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Registration number: 01519295

Dorelbury Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Dorelbury Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Dorelbury Limited

Company Information

Directors

Richard Young

Michael Dunn

Registered office

Crompton Way
Segensworth West
Fareham
Hampshire
PO15 5SS

Accountants

Prescient Accounting Ltd
Chartered Accountants
Basepoint
Abbey Park Industrial Estate
Romsey
Hampshire
SO51 9AQ

 

Dorelbury Limited

(Registration number: 01519295)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

145,608

176,249

Current assets

 

Stocks

5

10,595

2,170

Debtors

6

452,479

143,523

Cash at bank and in hand

 

1,958,197

1,882,261

 

2,421,271

2,027,954

Creditors: Amounts falling due within one year

7

(1,539,679)

(1,308,626)

Net current assets

 

881,592

719,328

Total assets less current liabilities

 

1,027,200

895,577

Provisions for liabilities

(24,860)

(30,401)

Net assets

 

1,002,340

865,176

Capital and reserves

 

Called up share capital

8

30

30

Capital redemption reserve

2

2

Retained earnings

1,002,308

865,144

Shareholders' funds

 

1,002,340

865,176

For the financial year ending 31 October 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 April 2024 and signed on its behalf by:
 

 

Dorelbury Limited

(Registration number: 01519295)
Balance Sheet as at 31 October 2023 (continued)

.........................................
Richard Young
Director

.........................................
Michael Dunn
Director

 

Dorelbury Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Crompton Way
Segensworth West
Fareham
Hampshire
PO15 5SS

These financial statements were authorised for issue by the Board on 18 April 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.

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.

 

Dorelbury Limited

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

2

Accounting policies (continued)

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:

Asset class

Depreciation method and rate

Leasehold land and buildings

over the lease term

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

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.

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.

 

Dorelbury Limited

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

2

Accounting policies (continued)

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

 

Dorelbury Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2022 - 11).

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

70,097

112,745

332,721

515,563

Additions

-

-

27,525

27,525

Disposals

-

-

(66,903)

(66,903)

At 31 October 2023

70,097

112,745

293,343

476,185

Depreciation

At 1 November 2022

53,851

85,777

199,686

339,314

Charge for the year

1,478

5,394

28,012

34,884

Eliminated on disposal

-

-

(43,621)

(43,621)

At 31 October 2023

55,329

91,171

184,077

330,577

Carrying amount

At 31 October 2023

14,768

21,574

109,266

145,608

At 31 October 2022

16,246

26,968

133,035

176,249

Included within the net book value of land and buildings above is £14,768 (2022 - £16,246) in respect of freehold land and buildings.
 

5

Stocks

2023
£

2022
£

Work in progress

10,546

2,170

Other inventories

49

-

10,595

2,170

 

Dorelbury Limited

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

6

Debtors

Current

2023
£

2022
£

Trade debtors

413,036

67,817

Other debtors

39,443

75,706

 

452,479

143,523

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

224,068

97,163

Taxation and social security

398,947

195,782

Accruals and deferred income

(15,970)

98,379

Other creditors

932,634

917,302

1,539,679

1,308,626

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

B Ordianry share of £0.01 each

2,100

21

2,100

21

C Ordinary share of £0.01 each

900

9

900

9

 

3,000

30

3,000

30