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Registration number: 09336472

Colm Doherty Limited

trading as Dream Doors Leicestershire

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Colm Doherty Limited

trading as Dream Doors Leicestershire

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Colm Doherty Limited

trading as Dream Doors Leicestershire

(Registration number: 09336472)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

68,605

91,738

Current assets

 

Stocks

6

16,253

37,887

Debtors

7

3,064

13,656

Cash at bank and in hand

 

45,501

114,755

 

64,818

166,298

Creditors: Amounts falling due within one year

8

(46,531)

(131,297)

Net current assets

 

18,287

35,001

Total assets less current liabilities

 

86,892

126,739

Creditors: Amounts falling due after more than one year

8

(25,100)

(39,158)

Provisions for liabilities

(17,151)

(22,934)

Net assets

 

44,641

64,647

Capital and reserves

 

Called up share capital

1

1

Retained earnings

44,640

64,646

Shareholders' funds

 

44,641

64,647

 

Colm Doherty Limited

trading as Dream Doors Leicestershire

(Registration number: 09336472)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 July 2025
 

.........................................
Mr J C Doherty
Director

 

Colm Doherty Limited

trading as Dream Doors Leicestershire

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
78 Leicester Road
Loughborough
LE11 2AG

These financial statements were authorised for issue by the director on 3 July 2025.

2

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Colm Doherty Limited

trading as Dream Doors Leicestershire

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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:

Asset class

Depreciation method and rate

Fixtures and fittings

20% Straight line

Office equipment

20% Straight line

Intangible assets

Intangible fixed assets are initially recorded at cost including any costs incurred in acquiring the asset. They are are subsequently recognised at cost less accumlated amortisation with an impairment review being carried out at each year end. Any impairments or reversals of impairments are recognised in profit and loss.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise fee

20% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Colm Doherty Limited

trading as Dream Doors Leicestershire

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

Colm Doherty Limited

trading as Dream Doors Leicestershire

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Franchise fee
£

Total
£

Cost or valuation

At 1 January 2024

38,175

38,175

At 31 December 2024

38,175

38,175

Amortisation

At 1 January 2024

38,175

38,175

At 31 December 2024

38,175

38,175

Carrying amount

At 31 December 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

27,655

110,150

137,805

At 31 December 2024

27,655

110,150

137,805

Depreciation

At 1 January 2024

24,037

22,030

46,067

Charge for the year

1,103

22,030

23,133

At 31 December 2024

25,140

44,060

69,200

Carrying amount

At 31 December 2024

2,515

66,090

68,605

At 31 December 2023

3,618

88,120

91,738

 

Colm Doherty Limited

trading as Dream Doors Leicestershire

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Stocks

2024
£

2023
£

Raw materials and consumables

2,000

2,000

Work in progress

14,253

35,887

16,253

37,887

7

Debtors

Current

2024
£

2023
£

Trade debtors

1,856

-

Prepayments

1,208

937

Other debtors

-

12,719

 

3,064

13,656

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

14,058

14,058

Trade creditors

 

8,418

15,770

Taxation and social security

 

11,968

4,465

Accruals and deferred income

 

955

955

Other creditors

 

11,132

96,049

 

46,531

131,297

A debenture has been lodged at Companies House, in favour of Natwest bank, with fixed and floating charges over all assets, dated 31 December 2014.