Registered number
11806612
DORTGEN UK LIMITED
Filleted Accounts
31 December 2024
DORTGEN UK LIMITED
Registered number: 11806612
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Investment properties 3 8,825,000 10,655,000
Current assets
Debtors 4 (1,090) 3,729
Cash at bank and in hand 345,088 454,801
343,998 458,530
Creditors: amounts falling due within one year 5 (1,075,948) (1,397,506)
Net current liabilities (731,950) (938,976)
Total assets less current liabilities 8,093,050 9,716,024
Creditors: amounts falling due after more than one year 6 (7,928,534) (8,012,670)
Net assets 164,516 1,703,354
Capital and reserves
Called up share capital 1,000,000 1,000,000
Fair value reserve 8 (2,452,651) (622,651)
Profit and loss account 1,617,167 1,326,005
Shareholders' funds 164,516 1,703,354
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Y L Mizrahi Bardavid
Director
Approved by the board on 23 May 2025
DORTGEN UK LIMITED
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

The accounts are prepared on a going concern basis, and the company has net current liablities at the balance sheet date. The directors having reviewed the cash flow forecast for the next 12 months and repayment of the ultimate shareholders loans in January 2021. The directors are satisfied that operational cash flow will be satisfactory to meet all known current liabilities as they fall due.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rental of investment properties and ancillary property recharges.
Investment properties
Investments properties, which are held to earn rental income and/or capital appreciation are stated at their fair valuation at the balance sheet date. The properties are revalued annually by the directors or external professional valuers. The aggregate surplus or deficit is recognised in the income statement. No depreciation is provide in regard of investment properties. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investment properties
Land and buildings
£
Cost
At 1 January 2024 10,655,000
Loss on revaluation of investment properties (1,830,000)
At 31 December 2024 8,825,000
Depreciation
At 31 December 2024 -
Net book value
At 31 December 2024 8,825,000
At 31 December 2023 10,655,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 11,277,651 11,277,651
Cumulative depreciation based on historical cost - -
11,277,651 11,277,651
The investment properties were valued at 31 December 2024 and 31 December 2023 by the directors. The valuations were prepared by considering the aggregate of the net rents receivable from the properties and where relevant associated costs. A yield which reflects the specific risks inherent in the net cash flows is then applied to arrive at the property valuations.
4 Debtors 2024 2023
£ £
Trade debtors (15,182) (23,432)
Other debtors 14,092 27,161
(1,090) 3,729
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans (secured) 134,136 729,218
Trade creditors 225 12,052
Taxation and social security costs 137,732 109,218
Other creditors 803,855 547,018
1,075,948 1,397,506
Other creditors includes accrued interest to shareholders and ultimate shareholders of £674,707 (2023:
£ 381,356).
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans (secured) 578,534 712,670
Amounts owed to parent undertaking 7,350,000 6,000,000
Other creditors - 1,300,000
7,928,534 8,012,670
The amount due to parent undertaking bears interest at a rate of 7% per annum and is repayable by
December 2026.
Other creditors of £Nil (2023: £1.300,000) includes loans from directors and shareholders with
interest bearing a rate of 7% per annum. £1,000,000 of the shareholder loan was repaid early in 2024
and the remainder other loans of £300,000 are due for repayment by December 2025.
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 712,670 1,441,888
At 31 December 2024,the bank lender has a first charge over the property assets held in Castle Donnington, Dewsbury
Dewsbury, and Middlesbrough. The loan bears interest at 3.5% over UK Base Rate. The bank loan secured
over Nottingham was repaid during 2024.
8 Fair value reserve 2024 2023
£ £
At 1 January 2024 622,651 (87,349)
Fair value loss on investment properties 1,830,000 710,000
At 31 December 2024 2,452,651 622,651
9 Contingent liabilities
A long leasehold interest is accounted for as an investment property and has a contingent rent
liability attached. The rent payable charged to profit and loss account in the period was £28,000
(2023: £28,000). Future rents payable from the current non-cancellable lease with the tenant are
£19,000 (2023: £47,000) over the remainder of the lease term.
10 Controlling party
At the balance sheet date, the parent company is MIM (Mizrahi Investments Malta) Limited, a company incorporated in Malta. Its registered office is 93 Mill Street, Zone 5, Central Business District, Qormi, Malta. In the opinion of the directors, the ultimate controlling party of the company is Y L Mizrahi Bardavid by virtue of his majority shareholding in the parent undertaking.
11 Other information
DORTGEN UK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Building 3, North London Business Park
New Southgate
London
N11 1GN
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