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Registered Number: 09793457
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 December 2023

for

DORBAN INVESTMENTS LIMITED

These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 December 2023.

We have prepared these finance statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.

You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.



....................................................
MBS Accountants
Unit 3 Tuffley Park
Lower Tuffley Lane
Gloucester
GL2 5DE
11 September 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 715,105    187,146 
715,105    187,146 
Current assets      
Debtors 43,824    2,307 
Cash at bank and in hand 206,477    10,689 
250,301    12,996 
Creditors: amount falling due within one year (517,862)   (157,888)
Net current assets (267,561)   (144,892)
 
Total assets less current liabilities 447,544    42,254 
Creditors: amount falling due after more than one year (487,248)   (71,205)
Net assets (39,704)   (28,951)
 

Capital and reserves
     
Called up share capital 4 2    2 
Profit and loss account (39,706)   (28,953)
Shareholders' funds (39,704)   (28,951)
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 11 September 2024 and were signed on its behalf by:


-------------------------------
Gregory Dorban
Director
2
General Information
Dorban Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 09793457, registration address 80 Ravensden Road, Renhold, Bedford, MK41 0JY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Reducing Balance
Fixtures and Fittings 3 Years Straight Line
Improvements to property 10 Year Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Fixtures and Fittings   Improvements to property   Total
  £   £   £   £
At 01 January 2023 175,679    5,760    8,475    189,914 
Additions 529,413    120    2,910    532,443 
Disposals (1,104)       (1,104)
At 31 December 2023 703,988    5,880    11,385    721,253 
Depreciation
At 01 January 2023   1,920    848    2,768 
Charge for year   1,950    1,430    3,380 
On disposals      
At 31 December 2023   3,870    2,278    6,148 
Net book values
Closing balance as at 31 December 2023 703,988    2,010    9,107    715,105 
Opening balance as at 01 January 2023 175,679    3,840    7,627    187,146 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
2 Class A shares of £1.00 each  
 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Sun and Star Properties Limited(150,000)
Comfy Workers Limited(100,000)
The Right Property Accommodation Limited(2,280)

Sun and Star Properties Limited has extended an interest-free cash loan of £150,000 to Dorban Investments Limited, which is intended to be used by the latter in property investments and operating activities. The loan from Sun and Star Properties Limited is repayable on demand. There were no repayments made during the year so the balance of the loan as at 31 December 2023 is £150,000.
Comfy Workers Limited has extended an interest-free cash loan of £100,000 to Dorban Investments Limited, which is intended to be used by the latter in property investments and operating activities.. The loan from Comfy Workers Limited is repayable on demand. There were no repayments made during the year so the balance of the loan as at 31 December 2023 is £100,000.
The Right Property Accommodation Limited manages the rental properties owned by Dorban Investments Limited, wherein the latter pays the former management fees for its services. The total property management fees (gross of VAT) paid by Dorban Investments Limited to The Right Property Accommodation Limited amounted to £2,280 in the financial year 2023 and £0 (NIL) in the financial year 2022.
3