ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

As restated

Registered number: 03222121

DILLON (HULL) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

DILLON (HULL) LIMITED

REGISTERED NUMBER: 03222121

BALANCE SHEET

AS AT 31 DECEMBER 2024

		As restated
	2024	2023
Note	£	£

Fixed assets
Tangible assets	4		28,784		33,863
Investment property	5		800,000		652,661
			828,784		686,524
Current assets
Cash at bank and in hand		153,289		89,933
Creditors: amounts falling due within one year	6	(241,458)		(212,170)
Net current liabilities			(88,169)		(122,237)
Total assets less current liabilities			740,615		564,287
Provisions for liabilities
Deferred tax	7		(9,374)		-
Net assets			731,241		564,287

Capital and reserves
Called up share capital	2	2
Profit and loss account	731,239	564,285
	731,241	564,287

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DILLON (HULL) LIMITED

REGISTERED NUMBER: 03222121

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 December 2025.

P C Dillon

Director

The notes on pages 3 to 7 form part of these financial statements.

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DILLON (HULL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Dillon (Hull) Limited is a private company limited by shares, incorporated in England and Wales (registered number: 03222121). Its registered office is The Embankment, Woodhouse Street, Hull, HU9 1RJ. The principal activity of the Company throughout the year continued to be that of property rental.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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DILLON (HULL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Plant and machinery

15%

Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

2.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

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DILLON (HULL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not
reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 January 2024	33,863
	At 31 December 2024	33,863
	Depreciation
	Charge for the year on owned assets	5,079
	At 31 December 2024	5,079
	Net book value
	At 31 December 2024	28,784
	At 31 December 2023	33,863

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DILLON (HULL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 January 2024	652,661
	Surplus on revaluation	147,339
	At 31 December 2024	800,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.

Corporation tax	44,265	24,818
Other taxation and social security	3,906	3,818
Other creditors	182,537	183,534
Accruals and deferred income	10,750	-
	241,458	212,170

7.	Deferred taxation

		2024
		£

	Charged to profit or loss	9,374
	At end of year	9,374

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DILLON (HULL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.Deferred taxation (continued)

The deferred taxation balance is made up as follows:
	2024	2023
	£	£

Fixed asset timing differences	7,196	-
Capital gains/(losses)	2,178	-
	9,374	-

8.	Prior year adjustment

During the preparation of the accounts, a fundamental error in the 2023 accounts was identified. This related to investment property being incorrectly treated as land and buildings within tangible fixed assets. A prior year adjustment has been made in these accounts to recognise the assets as investment property.

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