Company registration number:
07658090
DOG & BONE PROPERTY SERVICES LIMITED
Unaudited filleted financial statements
31 August 2022
DOG & BONE PROPERTY SERVICES LIMITED
Contents
Statement of financial position
Notes to the financial statements
DOG & BONE PROPERTY SERVICES LIMITED
Statement of financial position
31 August 2022
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2022 |
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2021 |
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Note |
£ |
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£ |
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£ |
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£ |
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|
|
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|
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Fixed assets |
|
|
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|
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|
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Investment properties |
|
5 |
457,535 |
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|
457,535 |
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|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
457,535 |
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|
457,535 |
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|
|
|
|
|
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Current assets |
|
|
|
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|
|
|
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Debtors |
|
6 |
27,278 |
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|
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20,556 |
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Cash at bank |
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2,544 |
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|
|
4,060 |
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|
|
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|
_______ |
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_______ |
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29,822 |
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24,616 |
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Creditors: amounts falling due |
|
|
|
|
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|
|
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within one year |
|
7 |
(
59,514) |
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|
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(
64,600) |
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|
|
|
|
_______ |
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|
|
_______ |
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Net current liabilities |
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|
(
29,692) |
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(
39,984) |
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|
|
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|
_______ |
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_______ |
Total assets less current liabilities |
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427,843 |
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417,551 |
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Creditors: amounts falling due |
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|
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|
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after more than one year |
|
8 |
|
|
(
253,864) |
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|
(
265,449) |
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|
|
|
|
|
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Provisions for liabilities |
|
9 |
|
|
(
11,930) |
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(
11,930) |
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|
|
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_______ |
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_______ |
Net assets |
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162,049 |
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|
|
140,172 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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|
|
|
100 |
|
|
|
100 |
Fair value reserve |
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|
|
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81,120 |
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|
|
81,120 |
Profit and loss account |
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80,829 |
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|
58,952 |
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|
|
|
|
_______ |
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|
_______ |
Shareholders funds |
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162,049 |
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140,172 |
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_______ |
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_______ |
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For the year ending 31 August 2022 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 financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
10 May 2023
, and are signed on behalf of the board by:
Jeffery Frederick Nash
Director
Company registration number:
07658090
DOG & BONE PROPERTY SERVICES LIMITED
Notes to the financial statements
Year ended 31 August 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Chancellors House, Brampton Lane, London, NW4 4AB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total invoice value, excluding value added tax, of management fees, rent and other expenses receivable by the company from managing and letting of properties during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved taxlosses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference
.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, which includes purchase price and any directly attributable expenditure. Subsequently, investment properties are revalued to their fair value at each reporting date and any changes in fair value are recognised in profit or loss. Deferred tax is provided on these revaluations.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and loan from shareholder. Debt instruments that are receivable or payable within one year, such as trade receivables andpayables are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be received or paid.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2021:
2
).
5.
Investment properties
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Freehold properties |
Total |
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£ |
£ |
|
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Cost |
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At 1 September 2021 and 31 August 2022 |
457,535 |
457,535 |
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|
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_______ |
_______ |
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Depreciation |
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At 1 September 2021 and 31 August 2022 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 31 August 2022 |
457,535 |
457,535 |
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_______ |
_______ |
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At 31 August 2021 |
457,535 |
457,535 |
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_______ |
_______ |
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Investment properties are revalued annually by the director to fairly reflect their open market value at that date.
6.
Debtors
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|
2022 |
2021 |
|
|
|
£ |
£ |
|
Trade debtors |
|
7,986 |
2,359 |
|
Other debtors |
|
19,292 |
18,197 |
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|
_______ |
_______ |
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27,278 |
20,556 |
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|
_______ |
_______ |
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7.
Creditors: amounts falling due within one year
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
10,840 |
14,054 |
|
Corporation tax |
|
10,073 |
14,076 |
|
Social security and other taxes |
|
2,995 |
2,405 |
|
Other creditors |
|
35,606 |
34,065 |
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|
_______ |
_______ |
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59,514 |
64,600 |
|
|
|
_______ |
_______ |
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8.
Creditors: amounts falling due after more than one year
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
253,864 |
265,449 |
|
|
|
_______ |
_______ |
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9.
Provisions
|
|
Deferred tax |
Total |
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|
£ |
£ |
|
At 1 September 2021 |
11,930 |
11,930 |
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|
_______ |
_______ |
|
At 31 August 2022 |
11,930 |
11,930 |
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|
_______ |
_______ |
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10.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Included in provisions (note 9) |
|
11,930 |
11,930 |
|
|
|
_______ |
_______ |
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|
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|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Revaluation of investment properties |
|
11,930 |
11,930 |
|
|
|
_______ |
_______ |
|
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|
|
|
11.
Related party transactions
Fees receivable amounting to £22,500 are for services provided to Dog & Bone Properties Ltd (a connected company) and £9,315 are for services provided to a SIPP in which Mr J Nash has an interest (a connected party). During the year, the company was charged £2,948 as a finance charge on an unsecured interest bearing loan from the director's spouse, Catherine Nash. This loan is repayable on demand. At the balance sheet date, the amount owed to her amounted to £32,810 (including net loan interest accrued but not yet paid amounting to £12,027) and included under 'Creditors: amounts falling due within one year'. Included in debtors is £19,292 due from Dog & Bone Properties Ltd (a connected company).
12.
Controlling party
Catherine Anne Nash
has a controlling interest in the company.