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Registration number: 11049995

R J Dowding Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

R J Dowding Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

R J Dowding Limited

(Registration number: 11049995)
Statement of Financial Position as at 30 November 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Tangible assets

4

8,272

5,271

Other financial assets

5

4,077

-

 

12,349

5,271

Current assets

 

Debtors

6

327,046

113,376

Cash at bank and in hand

 

830,880

834,768

 

1,157,926

948,144

Creditors: Amounts falling due within one year

7

(116,792)

(194,449)

Net current assets

 

1,041,134

753,695

Net assets

 

1,053,483

758,966

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

1,053,283

758,766

Shareholders' funds

 

1,053,483

758,966

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 27 August 2024
 

 

R J Dowding Limited

(Registration number: 11049995)
Statement of Financial Position as at 30 November 2023 (continued)


R J Dowding
Director

 

R J Dowding Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

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

The address of its registered office is:
128 City Road
London
EC1V 2NX

Principal activity

The principal activity of the company is hosting of online gaming.

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.

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

Going concern

The financial statements have been prepared on a going concern basis.

 

R J Dowding Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Prior period errors

Following a change of company accountant, a number of prior year accounting and VAT errors have been identified:

VAT errors - a prior year adjustment has been made in respect of VAT incorrectly accounted for to HMRC on overseas sales totalling £138,271 in respect of the earlier periods ending 30 November 2022 and 2021..

Other errors - a prior year adjustment totalling £92,235 has been made in respect of the 30 November 2022 accounts. The corporation tax liability had been understated by £92,235, with corresponding overstatement of sales totalling £75,000 and wages costs being understated by £17,235.

Corporation tax arising from all these prior year adjustments totals £10,588.

The net adjustments lead to a prior year increase in retained profits of £43,265 for 2021 and decrease in retained profits of £7,817 for 2022,

Relating to the current period disclosed in these financial statements
£

Relating to the prior period disclosed in these financial statements
£

Relating to periods before the prior period disclosed in these financial statements
£

Sales re VAT adjustment

-

(82,083)

(56,188)

Sales re overstatement

-

75,000

-

Wages

-

17,235

-

Corporation tax charge

-

(2,335)

12,923

Corporation tax liability

-

(92,235)

-

VAT liability

-

82,083

56,188

Corporation tax liability

-

2,335

(12,923)

   

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.

 

R J Dowding Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

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 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 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.

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

Office equipment

3 years straight line

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

 

R J Dowding Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

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 the director) during the year, was 2 (2022 - 2).

 

R J Dowding Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 December 2022

8,363

8,363

Additions

4,501

4,501

At 30 November 2023

12,864

12,864

Depreciation

At 1 December 2022

3,092

3,092

Charge for the year

1,500

1,500

At 30 November 2023

4,592

4,592

Carrying amount

At 30 November 2023

8,272

8,272

At 30 November 2022

5,271

5,271

5

Other investments

Precious metals

Total
£

Current financial assets

Cost or valuation

Additions

4,077

4,077

At 30 November 2023

4,077

4,077

Impairment

Carrying amount

At 30 November 2023

4,077

4,077

6

Debtors

2023
£

(As restated)

2022
£

Other debtors

327,046

113,376

327,046

113,376

 

R J Dowding Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

2023
£

(As restated)

2022
£

Due within one year

Taxation and social security

104,776

194,449

Accruals and deferred income

12,016

-

116,792

194,449

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Related party transactions

Transactions with the director

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Loan to director

43,391

27,102

(30,000)

40,493

         
       

 

2022

At 1 December 2021
£

Advances to director
£

At 30 November 2022
£

Loan to director

7,646

35,745

43,391

 

Other transactions with the director

Interest is charged on overdrawn director loan balances at HMRC's official rate of interest.