Company registration number 02448056 (England and Wales)
MIKE DOBSON (ESTATE AGENTS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
MIKE DOBSON (ESTATE AGENTS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
MIKE DOBSON (ESTATE AGENTS) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
1
1
Tangible assets
5
104,555
109,885
104,556
109,886
Current assets
Debtors
6
173,253
149,220
Cash at bank and in hand
266,551
22,534
439,804
171,754
Creditors: amounts falling due within one year
7
(418,646)
(195,735)
Net current assets/(liabilities)
21,158
(23,981)
Total assets less current liabilities
125,714
85,905
Creditors: amounts falling due after more than one year
8
(50,520)
(64,103)
Provisions for liabilities
(2,836)
Net assets
72,358
21,802
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
72,158
21,602
Total equity
72,358
21,802
MIKE DOBSON (ESTATE AGENTS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -
For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 7 July 2025 and are signed on its behalf by:
Mr M J Dobson
Director
Company registration number 02448056 (England and Wales)
MIKE DOBSON (ESTATE AGENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information
Mike Dobson (Estate Agents) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Main Street, Garforth, Leeds, West Yorkshire, LS25 1EZ.
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
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which shall not exceed 10 years if a reliable estimate of the useful life cannot be made.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.4
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.
MIKE DOBSON (ESTATE AGENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
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:
Freehold property
2% on cost
Fixtures and fittings
15% on reducing balance
Computers
20% 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
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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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 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 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.
MIKE DOBSON (ESTATE AGENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8
Equity instruments
Equity instruments (such as ordinary shares) issued by the company are recorded at the proceeds received, net of transaction costs. Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared
1.9
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 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. 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. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
MIKE DOBSON (ESTATE AGENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 6 -
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
10
10
4
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2024 and 30 April 2025
37,646
Amortisation and impairment
At 1 May 2024 and 30 April 2025
37,645
Carrying amount
At 30 April 2025
1
At 30 April 2024
1
MIKE DOBSON (ESTATE AGENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 7 -
5
Tangible fixed assets
Freehold property
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 May 2024 and 30 April 2025
135,718
170,469
20,306
326,493
Depreciation and impairment
At 1 May 2024
42,160
154,570
19,878
216,608
Depreciation charged in the year
2,715
2,402
213
5,330
At 30 April 2025
44,875
156,972
20,091
221,938
Carrying amount
At 30 April 2025
90,843
13,497
215
104,555
At 30 April 2024
93,558
15,899
428
109,885
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
16,755
15,714
Amounts owed by group undertakings
150,737
100,737
Other debtors
29,638
Prepayments and accrued income
5,761
3,131
173,253
149,220
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
13,619
13,619
Trade creditors
5,365
1,620
Amounts owed to group undertakings
351,627
145,990
Corporation tax
18,679
Other taxation and social security
20,953
22,860
Other creditors
3,457
Accruals and deferred income
4,946
11,646
418,646
195,735
Creditors include bank loans of £3,619 (2024: £3,619) which are secured on the assets to which they relate.
MIKE DOBSON (ESTATE AGENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
8
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
50,520
64,103
Creditors include bank loans of £44,687 (2024: £48,270) which are secured on the assets to which they relate.
Included in the above creditor is £26,595 (2024: £30,177) in respect of a bank loan which is repayable by instalment and due for repayment in more than 5 years.
9
Related party transactions
Summary of transactions with parent undertaking
MJD Property Group Limited
(The registered office of the above company is 12,Greenhead Road, Huddersfield, HD1 4EN).
The company advanced loans of £50,000 (2024: £285) to its parent undertaking and was repaid £Nil (2024: £29,569) during the year. At the balance sheet date the amount due from MJD Property Group Limited was £150,737 (2024: £100,737).
10
Summary of transactions with other related parties
Mike Dobson Property Management Limited (a fellow subsidiary group undertaking)
During the year the company was provided with professional services on a commercial basis of £12,000 (2024: £12,000) to Mike Dobson (Estate Agents) Limited and charged £6,700 (2024: £6,700) premises costs and £4,834 (2024: £5,387) motor vehicle leasing costs to the same company. The company was advanced loans of £207,625 (2024: £86,401) to Mike Dobson (Estate Agents) Limited and was repaid £Nil (2024: £39,567). At the balance sheet date the amount due from Mike Dobson (Estate Agents ) Limited was £351,627 (2024: £145,990).
11
Director's transactions
Included in debtors is an amount owed by the director of £Nil (2024: £29,638). The amount owed at the start of the year was £29,638 and the maximum outstanding during the year was £29,638. The loan is repayable on demand and interest has been charged at HMRC's official rate.
12
Ultimate controlling party
The ultimate controlling party of the company is M J Dobson.