Company registration number 03724578 (England and Wales)
DOCK AND LET LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
DOCK AND LET LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
DOCK AND LET LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
77,749
106,030
Investment property
5
1,661,062
1,661,062
Investments
6
4,134,648
4,184,837
5,873,459
5,951,929
Current assets
Stocks
1,949,687
1,949,687
Debtors
7
380,012
363,578
Investments
8
704,004
1,139,149
Cash at bank and in hand
9,998
77,961
3,043,701
3,530,375
Creditors: amounts falling due within one year
9
(2,629,383)
(3,179,469)
Net current assets
414,318
350,906
Total assets less current liabilities
6,287,777
6,302,835
Creditors: amounts falling due after more than one year
10
(5,329,939)
(5,338,065)
Provisions for liabilities
11
(44,646)
(44,646)
Net assets
913,192
920,124
Capital and reserves
Called up share capital
12
255
255
Share premium account
252,747
252,747
Profit and loss reserves
13
660,190
667,122
Total equity
913,192
920,124

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

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.

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.

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

DOCK AND LET LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 18 March 2025
Michael Docker
Director
Company registration number 03724578 (England and Wales)
DOCK AND LET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Dock and Let Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

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 certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for properties sold. Income is recognised in the period to which it relates.

 

There was no turnover in the year.

1.3
Intangible fixed assets - goodwill

The company acquired goodwill of £1 in a previous year which has been fully amortised.

1.4
Tangible fixed assets

Tangible fixed assets are measured at cost, 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:

Motor vehicles
25% on cost

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.

1.5
Investment properties

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. The surplus or deficit on revaluation is recognised in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

DOCK AND LET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.8
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 balance sheet 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. 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 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.

 

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.

1.9
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.

1.10
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 profit and loss account 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

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

DOCK AND LET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.11

Retirement benefits

The company provided pension benefits (defined contribution) in respect of a director. Amounts payable are charged to the profit and loss account in the period when the contracts are entered into between the company and the director.

 

Under the terms of the pension contracts entered into with the director, fixed sums are provided for now in order to provide pension benefits to the individual upon his retirement.

 

The director considers that the pension arrangement most closely reflects the characteristics of a defined contribution scheme as the company's contributions are fixed until the point of retirement. Further information can be found in note 11 to the financial statements.

2
Employees

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

2024
2023
Number
Number
Total
4
4
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
1
Amortisation and impairment
At 1 April 2023 and 31 March 2024
1
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
-
0
DOCK AND LET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2023 and 31 March 2024
113,125
Depreciation and impairment
At 1 April 2023
7,095
Depreciation charged in the year
28,281
At 31 March 2024
35,376
Carrying amount
At 31 March 2024
77,749
At 31 March 2023
106,030

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2024
2023
£
£
Motor vehicles
77,361
105,492
77,361
105,492
Depreciation charge for the year in respect of leased assets
28,131
27,546
5
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
1,661,062

In the opinion of the director, the fair value of the investment property is not materially different to the carrying value in the accounts as at the balance sheet date.

The historical cost of the investment properties as at the balance sheet date is £1,289,597 (2023: £1,289,597).

DOCK AND LET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
6
Fixed asset investments
2024
2023
£
£
Other investments other than loans
4,134,648
4,184,837
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
4,184,837
Movements
(50,189)
At 31 March 2024
4,134,648
Carrying amount
At 31 March 2024
4,134,648
At 31 March 2023
4,184,837

The fixed asset investments represent the company's capital account in Gracewood Group LLP as at the balance sheet date and includes an allocation of profit for the year of £221,119 (2023: £172,441).

7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
2,133
2,133
Other debtors
377,879
361,445
380,012
363,578
8
Current asset investments
2024
2023
£
£
Listed investments
704,004
1,139,149

The current asset investments are measured at fair value.

DOCK AND LET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
9
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
720,008
Trade creditors
4,764
3,712
Amounts owed to group undertakings
106,438
107,438
Taxation and social security
9,107
8,807
Other creditors
2,509,074
2,339,504
2,629,383
3,179,469
10
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
779,058
779,056
Other creditors
4,550,881
4,559,009
5,329,939
5,338,065

The bank loans are secured on certain specified assets held by the company including the current asset investments and investment properties held by entities connected with the director.

 

Hire purchase liabilities are secured against the assets to which they relate.

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable other than by instalments
779,058
541,674
11
Provisions for liabilities
2024
2023
£
£
Pension obligations
44,646
44,646
DOCK AND LET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11
Provisions for liabilities
(Continued)
- 9 -

The company provided pension benefits in respect of a director. Amounts payable are charged to the profit and loss account in the period when the contracts are entered into between the company and the director.

 

The contributions and potential liabilities of the company in respect of the pension agreements are fixed at least until the date of retirement of the director.

 

Although under section 28 of FRS 102 this pension arrangement is regarded as being a defined benefit scheme, the directors are of the opinion that it does not bear any of the hallmarks of what is usually considered to be a defined benefit scheme and therefore no further disclosures are considered necessary in order to understand the nature and measurement of the liability.

 

The directors are of the opinion that the liability as disclosed in the financial statements represents the full and final amount which could be expected, at this stage, to be paid in the future to settle the pension agreement liabilities.

12
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
2
2
2
2
Preferred Ordinary Shares of £1 each
253
253
253
253
255
255
255
255
13
Profit and loss reserves

Included within profit and loss account reserves are non-distributable reserves of £371,465 (2023: £371,465) in respect of fair value adjustments on investment properties and £88,001 (2023: £244) in respect of fair value adjustments on current asset investments.

 

Included within the profit and loss account reserves is an amount of £334,474 (2023: £314,214) in respect of the Preferred Ordinary Shares reserve in accordance with the Articles of Association.

14
Related party transactions

The investment properties are managed by a managing agent company which is controlled by Mr Docker. During the year this company charged £6,114 (2023: £6,098) to Dock and Let Limited in respect of letting and management fees in the normal course of its trade.

 

Included within debtors is £354,167 (2023: £323,741) due from companies in which Mr and Mrs Docker have an interest.

 

Included within creditors is £47,519 (2023: £21,927) due to a limited liability partnership in which Mr and Mrs Docker are members.

 

Included within creditors is £1,190,118 (2023: £1,190,666) due to companies in which Mr and Mrs Docker have an interest.

15
Parent company

Dock and Let Limited is a wholly owned subsidiary of Elektron Tower 3 Limited, whose registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

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