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Financial Statements for the Year Ended 31 August 2020 |
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1DOM Limited |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 August 2020 |
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for |
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1DOM Limited |
1DOM Limited (Registered number: 10642896) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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1DOM Limited |
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Company Information |
for the Year Ended 31 August 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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1DOM Limited (Registered number: 10642896) |
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Balance Sheet |
31 August 2020 |
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31.8.20 | 31.8.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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1DOM Limited (Registered number: 10642896) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2020 |
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1. | STATUTORY INFORMATION |
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1DOM Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements. |
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Turnover |
Turnover, derived from ordinary activities, represents loan interest and fees that are recognised as they become due. |
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Investments in subsidiaries |
Investments in subsidiaries are included at cost less any provision for impairment. |
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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. |
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Financial instruments |
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
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Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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1DOM Limited (Registered number: 10642896) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 September 2019 |
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Disposals | ( |
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At 31 August 2020 |
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NET BOOK VALUE |
At 31 August 2020 |
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At 31 August 2019 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2019 |
and 31 August 2020 |
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NET BOOK VALUE |
At 31 August 2020 |
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At 31 August 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.20 | 31.8.19 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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1DOM Limited (Registered number: 10642896) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.20 | 31.8.19 |
£ | £ |
Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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8. | CONTINGENT LIABILITIES |
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During the year the company disposed of an investment. The acquiring company took on an associated debt of £4,875,000. In the unlikely event that the acquiring company does not meet the obligation, 1DOM Limited will be liable for the debt. |
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9. | RELATED PARTY DISCLOSURES |
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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. |
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At the balance sheet date £684,209 was due to companies under common control (2019: £815,791 due from companies under common control). |