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Registration number: 10355230

Dotage Investments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Dotage Investments Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Dotage Investments Ltd

(Registration number: 10355230)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

312,111

313,132

Current assets

 

Debtors

5

7,681

1,456

Cash at bank and in hand

 

19,725

18,301

 

27,406

19,757

Creditors: Amounts falling due within one year

6

(131,585)

(128,961)

Net current liabilities

 

(104,179)

(109,204)

Total assets less current liabilities

 

207,932

203,928

Creditors: Amounts falling due after more than one year

6

(88,473)

(97,048)

Provisions for liabilities

(7,672)

(7,927)

Net assets

 

111,787

98,953

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

28,576

28,576

Profit and loss account

83,111

70,277

Shareholders' funds

 

111,787

98,953

 

Dotage Investments Ltd

(Registration number: 10355230)
Statement of Financial Position as at 31 December 2023 (continued)

For the financial year ending 31 December 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 19 March 2024 and signed on its behalf by:
 


Mr A Noon
Director

 

Dotage Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
26-28 Southernhay East
Exeter
EX1 1NS

Principal activity

The principal activity of the company is property leasing.

2

Accounting policies

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

 

Dotage Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class

Depreciation method and rate

Freehold property

Investment property not depreciated

Plant and machinery

25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

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 of the provision as an expense.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Dotage Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

310,000

6,144

316,144

At 31 December 2023

310,000

6,144

316,144

Depreciation

At 1 January 2023

-

3,012

3,012

Charge for the year

-

1,021

1,021

At 31 December 2023

-

4,033

4,033

Carrying amount

At 31 December 2023

310,000

2,111

312,111

At 31 December 2022

310,000

3,132

313,132

Included within the net book value of land and buildings above is £310,000 (2022 - £310,000) in respect of freehold land and buildings.
 

5

Debtors

2023
£

2022
£

Trade debtors

6,582

314

Other debtors

231

1,142

Prepayments

868

-

7,681

1,456

 

Dotage Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9,500

9,500

Taxation and social security

 

4,440

3,129

Accruals and deferred income

 

4,273

3,694

Other creditors

 

113,372

112,638

 

131,585

128,961

The loan is secured on a charge over the freehold property held by the company.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

88,473

97,048

Included within creditors: amounts falling due after more than one year is an amount of £ 50,473 (2022 £ 59,048) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The loan is secured on a charge over the freehold property held by the company.

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Retained earnings
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(15,000)

(15,000)

Profit and loss account:

This reserve records retained earnings and accumulated losses.


Revaluation reserve:
This reserve records the proportion of the profit and loss account that represents accumulated gains and losses from investment properties and is displayed separately to retain a record of these reserves not distributable to holders of equity by way of dividends.

 

Dotage Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

8

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

At 31 December 2023
£

Directors

109,900

109,900

     
   

 

2022

At 1 January 2022
£

At 31 December 2022
£

Directors

109,900

109,900