Domatic Limited 01752932 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Investment property Digita Accounts Production Advanced 6.30.9574.0 true 01752932 2023-04-01 2024-03-31 01752932 2024-03-31 01752932 core:CurrentFinancialInstruments 2024-03-31 01752932 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 01752932 bus:SmallEntities 2023-04-01 2024-03-31 01752932 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01752932 bus:FilletedAccounts 2023-04-01 2024-03-31 01752932 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01752932 bus:RegisteredOffice 2023-04-01 2024-03-31 01752932 bus:Director1 2023-04-01 2024-03-31 01752932 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01752932 countries:EnglandWales 2023-04-01 2024-03-31 01752932 2023-03-31 01752932 2022-04-01 2023-03-31 01752932 2023-03-31 01752932 core:CurrentFinancialInstruments 2023-03-31 01752932 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 01752932

Domatic Limited

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2024

 

Domatic Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Domatic Limited

(Registration number: 01752932)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

250,000

150,000

Current assets

 

Debtors

5

5,236

-

Cash at bank and in hand

 

11,202

40

 

16,438

40

Creditors: Amounts falling due within one year

6

(68,321)

(60,880)

Net current liabilities

 

(51,883)

(60,840)

Total assets less current liabilities

 

198,117

89,160

Provisions for liabilities

(43,021)

(13,696)

Net assets

 

155,096

75,464

Capital and reserves

 

Called up share capital

100

100

Fair value reserve

182,470

111,795

Profit and loss account

(27,474)

(36,431)

Shareholders' funds

 

155,096

75,464

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

 

Domatic Limited

(Registration number: 01752932)
Statement of Financial Position as at 31 March 2024

.........................................
Mr G P Rashbrook
Director

 

Domatic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the rent received or receivable for the lease of rental property in the ordinary course of the company's activities. Turnover represents gross invoiced sales.

Rental income is recognised on a straight line basis over the lease term.

Tax

The tax expense for the period comprises 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.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

 

Domatic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment property

2024
£

At 1 April 2023

150,000

Fair value adjustments

100,000

At 31 March 2024

250,000

The investment property was valued on an open market basis on 31 March 2024 by Mr G P Rashbrook, director.

5

Debtors

2024
£

2023
£

Other debtors

4,650

-

Prepayments

586

-

5,236

-

 

Domatic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Accruals and deferred income

6,953

1,213

Other creditors

61,368

59,667

68,321

60,880

7

Related party transactions

At the year end date the directors were jointly owed £61,368 (2023 - £59,667) by the company.