Doriflon Limited 01365572 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the machining of fluoro-carbon resins and other engineering plastic materials. Digita Accounts Production Advanced 6.30.9574.0 true 01365572 2023-01-01 2023-12-31 01365572 2023-12-31 01365572 bus:Director2 1 2023-12-31 01365572 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 01365572 core:CurrentFinancialInstruments 2023-12-31 01365572 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 01365572 core:Non-currentFinancialInstruments 2023-12-31 01365572 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 01365572 core:FurnitureFittingsToolsEquipment 2023-12-31 01365572 core:LandBuildings 2023-12-31 01365572 core:MotorVehicles 2023-12-31 01365572 core:OtherPropertyPlantEquipment 2023-12-31 01365572 bus:SmallEntities 2023-01-01 2023-12-31 01365572 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01365572 bus:FullAccounts 2023-01-01 2023-12-31 01365572 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01365572 bus:RegisteredOffice 2023-01-01 2023-12-31 01365572 bus:Director2 2023-01-01 2023-12-31 01365572 bus:Director2 1 2023-01-01 2023-12-31 01365572 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01365572 core:ComputerEquipment 2023-01-01 2023-12-31 01365572 core:FurnitureFittings 2023-01-01 2023-12-31 01365572 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 01365572 core:LandBuildings 2023-01-01 2023-12-31 01365572 core:MotorVehicles 2023-01-01 2023-12-31 01365572 core:OfficeEquipment 2023-01-01 2023-12-31 01365572 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 01365572 core:PlantMachinery 2023-01-01 2023-12-31 01365572 countries:EnglandWales 2023-01-01 2023-12-31 01365572 2022-12-31 01365572 bus:Director2 1 2022-12-31 01365572 core:FurnitureFittingsToolsEquipment 2022-12-31 01365572 core:LandBuildings 2022-12-31 01365572 core:MotorVehicles 2022-12-31 01365572 core:OtherPropertyPlantEquipment 2022-12-31 01365572 2022-01-01 2022-12-31 01365572 2022-12-31 01365572 bus:Director2 1 2022-12-31 01365572 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-12-31 01365572 core:CurrentFinancialInstruments 2022-12-31 01365572 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 01365572 core:Non-currentFinancialInstruments 2022-12-31 01365572 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 01365572 core:FurnitureFittingsToolsEquipment 2022-12-31 01365572 core:LandBuildings 2022-12-31 01365572 core:MotorVehicles 2022-12-31 01365572 core:OtherPropertyPlantEquipment 2022-12-31 01365572 bus:Director2 1 2022-01-01 2022-12-31 01365572 bus:Director2 1 2021-12-31 iso4217:GBP xbrli:pure

Registration number: 01365572

Doriflon Limited

Annual Report and Unaudited Financial Statements

for the year ended 31 December 2023

 

Doriflon Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 11

 

Doriflon Limited

(Registration number: 01365572)
Statement of Financial Position
31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

92,033

59,960

Current assets

 

Stocks

5

93,436

85,496

Debtors

6

87,882

161,339

Cash at bank and in hand

 

244,391

178,728

 

425,709

425,563

Creditors: Amounts falling due within one year

7

(88,390)

(66,363)

Net current assets

 

337,319

359,200

Total assets less current liabilities

 

429,352

419,160

Creditors: Amounts falling due after more than one year

7

(15,000)

(35,000)

Provisions for liabilities

(17,486)

(11,393)

Net assets

 

396,866

372,767

Capital and reserves

 

Called up share capital

100

100

Share premium reserve

1,900

1,900

Retained earnings

394,866

370,767

Shareholders' funds

 

396,866

372,767

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.

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 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.

 

Doriflon Limited

(Registration number: 01365572)
Statement of Financial Position
31 December 2023

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 3 September 2024
 

.........................................
B Wood
Director

 

Doriflon 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 and Wales.

The address of its registered office is:
Unit 5 Cumbie Way
Aycliffe Industrial Estate
Newton Aycliffe
County Durham

These financial statements were authorised for issue by the director on 3 September 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.

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.

 

Doriflon Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 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 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

Land and buildings

50% reducing balance

Plant and machinery

20% reducing balance

Office equipment

20% reducing balance

Computer equipment

50% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

over 4 years

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.

 

Doriflon Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 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.

 

Doriflon Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

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.

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 statement of financial position 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.

 

Doriflon Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

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 year, was 9 (2022 - 9).

 

Doriflon Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

1,442

78,354

65,512

333,699

479,007

Additions

-

3,080

46,661

-

49,741

Disposals

-

-

(51,513)

-

(51,513)

At 31 December 2023

1,442

81,434

60,660

333,699

477,235

Depreciation

At 1 January 2023

1,441

73,521

59,481

284,604

419,047

Charge for the year

-

1,651

5,133

9,810

16,594

Eliminated on disposal

-

-

(50,439)

-

(50,439)

At 31 December 2023

1,441

75,172

14,175

294,414

385,202

Carrying amount

At 31 December 2023

1

6,262

46,485

39,285

92,033

At 31 December 2022

1

4,833

6,031

49,095

59,960

 

Doriflon Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

5

Stocks

2023
£

2022
£

Other inventories

93,436

85,496

6

Debtors

Current

2023
£

2022
£

Trade debtors

71,622

96,202

Prepayments

16,260

15,137

Other debtors

-

50,000

 

87,882

161,339

 

Doriflon Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

10,000

1,355

Trade creditors

 

11,697

8,061

Taxation and social security

 

49,612

41,492

Accruals and deferred income

 

2,954

2,595

Other creditors

 

14,127

12,860

 

88,390

66,363

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

15,000

35,000

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

15,000

35,000

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

-

Hire purchase contracts

-

1,355

10,000

1,355

 

Doriflon Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

9

Related party transactions

Transactions with the director

2023

At 1 January 2023
£

Repayments by director
£

At 31 December 2023
£

B Wood

loan account

50,000

(50,000)

-

       
     

 

2022

At 1 January 2022
£

Advances to director
£

At 31 December 2022
£

B Wood

loan account

-

50,000

50,000