Dubuit Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03994843 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

DUBUIT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J L Dubuit

REGISTERED OFFICE:

Unit 5 Barrett Court

70 Cardiff Road

Reading

Berkshire

RG1 8ES

REGISTERED NUMBER:

03994843 (England and Wales)

AUDITORS:

Haines Watts, Statutory Auditor

Chartered Accountants

Advantage

87 Castle Street

Reading

Berkshire

RG1 7SN

FIXED ASSETS

Investments

4

-

Investment property

5

315,000

CURRENT ASSETS

Debtors

6

202,573

198,173

Cash at bank

302

144

202,875

198,317

CREDITORS

Amounts falling due within one year

7

421,924

NET CURRENT LIABILITIES

(219,049

)

(223,607

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

95,951

91,393

PROVISIONS FOR LIABILITIES

8,927

8,027

NET ASSETS

87,024

83,366

CAPITAL AND RESERVES

Called up share capital

8

320,000

Revaluation reserve

76,073

76,973

Retained earnings

(309,049

)

(313,607

)

SHAREHOLDERS' FUNDS

87,024

83,366

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 5 May 2021 and were signed by:

J L Dubuit - Director

1.	STATUTORY INFORMATION

Dubuit Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The company has net current liabilities at the balance sheet date of £219,049, principally due to an amount due to the parent company of £417,235. The director has reasonable expectation that the parent company loan will be of sufficient amount and duration to allow the company to meet its liabilities as they fall due. In addition the parent company has expressed that it will continue to financially support the company for the foreseeable future and has therefore prepared the accounts on a going concern basis.

Rental income

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease unless the lease payments are structured to increase in line with expected general inflation in which case the income is recognised as revenue in accordance with the expected payments.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments are initially measured at transaction price.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and short-term bank deposits with an original maturity of three months or less.

Loans and borrowings are classified as basic financial instruments and are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2020

and 31 December 2020

480,000

PROVISIONS

At 1 January 2020

and 31 December 2020

480,000

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2020

and 31 December 2020

315,000

NET BOOK VALUE

At 31 December 2020

315,000

At 31 December 2019

315,000

The fair value of the investment property has been arrived at on the basis of a carried out at 1st July 2019 by Quintons Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

Amounts owed by participating interests

202,573

198,173

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

Amounts owed to group undertakings

417,235

417,087

Taxation and social security

1,728

2,012

Other creditors

2,961

2,825

421,924

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

320,000

Ordinary

£1

320,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Thomas FCCA (Senior Statutory Auditor)

for and on behalf of Haines Watts, Statutory Auditor

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Dubuit International, a company incorporated in France. This is unchanged from the prior year.

Dubuit Limited - Accounts to registrar (filleted) - small 18.2

Dubuit Limited - Accounts to registrar (filleted) - small 18.2