Company Registration No. 12512238 (England and Wales)
DORNEL MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
DORNEL MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
DORNEL MANAGEMENT LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
93,200
-
0
Investments
4
66,200
-
0
159,400
-
0
Current assets
Debtors
5
1,022,645
897,293
Cash at bank and in hand
729,824
4,761
1,752,469
902,054
Creditors: amounts falling due within one year
6
(1,251,529)
(245,137)
Net current assets
500,940
656,917
Total assets less current liabilities
660,340
656,917
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
660,339
656,916
Total equity
660,340
656,917

The directors of the company have 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 23 April 2025 and are signed on its behalf by:
T Nelson
Director
Company Registration No. 12512238
DORNEL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Dornel Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.

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
Tangible fixed assets

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

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

Motor vehicles
20% Reducing balance
1.3
Fixed asset investments

Interests in unlisted investments 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.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets, includes cash in hand and deposits held at call with banks.

1.6
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.

DORNEL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
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.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors that are classified as debt, 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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.8
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 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.

2
Employees

There were no employees during current or previous year.

DORNEL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2023
-
0
Additions
99,000
At 31 March 2024
99,000
Depreciation and impairment
At 1 April 2023
-
0
Depreciation charged in the year
5,800
At 31 March 2024
5,800
Carrying amount
At 31 March 2024
93,200
At 31 March 2023
-
0
4
Fixed asset investments
2024
2023
£
£
Unlisted investments
66,200
-
0

The investment represents purchase of watches. They are stored in a vault and are held for appreciation purposes. The investment is stated at cost. The director considers this represents the fair value of the investment at the year end.

Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 April 2023
-
Additions
66,200
At 31 March 2024
66,200
Carrying amount
At 31 March 2024
66,200
At 31 March 2023
-
DORNEL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
4,826
Corporation tax recoverable
100,223
79,330
Other debtors
922,422
813,137
1,022,645
897,293

 

6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
-
0
235,444
Other creditors
1,247,529
-
0
Accruals
4,000
9,693
1,251,529
245,137

Other creditors represents an amount of £1,247,529 (2023: £812,721 debtor) due to one director of the company and it is payable on demand.

7
Related party transactions

At the period end, an amount of £910,102 (2023: £Nil) due from RLN Property Ltd, a company under common control.

 

At the period end, an amount of £2,000 (2023: £Nil) due from BeSecure24 Ltd, a company under common control.

 

At the period end, an amount of £170 (2023: £Nil) due from The Reiss Nelson CIC, a company under common control.

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