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Registration number: 3635172

Dome Developments (Highbury) Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Dome Developments (Highbury) Limited

(Registration number: 3635172)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

7,690,000

8,025,000

Investments

5

1,399,549

1,399,499

 

9,089,549

9,424,499

Current assets

 

Debtors

6

1,545,789

1,508,099

Cash at bank and in hand

 

1,470,058

4,222,277

 

3,015,847

5,730,376

Creditors: Amounts falling due within one year

7

(72,166)

(2,145,289)

Net current assets

 

2,943,681

3,585,087

Total assets less current liabilities

 

12,033,230

13,009,586

Creditors: Amounts falling due after more than one year

7

(1,345,000)

(1,345,000)

Provisions for liabilities

(560,000)

(490,000)

Net assets

 

10,128,230

11,174,586

Capital and reserves

 

Called up share capital

9

100

100

Other reserves

2,660,533

3,065,533

Retained earnings

7,467,597

8,108,953

Shareholders' funds

 

10,128,230

11,174,586

 

Dome Developments (Highbury) Limited

(Registration number: 3635172)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 


Mr P C Tasou
Director

   
 

Dome Developments (Highbury) Limited

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

1

General information

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

The address of its registered office is:
95 Rosebery Road
Muswell Hill
London
N10 2LD

Registration number: 3635172

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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns.

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 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.

 

Dome Developments (Highbury) Limited

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

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. 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.

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 at the transaction price.

 

Dome Developments (Highbury) Limited

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

Borrowings

Interest-bearing borrowings are 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 January

8,025,000

Fair value adjustments

(335,000)

At 31 December

7,690,000

The value of investment property is reviewed annually by the directors.

There has been no valuation of investment property by an independent valuer.

5

Investments

2023
£

2022
£

Investments in subsidiaries

2

2

Investments in other significant holdings and associates

1,399,547

1,399,497

1,399,549

1,399,499

 

Dome Developments (Highbury) Limited

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

Subsidiaries

£

Cost

At 1 January 2023

2

At 31 December 2023

2

Carrying amount

At 31 December 2023

2

At 31 December 2022

2

Other significant holdings and associates

£

Cost

At 1 January 2023

1,399,497

Additions

50

At 31 December 2023

1,399,547

Carrying amount

At 31 December 2023

1,399,547

At 31 December 2022

1,399,497

6

Debtors

2023
£

2022
£

Amounts owed by group and associated undertakings

1,533,061

1,494,940

Prepayments

12,728

13,159

 

1,545,789

1,508,099

 

Dome Developments (Highbury) Limited

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

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

-

2,000,000

Amounts owed to group and associated undertakings

 

-

74,481

Social security and other taxes

 

33,413

12,513

Other creditors

 

38,753

58,295

 

72,166

2,145,289

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

1,345,000

1,345,000

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

2,000,000

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

1,345,000

1,345,000

Bank borrowings
The interest only bank loan is wholly repayable within five years and is secured by legal charges on the company's investment properties and other assets.

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100