Company registration number 02282721
Dutton Business Limited
Unaudited Financial Statements
for the year ended 30 June 2023
Cavendish Bond
Chartered Accountants
Bentinck House
3 - 8 Bolsover Street
London
W1W 6AB
Dutton Business Limited
Financial statements for the year ended 30 June 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited financial statements of Dutton Business Limited for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006 we have prepared for your approval the financial statements of Dutton Business Limited for the year ended 30 June 2023, which comprise the profit and loss account, the balance sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Dutton Business Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Dutton Business Limited and state those matters that we have agreed to state to the Board of Directors of Dutton Business Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dutton Business Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Dutton Business Limited has kept adequate accounting records and to prepare financial statements that give a true and fair view of the assets, liabilities, financial position and profit or loss of Dutton Business Limited. You consider that Dutton Business Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Dutton Business Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Cavendish Bond
Chartered Accountants
Bentinck House
3 - 8 Bolsover Street
London
W1W 6AB
29 March 2024
Dutton Business Limited
Financial statements for the year ended 30 June 2023
Balance Sheet
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,439,128 2,426,852
Current assets
Debtors 4 16,351 1,538
Cash at bank and in hand - 7
16,351 1,545
Creditors: amounts falling due within one year 5 (665,745) (592,663)
Net current liabilities (649,394) (591,118)
Total assets less current liabilities 1,789,734 1,835,734
Creditors: amounts falling due after more than one year 6 - (21,519)
Provisions for liabilities 7 (242,606) (249,113)
Net assets 1,547,128 1,565,102
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 8 1,375,775 1,375,775
Profit and loss account 170,353 188,327
Shareholders' funds 1,547,128 1,565,102
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 financial statements have been prepared in accordance with the special provisions for small companies within Part 15 of the Companies Act 2006. The company's profit and loss account for the year has not been delivered to the Registrar of Companies.
These financial statements were approved by the board on 29 March 2024 and are signed on its behalf by
O K Alhezaimi
Director
Company registration number 02282721
Dutton Business Limited
Financial statements for the year ended 30 June 2023
Notes to the Financial Statements
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, as applicable to companies subject to the small entities regime.
Going concern
The director has reviewed the company's anticipated future cash requirements and expects the company to have sufficient resources to be able to continue in operational existence for the foreseeable future. These financial statements have therefore been prepared on the going concern basis.
Turnover
Turnover represents income from the provision of serviced office accommodation and is recognised on a straight line basis over the term of each contract. Turnover derived from the provision of additional services is recognised when the service is provided.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided to write off the cost of each asset, less its estimated residual value, evenly over its expected useful life, as follows:
Furniture and fixtures 20% on cost
Equipment 25% on cost
Freehold property is not depreciated as its residual value is estimated to be equal to its carrying value and the depreciable amount is therefore negligible.
Debtors
Short term debtors are measured at transaction price less any provision for bad and doubtful debts. Loans and other financial assets are initially recognised at fair value, taking account of any transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any impairment losses.
Creditors
Short term creditors are measured at the transaction price. Loans and other financial liabilities are initially recognised at fair value, taking account of any transaction costs, and are subsequently measured at amortised cost using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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. 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, except for revalued property assets where the tax rate that would apply to the sale of the asset is used.

Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions for liabilities are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument those financial instruments are classified as financial liabilities and are presented as such in the balance sheet.

Where the contractual terms of financial instruments do not meet the definition of a financial liability those financial instruments are classified as equity instruments. Dividends and other distributions relating to equity instruments are debited directly to equity.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Freehold property Furniture and fixtures Equipment Total
£ £ £ £
Cost or valuation
At 1 July 2022 2,425,000 82,632 1,622 2,509,254
Additions - 16,083 487 16,570
Disposals - - (1,201) (1,201)
At 30 June 2023 2,425,000 98,715 908 2,524,623
Depreciation
At 1 July 2022 - 81,622 780 82,402
Charge for the year - 3,569 227 3,796
On disposals - - (703) (703)
At 30 June 2023 - 85,191 304 85,495
Net book value
At 30 June 2023 2,425,000 13,524 604 2,439,128
At 30 June 2022 2,425,000 1,010 842 2,426,852
The freehold property was valued by the board by reference to market data. The historic cost of the freehold property is £800,112.
4 Debtors 2023 2022
£ £
Trade debtors 302 -
Other debtors 16,049 1,538
16,351 1,538
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans - 548,322
Trade creditors 2,802 2,893
Amounts owed to group undertakings 595,831 -
Taxes and social security costs 1,858 2,501
Other creditors 65,254 38,947
665,745 592,663
Bank loans falling due within one year include £nil (2021: £534,047) secured against the company's freehold property. All bank loans were repaid in full on 7 July 2022.
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 21,519
7 Provisions for liabilities 2023 2022
£ £
Deferred taxation 242,606 249,113
8 Revaluation reserve 2023 2022
£ £
At 1 July 2022 1,375,775 1,206,089
Gain on revaluation of freehold property - 225,000
Deferred taxation arising on the revaluation of freehold property - (55,314)
At 30 June 2023 1,375,775 1,375,775
9 Related party transactions
The company has taken advantage of the exemption within Financial Reporting Standard 102 from disclosing transactions with other group companies.
10 Parent company
The company's parent company is Dutton House Limited whose registered office is c/o Elliott Matthew Property Lawyers, 12 Margaret Street, London, W1W 8JQ. The group does not prepare consolidated financial statements.
11 Other information
Dutton Business Limited is a private company limited by shares and incorporated in England. Its registered office is:
c/o Elliott Matthew Property Lawyers
12 Margaret Street
London
W1W 8JQ
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