REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
Dibbin Estates & Equipment Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
Dibbin Estates & Equipment Limited |
Dibbin Estates & Equipment Limited (Registered number: 07231274) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Dibbin Estates & Equipment Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
3 Kingfisher Court |
Bowesfield Park |
Stockton on Tees |
TS18 3EX |
Dibbin Estates & Equipment Limited (Registered number: 07231274) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks | 4 |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Dibbin Estates & Equipment Limited (Registered number: 07231274) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Dibbin Estates & Equipment 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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. |
Turnover |
Turnover represents the sale of land, plant and equipment excluding value added tax. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Tax |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses. |
Dibbin Estates & Equipment Limited (Registered number: 07231274) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | STOCKS |
2023 | 2022 |
£ | £ |
Plant and equipment |
Land for resale |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
VAT | 1,121 | 36 |
Other creditors |
Amounts due to related parties | 114,232 | 122,100 |
Accrued expenses |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Dibbin Estates & Equipment Limited (Registered number: 07231274) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
9. | RELATED PARTY DISCLOSURES |
During the year the company undertook transactions with various related parties, and/or provided or received funds to assist or to be assisted with working capital requirements as detailed below: |
Group companies |
2023 | 2022 |
£ | £ |
Management charges incurred by Dibbin Estates & Equipment Limited | 84,743 | 77,839 |
Sales made by Dibbin Estates & Equipment Limited to group companies | - | 83,469 |
Total amount owed to Dibbin Estates & Equipment Limited at the year end | 98,444 | 98,444 |
Other related parties - common control |
2023 | 2022 |
£ | £ |
Management charges incurred by Dibbin Estates & Equipment Limited | 25,000 | 40,700 |
Sales made by Dibbin Estates & Equipment Limited to related companies | 27,390 | - |
Total amount owed by Dibbin Estates & Equipment Limited at the year end | 114,232 | 122,100 |
Included in Other Creditors is an amount of £50,957 (2022: £31,930) due to a related party individual. No interest has been charged on this balance. |
10. | ULTIMATE HOLDING COMPANY |
The ultimate holding company is Newfuturevest II LLC and is incorporated in United States of America. It's registered office is 17A Marlen Drive, Trenton, New Jersey, 08691, United States of America. |