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Company No: 12503307 (England and Wales)

DORSET PROPERTY INVESTMENTS LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

DORSET PROPERTY INVESTMENTS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

DORSET PROPERTY INVESTMENTS LTD

BALANCE SHEET

As at 31 March 2024
DORSET PROPERTY INVESTMENTS LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,164 4,219
Investment property 4 1,333,381 825,940
1,336,545 830,159
Current assets
Debtors 5 0 196
Cash at bank and in hand 1,211 1,520
1,211 1,716
Creditors: amounts falling due within one year 6 ( 692,706) ( 186,156)
Net current liabilities (691,495) (184,440)
Total assets less current liabilities 645,050 645,719
Creditors: amounts falling due after more than one year 7 ( 737,208) ( 713,685)
Provision for liabilities ( 602) ( 802)
Net liabilities ( 92,760) ( 68,768)
Capital and reserves
Called-up share capital 4 4
Profit and loss account ( 92,764 ) ( 68,772 )
Total shareholders' deficit ( 92,760) ( 68,768)

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 financial statements of Dorset Property Investments Ltd (registered number: 12503307) were approved and authorised for issue by the Board of Directors on 20 November 2024. They were signed on its behalf by:

A J Smith
Director
DORSET PROPERTY INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
DORSET PROPERTY INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dorset Property Investments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 16 Mill Hill Close, Poole, BH14 8RL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £92,760. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is comprised of rents receivable.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 10,000 10,000
At 31 March 2024 10,000 10,000
Accumulated depreciation
At 01 April 2023 5,781 5,781
Charge for the financial year 1,055 1,055
At 31 March 2024 6,836 6,836
Net book value
At 31 March 2024 3,164 3,164
At 31 March 2023 4,219 4,219

4. Investment property

Investment property
£
Valuation
As at 01 April 2023 825,940
Additions 507,441
As at 31 March 2024 1,333,381

5. Debtors

2024 2023
£ £
Other debtors 0 196

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 810 3,770
Other creditors 691,896 182,386
692,706 186,156

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 517,685 517,685
Amounts owed to connected companies 219,523 196,000
737,208 713,685

The bank loan is secured by a first charge over the freehold investment property owned by the company and personal guarantees from the directors of the company. The bank loan is interest only with the capital repayable in 2045. Interest is charged at a fixed rate of interest of 3.39% pa for the first five years, followed by a variable rate of interest of 5.24% pa above the Bank of England Base Rate.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (secured) 517,685 517,685