Company registration number 04442471 (England and Wales)
Doveys Properties Limited
Unaudited financial statements
For the year ended 31 May 2024
Doveys Properties Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
Doveys Properties Limited
Statement of financial position
As at 31 May 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,492
-
0
Investment property
4
390,000
510,000
Investments
5
139,533
222,733
542,025
732,733
Current assets
Stocks
-
18,400
Debtors
6
376,008
286,996
Cash at bank and in hand
88,794
17,044
464,802
322,440
Creditors: amounts falling due within one year
7
(33,297)
(28,556)
Net current assets
431,505
293,884
Total assets less current liabilities
973,530
1,026,617
Creditors: amounts falling due after more than one year
8
(11,000)
(46,757)
Provisions for liabilities
(20,580)
(7,484)
Net assets
941,950
972,376
Capital and reserves
Called up share capital
9
200
200
Profit and loss reserves
941,750
972,176
Total equity
941,950
972,376
Doveys Properties Limited
Statement of financial position (continued)
As at 31 May 2024
31 May 2024
- 2 -

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

The members have 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 5 March 2025
Mr C Dovey
Director
Company registration number 04442471 (England and Wales)
Doveys Properties Limited
Notes to the financial statements
For the year ended 31 May 2024
- 3 -
1
Accounting policies
Company information

Doveys Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Alvaston Business Park, Middlewich Road, Nantwich, Cheshire, CW5 6PF.

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, modified to include investment properties and at fair value. The principal accounting policies adopted are set out below.

 

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rent and services provided in the normal course of business.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
- over 5 to 10 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Doveys Properties Limited
Notes to the financial statements (continued)
For the year ended 31 May 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments

Interests in subsidiaries 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.

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

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
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.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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.

Doveys Properties Limited
Notes to the financial statements (continued)
For the year ended 31 May 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023
7,537
Additions
13,884
At 31 May 2024
21,421
Depreciation and impairment
At 1 June 2023
7,537
Depreciation charged in the year
1,392
At 31 May 2024
8,929
Carrying amount
At 31 May 2024
12,492
At 31 May 2023
-
0
4
Investment property
2024
£
Fair value
At 1 June 2023
510,000
Disposals
(180,000)
Revaluations
60,000
At 31 May 2024
390,000

The fair value of investment property was measured by the director as at 31 May 2024 on an open market basis.

Doveys Properties Limited
Notes to the financial statements (continued)
For the year ended 31 May 2024
- 6 -
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
Loans to group undertakings and participating interests
124,434
207,634
Other investments other than loans
14,999
14,999
139,533
222,733
Movements in fixed asset investments
Shares in subsidiaries
Loans to subsidiaries
Other investments
Total
£
£
£
£
Cost or valuation
At 1 June 2023
100
207,634
14,999
222,733
Repayments
-
(83,200)
-
(83,200)
At 31 May 2024
100
124,434
14,999
139,533
Carrying amount
At 31 May 2024
100
124,434
14,999
139,533
At 31 May 2023
100
207,634
14,999
222,733
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1
461
Other debtors
359,858
268,886
359,859
269,347
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
16,149
17,649
Total debtors
376,008
286,996
Doveys Properties Limited
Notes to the financial statements (continued)
For the year ended 31 May 2024
- 7 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
11,000
13,301
Trade creditors
-
0
2,850
Taxation and social security
15,638
9,130
Other creditors
6,659
3,275
33,297
28,556
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,000
46,757
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
200
200
200
200
10
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan
2.25
215,031
136,209
5,402
(94,400)
262,242
215,031
136,209
5,402
(94,400)
262,242
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