Company registration number 12610394 (England and Wales)
DORMOBILE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
DORMOBILE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
DORMOBILE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
2,096
2,346
Tangible assets
5
2,927,145
2,575,719
Investments
6
1
-
0
2,929,242
2,578,065
Current assets
Stocks
2,124,427
1,729,225
Debtors
7
362,728
561,047
Cash at bank and in hand
1,325,610
1,118,881
3,812,765
3,409,153
Creditors: amounts falling due within one year
8
(331,834)
(5,951,863)
Net current assets/(liabilities)
3,480,931
(2,542,710)
Net assets
6,410,173
35,355
Capital and reserves
Called up share capital
9
6,380,001
1
Profit and loss reserves
30,172
35,354
Total equity
6,410,173
35,355

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial 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.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 10 September 2024
P J Street
Director
Company Registration No. 12610394
DORMOBILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Dormobile Limited is a private company limited by shares incorporated in England and Wales. The registered office is 36 Romsey Road, Lyndhurst, Hampshire, United Kingdom, SO43 7AR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
Straight line over 10 years
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is charged on tangible fixed assets, other than freehold land, so as to write off the cost by equal instalments over their estimated useful lives principally using the following annual rates:

Plant and machinary
10% to 40%

Freehold land and assets in the course of construction are not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

DORMOBILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

DORMOBILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
10
10
4
Intangible fixed assets
Other
£
Cost
At 1 January 2023 and 31 December 2023
2,501
Amortisation and impairment
At 1 January 2023
155
Amortisation charged for the year
250
At 31 December 2023
405
Carrying amount
At 31 December 2023
2,096
At 31 December 2022
2,346
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
1,532,386
1,163,801
2,696,187
Additions
2,000
1,258,129
1,260,129
Disposals
-
0
(878,050)
(878,050)
At 31 December 2023
1,534,386
1,543,880
3,078,266
Depreciation and impairment
At 1 January 2023
-
0
120,468
120,468
Depreciation charged in the year
8,920
117,725
126,645
Eliminated in respect of disposals
-
0
(95,992)
(95,992)
At 31 December 2023
8,920
142,201
151,121
Carrying amount
At 31 December 2023
1,525,466
1,401,679
2,927,145
At 31 December 2022
1,532,386
1,043,333
2,575,719
DORMOBILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1
-
0
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2023
-
Additions
6,380,000
At 31 December 2023
6,380,000
Impairment
At 1 January 2023
-
Impairment losses
6,379,999
At 31 December 2023
6,379,999
Carrying amount
At 31 December 2023
1
At 31 December 2022
-

On 14 July 2023, the company acquired 6,380,000 Ordinary £1 shares in CAIS Cashco Limited from a related company, PJS One Limited, in exchange for the issue of 6,380,000 Redeemable preference shares of £1 each in Dormobile Limited.

 

On 19 July 2023, CAIS Cashco Limited carried out a share reduction of 6,379,999 of its Ordinary shares of £1 each fully paid, which were credited to its profit and loss account and an interim dividend was paid out, which has repaid the £5,500,000 loan owed to PJS One Limited at note 10 and received cash in the bank. The investment has subsequently been impaired through the profit and loss account as shown at note 5 to agree the remaining investment value.

7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
272,264
514,351
Other debtors
70,915
1
Prepayments and accrued income
19,549
46,695
362,728
561,047
DORMOBILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
8
Creditors: amounts falling due within one year
2023
2022
£
£
Other borrowings
-
0
5,500,000
Trade creditors
325,634
285,280
Taxation and social security
-
0
135,795
Other creditors
1,300
26,588
Accruals and deferred income
4,900
4,200
331,834
5,951,863
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
2023
2022
2023
2022
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference shares of £1 each
6,380,000
-
6,380,000
-
Preference shares classified as equity
6,380,000
-
Total equity share capital
6,380,001
1

As detailed in note 6, on 14 July 2023, the company issued 6,380,000 redeemable prefernce shares of £1 each fully paid. These shares carry no right to vote but carry a discretionary right to a dividend on a return of capital, liquidation or otherwise and take preference to the Ordinary shares in the event of winding up the company.

10
Related party transactions

At the reporting end date, the balance owed to PJS One totalled £nil (2022: £5,500,000)

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