Registration number:
Dovelight By The Sea Limited
for the Year Ended 31 October 2024
Dovelight By The Sea Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Dovelight By The Sea Limited
Company Information
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Director |
Mrs Morag Whitelaw |
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Registered office |
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Accountants |
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Dovelight By The Sea Limited
for the Year Ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dovelight By The Sea Limited for the year ended 31 October 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com.
This report is made solely to the Board of Directors of Dovelight By The Sea Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Dovelight By The Sea Limited and state those matters that we have agreed to state to the Board of Directors of Dovelight By The Sea Limited, as a body, in this report in accordance with the requirements of The Institute of Chartered Accountants of Scotland as detailed at www.icas.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dovelight By The Sea Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Dovelight By The Sea Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Dovelight By The Sea Limited. You consider that Dovelight By The Sea Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Dovelight By The Sea Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Bathgate
West Lothian
EH48 2UP
Dovelight By The Sea Limited
(Registration number: SC565645)
Balance Sheet as at 31 October 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,570,000 |
1,570,000 |
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Retained earnings |
(126,461) |
(110,201) |
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Shareholders' funds |
1,443,539 |
1,459,799 |
For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Dovelight By The Sea Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
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General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis. The director has assessed the company's ability to continue as a going concern and has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Fixtures and fittings |
15% reducing balance |
Investments
Investments in equity shares are measured at cost less impairment.
Dovelight By The Sea Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date.
Trade creditors are recognised at the transaction price.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
Recognition and measurement
Loans received from a bank at a market rate of interest are recognised at the amount of cash received from the bank, less separately incurred transaction costs.
Director's loans to the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.
Investments in equity shares which are publicly traded or where the fair value of the shares can be measured reliably are initially measured at fair value. Transaction costs are charged to profit or loss. The investments are subsequently remeasured in the balance sheet at fair value with changes in fair value recognised through profit and loss.
Impairment
Dovelight By The Sea Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 November 2023 |
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At 31 October 2024 |
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Depreciation |
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At 1 November 2023 |
- |
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Charge for the year |
- |
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At 31 October 2024 |
- |
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Carrying amount |
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At 31 October 2024 |
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At 31 October 2023 |
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Dovelight By The Sea Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
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Investments |
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2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 November 2023 |
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Provision |
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Carrying amount |
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At 31 October 2024 |
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At 31 October 2023 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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201 Colinton Road
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Debtors |
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Current |
2024 |
2023 |
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Other debtors |
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- |
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- |
Dovelight By The Sea Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Accruals and deferred income |
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Loans and borrowings |
Current loans and borrowings
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2024 |
2023 |
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Other borrowings |
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Related party transactions |
Summary of transactions with other related parties
At 31 October 2024, the company owed £922,338 (£910,713) to Dovelight Ltd. This loan is interest free and has no fixed term of repayment. Dovelight by the Sea Limited owns the issued share capital of Dovelight Ltd.