Registered number
06349620
DORAN ASSET MANAGEMENT LIMITED
Unaudited Filleted Accounts
31 December 2024
DORAN ASSET MANAGEMENT LIMITED
Registered number: 06349620
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,040,074 5,125,380
Investments 4 1,040,121 1,040,121
6,080,195 6,165,501
Current assets
Debtors 5 108,033 29,306
Cash at bank and in hand 80,330 71,983
188,363 101,289
Creditors: amounts falling due within one year 6 (2,741,749) (2,797,956)
Net current liabilities (2,553,386) (2,696,667)
Total assets less current liabilities 3,526,809 3,468,834
Creditors: amounts falling due after more than one year 7 (402,997) (413,939)
Provisions for liabilities (666,660) (674,860)
Net assets 2,457,152 2,380,035
Capital and reserves
Called up share capital 205 200
Revaluation reserve 9 1,479,524 1,479,524
Profit and loss account 977,423 900,311
Shareholders' funds 2,457,152 2,380,035
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.
T M Doran
Director
Approved by the board on 25 September 2025
DORAN ASSET MANAGEMENT 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).
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 the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Land and buildings Buildings over 50 years
Plant and machinery 15%-25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Motor Vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 5,156,523 430,532 26,910 5,613,965
Additions 676 - - 676
At 31 December 2024 5,157,199 430,532 26,910 5,614,641
Depreciation
At 1 January 2024 156,523 306,005 26,057 488,585
Charge for the year 66,667 19,101 214 85,982
At 31 December 2024 223,190 325,106 26,271 574,567
Net book value
At 31 December 2024 4,934,009 105,426 639 5,040,074
At 31 December 2023 5,000,000 124,527 853 5,125,380
Freehold land and buildings: 2024 2023
£ £
Historical cost 3,254,957 3,254,281
Cumulative depreciation based on historical cost 144,978 101,401
3,109,979 3,152,880
The land and buildings have been revalued by the directors at the end of the financial year to 31 December 2024. The cost and the revaluation of the land and buildings in the accounts is considered to be equal to the market value of the land and buildings at 31 December 2024.
4 Investments
Other
investments
£
Cost
At 1 January 2024 1,040,121
At 31 December 2024 1,040,121
Historical cost
At 1 January 2024 969,660
At 31 December 2024 969,660
The freehold investment properties were revalued by the directors at the end of the financial year to 31 December 2024. The cost and the revaluations of the freehold properties in the accounts is considered to be equal to the market value of those properties at 31 December 2024.
5 Debtors 2024 2023
£ £
Trade debtors 82,925 10,085
Other debtors 25,108 19,221
108,033 29,306
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 87,520 170,156
Trade creditors 24,419 5,329
Taxation and social security costs 41,896 27,252
Other creditors 2,587,914 2,595,219
2,741,749 2,797,956
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 402,997 413,939
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 490,517 584,095
The bank loans are secured against the freehold property and the fixed and floating assets of the company.
9 Revaluation reserve 2024 2023
£ £
At 1 January 2024 1,479,524 1,510,224
Gain on revaluation of land and buildings - 108,230
Deferred taxation arising on the revaluation of land and buildings - (138,930)
At 31 December 2024 1,479,524 1,479,524
10 Other information
DORAN ASSET MANAGEMENT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Hermitage Park
Harts Farm Way
Havant
England
PO9 1FA
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