Company Registration No. 04310770 (England and Wales)
Double I Limited
Unaudited accounts
for the year ended 31 October 2023
Double I Limited
Unaudited accounts
Contents
Double I Limited
Company Information
for the year ended 31 October 2023
Company Number
04310770 (England and Wales)
Registered Office
12 The Grove
Finchley
London
N3 1QL
Double I Limited
Statement of financial position
as at 31 October 2023
Tangible assets
34,372
36,439
Investment property
88,439
84,228
Cash at bank and in hand
574,493
208,556
Creditors: amounts falling due within one year
(388,265)
(27,132)
Net current assets
201,735
213,495
Total assets less current liabilities
324,546
334,162
Provisions for liabilities
Deferred tax
(2,102)
(1,505)
Net assets
322,444
332,657
Called up share capital
1
1
Profit and loss account
322,443
332,656
Shareholders' funds
322,444
332,657
For the 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. 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 July 2024 and were signed on its behalf by
Ivan Izikowitz
Director
Company Registration No. 04310770
Double I Limited
Notes to the Accounts
for the year ended 31 October 2023
Double I Limited is a private company, limited by shares, registered in England and Wales, registration number 04310770. The registered office is 12 The Grove, Finchley, London, N3 1QL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Depreciated on a straight line basis over 50 years
Plant & machinery
Depreciated on a straight line basis over 25 years
Computer equipment
Depreciated on a straight line basis over 3 years
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Double I Limited
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2022
27,502
13,656
3,556
44,714
At 31 October 2023
27,502
13,007
4,205
44,714
At 1 November 2022
2,683
2,600
2,992
8,275
Charge for the year
550
520
997
2,067
At 31 October 2023
3,233
3,120
3,989
10,342
At 31 October 2023
24,269
9,887
216
34,372
At 31 October 2022
24,819
11,056
564
36,439
Fair value at 1 November 2022
84,228
Net gain from fair value adjustments
4,211
Amounts falling due within one year
Trade debtors
1,380
(2,520)
Amounts due from group undertakings etc.
-
17,216
Other debtors
11,572
17,375
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
637
10,506
Amounts owed to group undertakings and other participating interests
376,182
-
Taxes and social security
4,736
9,372
Other creditors
2,384
3,066
Loans from directors
4,326
-
Double I Limited
Notes to the Accounts
for the year ended 31 October 2023
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to Director
(48)
200,000
203,750
(3,798)
(48)
200,000
203,750
(3,798)
The loan is repayable on demand and subject to interest at 2.25%
10
Transactions with related parties
At the balance sheet date the company owed £376,181 to it's parent company.
This loan is interest-free and repayable on demand.
The company's immediate parent is Double I Holdings Limited, which is incorporated in the UK.
The ultimate controlling party is Ivan Izikowitz
12
Average number of employees
During the year the average number of employees was 1 (2022: 3).