5 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-06 Sage Accounts Production Advanced 2023 - FRS102_2023 2,585 3,400 5,985 693 401 1,094 4,891 1,892 500 500 500 xbrli:pure xbrli:shares iso4217:GBP 01349961 2022-04-06 2023-04-05 01349961 2023-04-05 01349961 2022-04-05 01349961 2021-04-06 2022-04-05 01349961 2022-04-05 01349961 2021-04-05 01349961 bus:Director1 2022-04-06 2023-04-05 01349961 core:LandBuildings core:LongLeaseholdAssets 2022-04-05 01349961 core:PlantMachinery 2022-04-05 01349961 core:MotorVehicles 2022-04-05 01349961 core:LandBuildings core:LongLeaseholdAssets 2023-04-05 01349961 core:PlantMachinery 2023-04-05 01349961 core:MotorVehicles 2023-04-05 01349961 core:LandBuildings core:LongLeaseholdAssets 2022-04-06 2023-04-05 01349961 core:PlantMachinery 2022-04-06 2023-04-05 01349961 core:MotorVehicles 2022-04-06 2023-04-05 01349961 core:WithinOneYear 2023-04-05 01349961 core:WithinOneYear 2022-04-05 01349961 core:AfterOneYear 2023-04-05 01349961 core:AfterOneYear 2022-04-05 01349961 core:ShareCapital 2023-04-05 01349961 core:ShareCapital 2022-04-05 01349961 core:RetainedEarningsAccumulatedLosses 2023-04-05 01349961 core:RetainedEarningsAccumulatedLosses 2022-04-05 01349961 core:CostValuation core:Non-currentFinancialInstruments 2023-04-05 01349961 core:Non-currentFinancialInstruments 2023-04-05 01349961 core:Non-currentFinancialInstruments 2022-04-05 01349961 core:LandBuildings core:LongLeaseholdAssets 2022-04-05 01349961 core:PlantMachinery 2022-04-05 01349961 core:MotorVehicles 2022-04-05 01349961 bus:SmallEntities 2022-04-06 2023-04-05 01349961 bus:AuditExemptWithAccountantsReport 2022-04-06 2023-04-05 01349961 bus:SmallCompaniesRegimeForAccounts 2022-04-06 2023-04-05 01349961 bus:PrivateLimitedCompanyLtd 2022-04-06 2023-04-05 01349961 bus:FullAccounts 2022-04-06 2023-04-05 01349961 core:ComputerSoftware 2022-04-06 2023-04-05 01349961 core:ComputerSoftware 2022-04-05 01349961 core:ComputerSoftware 2023-04-05 01349961 core:KeyManagementIndividualGroup1 2022-04-06 2023-04-05 01349961 core:KeyManagementIndividualGroup1 2023-04-05 01349961 core:KeyManagementIndividualGroup1 2022-04-05
COMPANY REGISTRATION NUMBER: 01349961
Duntulm Limited
Filleted Unaudited Financial Statements
For the year ended
5 April 2023
Duntulm Limited
Statement of Financial Position
5 April 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
4
4,891
1,892
Tangible assets
5
116,458
109,670
Investments
6
500
500
----------
----------
121,849
112,062
Current assets
Debtors
7
3,589
3,791
Cash at bank and in hand
15,879
67,079
--------
--------
19,468
70,870
Creditors: amounts falling due within one year
8
( 45,137)
( 43,537)
--------
--------
Net current (liabilities)/assets
( 25,669)
27,333
----------
----------
Total assets less current liabilities
96,180
139,395
Creditors: amounts falling due after more than one year
9
( 91,091)
( 111,323)
Provisions
Taxation including deferred tax
660
--------
----------
Net assets
5,089
28,732
--------
----------
Capital and reserves
Called up share capital
100
100
Profit and loss account
4,989
28,632
-------
--------
Shareholders funds
5,089
28,732
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
Duntulm Limited
Statement of Financial Position (continued)
5 April 2023
For the year ending 5 April 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 April 2024 , and are signed on behalf of the board by:
Mr S A B Macdonald
Director
Company registration number: 01349961
Duntulm Limited
Notes to the Financial Statements
Year ended 5 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Townends Accountants LLP, Goole, East Yorkshire, DN14 5DX.
2. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from pitch rents is recognised on the date of the customers stay. Revenue from the sale of goods is recognised at the point of sale to the customer.
(d) Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively . Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date . Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference .
(e) Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably .
(f) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Computer software
-
10% reducing balance
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(g) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(h) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property Improvements
-
2% Straight line
Plant & Machinery
-
10% reducing balance
Motor Vehicles
-
20% reducing balance
(i) Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
(j) Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(k) Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
(l) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
(m) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities .
(n) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 5 ).
4. Intangible assets
Computer software
£
Cost
At 6 April 2022
2,585
Additions
3,400
-------
At 5 April 2023
5,985
-------
Amortisation
At 6 April 2022
693
Charge for the year
401
-------
At 5 April 2023
1,094
-------
Carrying amount
At 5 April 2023
4,891
-------
At 5 April 2022
1,892
-------
5. Tangible assets
Impr'ts to property
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 6 April 2022
57,670
140,507
6,450
204,627
Additions
12,101
12,101
--------
----------
-------
----------
At 5 April 2023
57,670
152,608
6,450
216,728
--------
----------
-------
----------
Depreciation
At 6 April 2022
1
88,949
6,007
94,957
Charge for the year
5,202
111
5,313
--------
----------
-------
----------
At 5 April 2023
1
94,151
6,118
100,270
--------
----------
-------
----------
Carrying amount
At 5 April 2023
57,669
58,457
332
116,458
--------
----------
-------
----------
At 5 April 2022
57,669
51,558
443
109,670
--------
----------
-------
----------
6. Investments
Investments
£
Cost
At 6 April 2022 and 5 April 2023
500
----
Impairment
At 6 April 2022 and 5 April 2023
----
Carrying amount
At 5 April 2023
500
----
At 5 April 2022
500
----
7. Debtors
2023
2022
£
£
Other debtors
3,589
3,791
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
6,062
5,911
Trade creditors
12,927
4,625
Social security and other taxes
1,349
31
Amounts due from related undertakings
13,675
13,675
Other creditors
11,124
19,295
--------
--------
45,137
43,537
--------
--------
Hire purchase liabilities are secured on the associated asset.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
13,663
19,725
Directors loan accounts
73,107
85,113
Other creditors
4,321
6,485
--------
----------
91,091
111,323
--------
----------
Hire purchase liabilities are secured on the associated asset.
10. Related party transactions
During the year, the company was in receipt of loans from the directors . No interest was charged on the loans in the year and the loans are not repayable before 5 April 2024. At the year end date the balance owing to the directors totalled £ 73,107 (2022 - £ 85,113 ).