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Company No: 12869058 (England and Wales)

DORSET DIGS LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

DORSET DIGS LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

DORSET DIGS LTD

BALANCE SHEET

As at 30 September 2024
DORSET DIGS LTD

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 39,670 35,143
39,670 35,143
Current assets
Debtors 4 27,351 35,270
Cash at bank and in hand 296,193 312,380
323,544 347,650
Creditors: amounts falling due within one year 5 ( 188,888) ( 68,216)
Net current assets 134,656 279,434
Total assets less current liabilities 174,326 314,577
Net assets 174,326 314,577
Capital and reserves
Called-up share capital 6 200 200
Profit and loss account 174,126 314,377
Total shareholders' funds 174,326 314,577

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Dorset Digs Ltd (registered number: 12869058) were approved and authorised for issue by the Board of Directors on 17 March 2025. They were signed on its behalf by:

D N Bishop
Director
DORSET DIGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
DORSET DIGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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 Digs 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 39 Mudeford, Christchurch, England, BH23 3NQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

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.

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:

Leasehold improvements 20 % reducing balance
Plant and machinery 25 % reducing balance
Vehicles 20 % reducing balance
Computer equipment 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 Statement of Income and Retained Earnings as described below.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 6

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Computer equipment Total
£ £ £ £ £
Cost
At 01 October 2023 35,350 4,542 0 7,191 47,083
Additions 900 0 8,000 8,559 17,459
Disposals 0 0 0 ( 4,914) ( 4,914)
At 30 September 2024 36,250 4,542 8,000 10,836 59,628
Accumulated depreciation
At 01 October 2023 8,504 1,426 0 2,010 11,940
Charge for the financial year 5,489 779 1,467 2,699 10,434
Disposals 0 0 0 ( 2,416) ( 2,416)
At 30 September 2024 13,993 2,205 1,467 2,293 19,958
Net book value
At 30 September 2024 22,257 2,337 6,533 8,543 39,670
At 30 September 2023 26,846 3,116 0 5,181 35,143

4. Debtors

2024 2023
£ £
Trade debtors 27,351 35,053
Other debtors 0 217
27,351 35,270

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 6 23
Corporation tax 52,230 50,794
Other taxation and social security 7,712 10,200
Other creditors 128,940 7,199
188,888 68,216

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100
100 Ordinary A shares of £ 1.00 each 100 100
200 200