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REGISTERED NUMBER: 00775840 (England and Wales)














Dusrolbake Limited

Unaudited Financial Statements

For The Year Ended 31 December 2023






Dusrolbake Limited (Registered number: 00775840)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


Dusrolbake Limited

Company Information
For The Year Ended 31 December 2023







DIRECTOR: J R Goodall



REGISTERED OFFICE: 2 West Parade Road
Scarborough
North Yorkshire
YO12 5ED



REGISTERED NUMBER: 00775840 (England and Wales)



ACCOUNTANTS: Ingham & Co.
Chartered Accountants
George Stanley House
2 West Parade Road
Scarborough
North Yorkshire
YO12 5ED



BANKERS: Handelsbanken
2 Manor Court
Manor Garth
Eastfield
Scarborough
North Yorkshire
YO11 3TU



SOLICITORS: Raworths LLP
Eton House
89 Station Parade
Harrogate
North Yorkshire
HG1 1HF

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Dusrolbake Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dusrolbake Limited for the year ended 31 December 2023 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Dusrolbake Limited in accordance with the terms of our engagement letter dated 13 September 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Dusrolbake Limited and state those matters that we have agreed to state to the director of Dusrolbake Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dusrolbake Limited and its director for our work or for this report.

It is your duty to ensure that Dusrolbake Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dusrolbake Limited. You consider that Dusrolbake Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Dusrolbake Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ingham & Co.
Chartered Accountants
George Stanley House
2 West Parade Road
Scarborough
North Yorkshire
YO12 5ED


19 September 2024

Dusrolbake Limited (Registered number: 00775840)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,286,370 3,333,286
Investment property 5 6,933,632 6,286,125
10,220,002 9,619,411

CURRENT ASSETS
Debtors 98,073 93,182
Cash at bank 61,035 16,909
159,108 110,091
CREDITORS
Amounts falling due within one year 8,426,910 8,275,173
NET CURRENT LIABILITIES (8,267,802 ) (8,165,082 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,952,200

1,454,329

CREDITORS
Amounts falling due after more than one
year

(1,165,112

)

(1,134,167

)

PROVISIONS FOR LIABILITIES 8 (305,082 ) (296,656 )
NET ASSETS 482,006 23,506

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 (529,784 ) (529,784 )
Retained earnings 10 1,011,690 553,190
SHAREHOLDERS' FUNDS 482,006 23,506

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Dusrolbake Limited (Registered number: 00775840)

Abridged Balance Sheet - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2024 and were signed by:





J R Goodall - Director


Dusrolbake Limited (Registered number: 00775840)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Dusrolbake Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable on investment properties, excluding value added tax.

Lease incentives are recognised evenly over the term of the lease.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold Property - 2% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

No depreciation is provided on assets in the course of construction.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Dusrolbake Limited (Registered number: 00775840)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 3,583,948
Additions 67,701
At 31 December 2023 3,651,649
DEPRECIATION
At 1 January 2023 250,662
Charge for year 114,617
At 31 December 2023 365,279
NET BOOK VALUE
At 31 December 2023 3,286,370
At 31 December 2022 3,333,286

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 30,560
At 31 December 2023 30,560
DEPRECIATION
Charge for year 7,640
At 31 December 2023 7,640
NET BOOK VALUE
At 31 December 2023 22,920

Dusrolbake Limited (Registered number: 00775840)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 6,286,125
Additions 647,507
At 31 December 2023 6,933,632
NET BOOK VALUE
At 31 December 2023 6,933,632
At 31 December 2022 6,286,125

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2021 (463,459 )
Cost 7,397,091
6,933,632

If freehold investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 7,397,091 6,749,584

Freehold investment properties were valued on an open market basis on 31 December 2023 by J R Goodall .

J R Goodall is a director of the company.

6. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 83,333 83,333

Amounts falling due between one and two years:
Bank loans - 1-2 years 1,120,833 1,104,167

Amounts falling due between two and five years:
Bank loan 20,833 30,000

Dusrolbake Limited (Registered number: 00775840)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,204,166 1,187,500

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Other timing differences 87,270 87,270
Accelerated capital allowances 231,227 276,667
Short term timing differences (13,860 ) (67,726 )
304,637 296,211

Other provisions 445 445

Aggregate amounts 305,082 296,656

Deferred
tax
£   
Balance at 1 January 2023 296,211
Charge to Income Statement during year 8,426
Balance at 31 December 2023 304,637

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2023 553,190 (529,784 ) 23,406
Profit for the year 458,500 458,500
At 31 December 2023 1,011,690 (529,784 ) 481,906

Dusrolbake Limited (Registered number: 00775840)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

11. CONTINGENT LIABILITIES

The company has entered into a legal mortgage in respect of its freehold investment properties, against bank facilities granted by the company's bankers to Dusrolbake Limited and Alvercroft Limited. The total loans and overdrawn balances of Dusrolbake Limited and Alvercroft Limited at 31 December 2023 was £2,308,332 (2022 - £2,375,000). The directors do not anticipate any claims being made under the guarantee.

12. RELATED PARTY DISCLOSURES

The Goodall Group Limited
2023 2022
£ £
Amount due to related party 7,672,864 7,273,906
The Goodall Group Limited wrote off £500,000 of the balance due from the company during the year.

Alvercroft Limited
2023 2022
£ £
Amount due to related party Nil 230,339


Yorkshire Coast Property Management Limited
2023 2022
£ £
Amount due to related party 19,575 5,767


Ipcrest Properties Limited
2023 2022
£ £
Amount due from related party 1,375 Nil



Joan Margaret Goodall's Discretionary Settlement Trust 2012
2023 2022
£ £
Amount due to related party 246,093 262,542


Joan Margaret Goodall's Discretionary Settlement Trust 2021
2023 2022
£ £
Amount due to related party 325,000 325,000

13. ULTIMATE CONTROLLING PARTY

The controlling party is The Goodall Group Limited.

The ultimate controlling party is Mrs J M Goodall, J R Goodall and AW Ingham.

Mrs J M Goodall, J R Goodall and A W Ingham control the shares in The Goodall Group Limited in their capacity as trustees of the life interest settlement for the benefit of J R Goodall.