DWBP Limited 07471109 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is that of an investment company. Digita Accounts Production Advanced 6.30.9574.0 true 07471109 2023-08-01 2024-07-31 07471109 2024-07-31 07471109 core:RetainedEarningsAccumulatedLosses 2024-07-31 07471109 core:RevaluationReserve 2024-07-31 07471109 core:ShareCapital 2024-07-31 07471109 core:FinancialAssetsAmortisedCost core:CurrentFinancialInstruments 2024-07-31 07471109 core:CurrentFinancialInstruments 2024-07-31 07471109 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 07471109 core:FurnitureFittingsToolsEquipment 2024-07-31 07471109 core:LandBuildings 2024-07-31 07471109 core:MotorVehicles 2024-07-31 07471109 bus:SmallEntities 2023-08-01 2024-07-31 07471109 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 07471109 bus:FilletedAccounts 2023-08-01 2024-07-31 07471109 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 07471109 bus:RegisteredOffice 2023-08-01 2024-07-31 07471109 bus:Director3 2023-08-01 2024-07-31 07471109 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07471109 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 07471109 core:LandBuildings 2023-08-01 2024-07-31 07471109 core:MotorVehicles 2023-08-01 2024-07-31 07471109 countries:EnglandWales 2023-08-01 2024-07-31 07471109 2023-07-31 07471109 core:FurnitureFittingsToolsEquipment 2023-07-31 07471109 core:LandBuildings 2023-07-31 07471109 core:MotorVehicles 2023-07-31 07471109 2022-08-01 2023-07-31 07471109 2023-07-31 07471109 core:RetainedEarningsAccumulatedLosses 2023-07-31 07471109 core:RevaluationReserve 2023-07-31 07471109 core:ShareCapital 2023-07-31 07471109 core:CurrentFinancialInstruments 2023-07-31 07471109 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 07471109 core:FurnitureFittingsToolsEquipment 2023-07-31 07471109 core:LandBuildings 2023-07-31 07471109 core:MotorVehicles 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 07471109

DWBP Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

DWBP Limited

(Registration number: 07471109)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

259,059

262,078

Investment property

5

1,350,000

1,350,000

 

1,609,059

1,612,078

Current assets

 

Debtors

7

160

2,570

Other financial assets

6

416,639

513,365

Cash at bank and in hand

 

2,815

14,619

 

419,614

530,554

Creditors: Amounts falling due within one year

8

(6,428)

(19,812)

Net current assets

 

413,186

510,742

Total assets less current liabilities

 

2,022,245

2,122,820

Provisions for liabilities

(1,721)

(2,224)

Net assets

 

2,020,524

2,120,596

Capital and reserves

 

Called up share capital

510

510

Revaluation reserve

335,278

335,278

Retained earnings

1,684,736

1,784,808

Shareholders' funds

 

2,020,524

2,120,596

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

Director's 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 director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

DWBP Limited

(Registration number: 07471109)
Balance Sheet as at 31 July 2024

Approved and authorised by the director on 29 November 2024
 

.........................................
Mr TJ Hoyle
Director

 

DWBP Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
September House
The Drive
Ifold
Loxwood, Billinghurst
West Sussex
RH14 0TD

These financial statements were authorised for issue by the director on 29 November 2024.

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.

Judgements

The company may be required to make estimates and assumptions concerning the future. These estimates and judgements are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The resulting accounting estimates will, by definition, seldom equal the related actual results. The principal areas where judgement was exercised are as follows:

i) Tangible fixed assets: the directors annually assess both the residual value of these assets and the expected useful life of such assets based on experience.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

DWBP Limited

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

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% on cost

Motor vehicles

33% on reducing balance basis

Investment property

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

DWBP Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

 

DWBP Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

250,000

455

23,357

273,812

At 31 July 2024

250,000

455

23,357

273,812

Depreciation

At 1 August 2023

-

114

11,620

11,734

Charge for the year

-

85

2,934

3,019

At 31 July 2024

-

199

14,554

14,753

Carrying amount

At 31 July 2024

250,000

256

8,803

259,059

At 31 July 2023

250,000

341

11,737

262,078

Included within the net book value of land and buildings above is £250,000 (2023 - £250,000) in respect of freehold land and buildings.
 

5

Investment properties

2024
£

At 1 August

1,350,000

At 31 July

1,350,000

There has been no valuation of investment property by an independent valuer.

 

DWBP Limited

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

6

Other financial assets (current and non-current)

Financial assets at amortised cost
£

Total
£

Current financial assets

Cost or valuation

At 1 August 2023

513,365

513,365

Disposals

(96,726)

(96,726)

At 31 July 2024

416,639

416,639

Impairment

Carrying amount

At 31 July 2024

416,639

416,639

7

Debtors

2024
£

2023
£

Other debtors

160

2,570

160

2,570

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

4,580

18,097

Accruals and deferred income

 

1,848

1,715

 

6,428

19,812

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

4,580

18,097