Company registration number | |
for the year ended |
|
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 | ||||
Financial statements for the year ended |
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Balance Sheet | |||||||
Notes | 2023 | 2022 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Current assets | |||||||
Debtors | 4 | ||||||
Cash at bank and in hand | - | ||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
||||
Net current liabilities | ( |
( |
|||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 6 | - | ( |
||||
Provisions for liabilities | 7 | ( |
( |
||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Revaluation reserve | 8 | ||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
These financial statements were approved by the board on |
|||||||
O K Alhezaimi | |||||||
Director | |||||||
Company registration number 02282721 | |||||||
Financial statements for the year ended |
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Notes to the Financial Statements | ||||||||
1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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 | ||||||||
Tangible fixed assets | ||||||||
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 | ||||||||
Creditors | ||||||||
Taxation | ||||||||
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. |
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Provisions | ||||||||
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. |
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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 | ||||||||
Additions | - | |||||||
Disposals | - | - | ( |
( |
||||
At 30 June 2023 | ||||||||
Depreciation | ||||||||
At 1 July 2022 | - | |||||||
Charge for the year | - | |||||||
On disposals | - | - | ( |
( |
||||
At 30 June 2023 | - | |||||||
Net book value | ||||||||
At 30 June 2023 | ||||||||
At 30 June 2022 | ||||||||
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 | - | |||||||
Other debtors | ||||||||
5 | Creditors: amounts falling due within one year | 2023 | 2022 | |||||
£ | £ | |||||||
Bank loans | - | |||||||
Trade creditors | ||||||||
Amounts owed to group undertakings | - | |||||||
Taxes and social security costs | ||||||||
Other creditors | ||||||||
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 | - | |||||||
7 | Provisions for liabilities | 2023 | 2022 | |||||
£ | £ | |||||||
Deferred taxation | 242,606 | 249,113 | ||||||
8 | Revaluation reserve | 2023 | 2022 | |||||
£ | £ | |||||||
At 1 July 2022 | ||||||||
Gain on revaluation of freehold property | - | |||||||
Deferred taxation arising on the revaluation of freehold property | - | ( |
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At 30 June 2023 | ||||||||
9 | Related party transactions | |||||||
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 |