Registered number
04993210
Dovecote View Limited
Filleted Accounts
31 May 2024
Dovecote View Limited
Registered number: 04993210
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 14,698
Tangible assets 4 871,506 867,461
871,506 882,159
Current assets
Stocks 3,000 3,000
Debtors 5 33,979 86,874
Cash at bank and in hand 130,343 75,720
167,322 165,594
Creditors: amounts falling due within one year 6 (165,486) (129,193)
Net current assets 1,836 36,401
Total assets less current liabilities 873,342 918,560
Creditors: amounts falling due after more than one year 7 (149,311) (80,217)
Net assets 724,031 838,343
Capital and reserves
Called up share capital 101 101
Profit and loss account 723,930 838,242
Shareholders' funds 724,031 838,343
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs G B Lenanton
Director
Approved by the board on 16 August 2024
Dovecote View Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 5% straight line
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 48 45
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 294,131
At 31 May 2024 294,131
Amortisation
At 1 June 2023 279,433
Provided during the year 14,698
At 31 May 2024 294,131
Net book value
At 31 May 2024 -
At 31 May 2023 14,698
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 665,071 1,158,927 159,160 1,983,158
Additions 33,302 54,944 48,148 136,394
At 31 May 2024 698,373 1,213,871 207,308 2,119,552
Depreciation
At 1 June 2023 261,609 789,438 64,650 1,115,697
Charge for the year 33,014 63,669 35,666 132,349
At 31 May 2024 294,623 853,107 100,316 1,248,046
Net book value
At 31 May 2024 403,750 360,764 106,992 871,506
At 31 May 2023 403,462 369,489 94,510 867,461
5 Debtors 2024 2023
£ £
Trade debtors 19,506 71,238
Other debtors 14,473 15,636
33,979 86,874
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,400 -
Obligations under finance lease and hire purchase contracts 21,583 19,870
Trade creditors 41,035 24,981
Taxation and social security costs 82,059 69,448
Other creditors 12,409 14,894
165,486 129,193
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 56,928 -
Obligations under finance lease and hire purchase contracts 92,383 80,217
149,311 80,217
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loan 65,328 -
The bank loan is secured by way of a fixed and floating charge over the company's assets.
9 Related party transactions 2024 2023
£ £
Mrs G B Lenanton
Director
Rent paid to the director 111,600 100,700
Dentons SIPP - Mr G C Lenanton
Director
Rent paid to pension scheme 7,200 7,200
10 Other information
Dovecote View Limited is a private company limited by shares and incorporated in England. Its registered office is:
Demar House, 14 Church Road
East Wittering
Chichester
West Sussex
PO20 8PS
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