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Registered number: 13417456
Dow Commercial Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of Dow Commercial Ltd for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Dow Commercial Ltd for the year ended 31 May 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Dow Commercial Ltd , as a body, in accordance with the terms of our engagement letter dated 22 November 2023. Our work has been undertaken solely to prepare for your approval the accounts of Dow Commercial Ltd and state those matters that we have agreed to state to the director of Dow Commercial Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dow Commercial Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that Dow Commercial Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Dow Commercial Ltd . You consider that Dow Commercial Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Dow Commercial Ltd . 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 financial statements.
Signed
ERC Accountants and Business Advisers Limited
24 October 2024
ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 1
Page 2
Balance Sheet
Registered number: 13417456
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 624 1,020
624 1,020
CURRENT ASSETS
Debtors 5 7,724 13,997
Cash at bank and in hand 22,467 24,158
30,191 38,155
Creditors: Amounts Falling Due Within One Year 6 (14,049 ) (27,793 )
NET CURRENT ASSETS (LIABILITIES) 16,142 10,362
TOTAL ASSETS LESS CURRENT LIABILITIES 16,766 11,382
PROVISIONS FOR LIABILITIES
Deferred Taxation (156 ) (194 )
NET ASSETS 16,610 11,188
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 16,609 11,187
SHAREHOLDERS' FUNDS 16,610 11,188
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J Dowling
Director
24 October 2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Dow Commercial Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13417456 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer equipment 33% - Straight line
2.4. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Computer equipment
£
Cost
As at 1 June 2023 1,200
As at 31 May 2024 1,200
Depreciation
As at 1 June 2023 180
Provided during the period 396
As at 31 May 2024 576
Net Book Value
As at 31 May 2024 624
As at 1 June 2023 1,020
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,034 7,394
Prepayments and accrued income 690 603
Other debtors 2,000 6,000
7,724 13,997
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 -
Corporation tax 7,298 10,584
VAT 2,738 3,937
Accruals and deferred income 1,282 -
Director's loan account 2,730 13,272
14,049 27,793
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 7,740 -
Later than one year and not later than five years 6,450 -
14,190 -
9. Related Party Transactions
The following related party transactions were undertaken during the year:
The director introduced amounts totalling £11,187, withdrew amounts totalling £47,359 and was issued dividends of £25,000. At the balance sheet date the company owed the director £2,730 (2023: £13,272)
A company under common control was loaned amounts totalling £11,000 and repaid amounts totalling £15,000. At the balance sheet date the company under common control owed Dow Commercial Ltd £2,000 (2023: £6,000)
Dividends were paid to the directors in respect of their shareholdings totalling £25,000 (2023: £38,000).
The aggregate remuneration paid to key management personnel for the year was £6,825 (2023: £9,096).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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