Docklock_Limited - Accounts

DOCKLOCK LIMITED - Company Information

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Company Registration No. 02017727 (England and Wales)

Docklock Limited

Unaudited abbreviated financial statements

For the year ended 31 March 2016

DOCKLOCK LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

DOCKLOCK LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

32,117,695

32,127,039

Current assets

Debtors

188,475

921,844

Cash at bank and in hand

595,490

209,109

783,965

1,130,953

Creditors: amounts falling due within one year

(1,170,920)

(1,250,190)

Net current liabilities

(386,955)

(119,237)

Total assets less current liabilities

31,730,740

32,007,802

Creditors: amounts falling due after more than one year

(6,996,965)

(7,380,442)

24,733,775

24,627,360

Capital and reserves

Called up share capital

100

Revaluation reserve

20,984,113

Profit and loss account

3,749,562

3,643,147

Shareholders' funds

24,733,775

24,627,360

DOCKLOCK LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 23 November 2017

Mr N Christoforou

Director

Company Registration No. 02017727

DOCKLOCK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents the rent receivable, excluding value added tax in the normal course of company's business.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

DOCKLOCK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Fixed assets

Tangible assets

Cost or valuation

At 1 April 2015

32,363,066

Additions

5,297

At 31 March 2016

32,368,363

Depreciation

At 1 April 2015

236,027

Charge for the year

14,641

At 31 March 2016

250,668

Net book value

At 31 March 2016

32,117,695

At 31 March 2015

32,127,039

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Control

The company is controlled by Mr N Christoforou (Director). The ultimate controlling parties are Mrs B Christoforou and Mr C Christoforou who between them own 100% of voting share capital.

DOCKLOCK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 5 -

Related party relationships and transactions

Transactions in relation to loans with directors and shareholders during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr N Christoforou -

3.00

32,097

63,140

406

116,300

(20,657)

Mrs B Christoforou -

3.00

18,689

40,673

255

61,000

(1,383)

Mr C Christoforou

3.00

60,092

7,127

973

62,453

5,739

110,878

110,940

1,634

239,753

(16,301)

The loans are unsecured and repayable on demand.

Mr C Christoforou is a shareholder of the company. Mr N Christoforou and Mrs B Christoforou are the company directors. In addition Mrs B Christoforou is also a shareholder.