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Registration number: 04424996

Dobbyman Ltd

Unaudited Filleted Financial Statements

for the Period from 26 August 2022 to 31 August 2023

 

Dobbyman Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Dobbyman Ltd

Company Information

Director

Mr Andrew Austin Morgan

Registered office

50 Princes Street
Ipswich
Suffolk
IP1 1RJ

Accountants

JCB Accounting Ltd
Association of Chartered Certified Accountants
1 Glebe End
Capel St Mary
Ipswich
Suffolk
IP9 2XR

 

Dobbyman Ltd

(Registration number: 04424996)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

43,195

42,820

Current assets

 

Stocks

5

186,000

216,100

Debtors

6

717,624

666,888

Cash at bank and in hand

 

6,254

19,287

 

909,878

902,275

Creditors: Amounts falling due within one year

7

(446,569)

(482,537)

Net current assets

 

463,309

419,738

Total assets less current liabilities

 

506,504

462,558

Creditors: Amounts falling due after more than one year

7

(15,357)

(6,067)

Provisions for liabilities

(11,992)

(7,840)

Net assets

 

479,155

448,651

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

479,055

448,551

Shareholders' funds

 

479,155

448,651

For the financial period ending 31 August 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 period in question in accordance with section 476; and

The director acknowledges his 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 Profit and Loss Account.

Approved and authorised by the director on 30 August 2024
 

 

Dobbyman Ltd

(Registration number: 04424996)
Balance Sheet as at 31 August 2023

.........................................
Mr Andrew Austin Morgan
Director

 

Dobbyman Ltd

Notes to the Unaudited Financial Statements for the Period from 26 August 2022 to 31 August 2023

1

General information

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

The address of its registered office is:
50 Princes Street
Ipswich
Suffolk
IP1 1RJ
England

These financial statements were authorised for issue by the director on 30 August 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.

Going concern

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

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.

 

Dobbyman Ltd

Notes to the Unaudited Financial Statements for the Period from 26 August 2022 to 31 August 2023

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.

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

Plant and machinery

25% on reducing balance

Fixtures and fittings

25% on reducing balance

Motor Vehicles

25% on 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.

 

Dobbyman Ltd

Notes to the Unaudited Financial Statements for the Period from 26 August 2022 to 31 August 2023

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Dobbyman Ltd

Notes to the Unaudited Financial Statements for the Period from 26 August 2022 to 31 August 2023

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 8 (2022 - 8).

 

Dobbyman Ltd

Notes to the Unaudited Financial Statements for the Period from 26 August 2022 to 31 August 2023

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 26 August 2022

21,429

72,309

95,544

189,282

Additions

-

-

27,770

27,770

Disposals

-

-

(59,996)

(59,996)

At 31 August 2023

21,429

72,309

63,318

157,056

Depreciation

At 26 August 2022

20,775

65,323

60,364

146,462

Charge for the period

163

1,748

12,489

14,400

Eliminated on disposal

-

-

(47,001)

(47,001)

At 31 August 2023

20,938

67,071

25,852

113,861

Carrying amount

At 31 August 2023

491

5,238

37,466

43,195

At 25 August 2022

654

6,986

35,180

42,820

5

Stocks

2023
£

2022
£

Other inventories

186,000

216,100

6

Debtors

Current

2023
£

2022
£

Trade debtors

130,288

141,456

Prepayments

13,468

-

Other debtors

573,868

525,432

 

717,624

666,888

7

Creditors

Creditors: amounts falling due within one year

 

Dobbyman Ltd

Notes to the Unaudited Financial Statements for the Period from 26 August 2022 to 31 August 2023

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

104,595

107,412

Trade creditors

 

321,077

357,204

Taxation and social security

 

20,578

16,051

Other creditors

 

319

1,870

 

446,569

482,537

 

Dobbyman Ltd

Notes to the Unaudited Financial Statements for the Period from 26 August 2022 to 31 August 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

15,357

6,067

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

15,357

6,067

Current loans and borrowings

2023
£

2022
£

Bank borrowings

28,061

38,709

Bank overdrafts

62,102

61,850

Hire purchase contracts

14,432

6,853

104,595

107,412

10

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £140.00 (2022 - £380.00) per each Ordinary

14,000

38,000

 

 

11

Related party transactions

 

Dobbyman Ltd

Notes to the Unaudited Financial Statements for the Period from 26 August 2022 to 31 August 2023

Director's remuneration

The director's remuneration for the period was as follows:

2023
£

2022
£

Remuneration

12,573

12,570