Company registration number 09326245 (England and Wales)
Dutton Commercial Services Limited
Unaudited financial statements
For the year ended 30 April 2024
Dutton Commercial Services Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Dutton Commercial Services Limited
Statement of financial position
As at 30 April 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
2
4,577,203
4,618,485
Investments
3
100
-
0
4,577,303
4,618,485
Current assets
Debtors
4
366,910
15,871
Cash at bank and in hand
327,841
91,086
694,751
106,957
Creditors: amounts falling due within one year
5
(2,212,580)
(1,750,772)
Net current liabilities
(1,517,829)
(1,643,815)
Total assets less current liabilities
3,059,474
2,974,670
Creditors: amounts falling due after more than one year
6
(2,183,224)
(2,246,542)
Net assets
876,250
728,128
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
876,150
728,028
Total equity
876,250
728,128
Dutton Commercial Services Limited
Statement of financial position (continued)
As at 30 April 2024
30 April 2024
- 2 -

For the financial year ended 30 April 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 24 January 2025
Mr R M Dutton
Director
Company registration number 09326245 (England and Wales)
Dutton Commercial Services Limited
Notes to the financial statements
For the year ended 30 April 2024
- 3 -
1
Accounting policies
Company information

Dutton Commercial Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Brooks Lane, Middlewich, Cheshire, England, CW10 0JH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dutton Commercial Services Limited
Notes to the financial statements (continued)
For the year ended 30 April 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.9

Critical Accounting Judgements and Key Sources of Estimation Uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are set out below:

 

 

Investment property valuation

Dutton Commercial Services Limited
Notes to the financial statements (continued)
For the year ended 30 April 2024
- 5 -
2
Investment property
2024
£
Fair value
At 1 May 2023
4,618,485
Additions
216,439
Disposals
(257,721)
At 30 April 2024
4,577,203
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
-
0
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 May 2023
-
Additions
100
At 30 April 2024
100
Carrying amount
At 30 April 2024
100
At 30 April 2023
-
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
13,048
Amounts owed by group undertakings
141,371
-
0
Other debtors
225,539
2,823
366,910
15,871
Dutton Commercial Services Limited
Notes to the financial statements (continued)
For the year ended 30 April 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
63,318
56,167
Trade creditors
26,811
11,267
Amounts owed to group undertakings
1,985,711
1,553,659
Taxation and social security
119,043
65,743
Other creditors
17,697
63,936
2,212,580
1,750,772
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
2,183,224
2,246,542

The following secured debts are included within bank loans under and over 1 year:

 

Bank loans 2024 £2,246,542 (2023 - £2,302,708)

 

The bank loan is secured by a fixed and floating charge against all assets, present and future, of the company.

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
1,858,437
1,901,006
7
Directors' transactions

Dividends totalling £0 (2023 - £0) were paid in the year in respect of shares held by the company's directors.

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Directors Loan Account
2.25
-
426,222
6,672
(229,283)
203,611
-
426,222
6,672
(229,283)
203,611
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