)

Provisions for liabilities

(3,621)

(4,574)

Net assets

 

533,132

476,618

Capital and reserves

 

Called up share capital

9

1,000

1,000

Retained earnings

532,132

475,618

Shareholders' funds

 

533,132

476,618

For the financial year ending 28 February 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 23 February 2024 and signed on its behalf by:
 

 

John Doble Limited

(Registration number: 04904001)
Balance Sheet as at 28 February 2023

.........................................
Mr John Doble
Director

 

John Doble Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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:
Tormuhun Manor
Kents Road
Torquay
Devon
TQ1 2NN

These financial statements were authorised for issue by the Board on 23 February 2024.

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.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

 

John Doble Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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:

Freehold land and buildings are maintained at such a level that in the director's opinion that they do not depreciate over time.

Asset class

Depreciation method and rate

Fixtures and fittings

25% Reducing balance basis

Office equipment

25% Reducing balance basis

Plant and machinery

25% Reducing balance basis

Freehold land and buildings

Nil

Motor Vehicles

25% Reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

Goodwill

10% 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.

 

John Doble Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

John Doble Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2022 - 14).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2022

14,041

14,041

At 28 February 2023

14,041

14,041

Amortisation

At 1 March 2022

14,041

14,041

At 28 February 2023

14,041

14,041

Carrying amount

At 28 February 2023

-

-

 

John Doble Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2022

215,798

37,143

23,345

19,890

296,176

Additions

-

2,930

-

-

2,930

At 28 February 2023

215,798

40,073

23,345

19,890

299,106

Depreciation

At 1 March 2022

-

35,423

5,836

16,639

57,898

Charge for the year

-

1,163

4,377

813

6,353

At 28 February 2023

-

36,586

10,213

17,452

64,251

Carrying amount

At 28 February 2023

215,798

3,487

13,132

2,438

234,855

At 28 February 2022

215,798

1,720

17,509

3,251

238,278

Included within the net book value of land and buildings above is £193,292 (2022 - £193,292) in respect of freehold land and buildings and £22,506 (2022 - £22,506) in respect of long leasehold land and buildings.
 

 

John Doble Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Stocks

2023
£

2022
£

Other inventories

741,875

719,883

7

Debtors

Current

2023
£

2022
£

Prepayments

-

1,170

Other debtors

5,000

-

 

John Doble Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

35,197

33,892

Trade creditors

 

38,464

62,373

Taxation and social security

 

65,814

86,882

Accruals and deferred income

 

5,385

6,415

Other creditors

 

26,655

17,394

 

171,515

206,956

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

294,241

359,283

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

970

970

970

970

Ordinary class A shares of £1 each

10

10

10

10

Ordinary class B shares of £1 each

10

10

10

10

Ordinary class C shares of £1 each

10

10

10

10

 

1,000

1,000

1,000

1,000

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

294,241

359,283

 

John Doble Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

35,197

33,892

11

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £2.06 (2022 - £9.28) per each Ordinary shares

 

2,000

 

9,000

Interim dividend of £Nil (2022 - £300.00) per each Ordinary class A shares

 

-

 

3,000

Interim dividend of £Nil per each Ordinary class B shares

 

-

 

-

Interim dividend of £Nil per each Ordinary class C shares

 

-

 

-

   

2,000

 

12,000

12

Related party transactions

Transactions with directors

2023

At 1 March 2022
£

Repayments by director
£

At 28 February 2023
£

Mr John Doble

Director loan

(17,394)

(9,261)

(26,655)

       
     

 

2022

At 1 March 2021
£

Advances to director
£

Repayments by director
£

At 28 February 2022
£

Mr John Doble

Director loan

(78,606)

115,296

(54,084)

(17,394)

         
       

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

8,156

8,272

Dividends paid to directors

 

John Doble Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

   

2023
£

 

2022
£

Mr John Doble

       

Interim dividends paid

 

2,000

 

9,000