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Logo On Report
Registered Number: 08623429
England and Wales

 

 

 

DK FINANCE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2020

End date: 31 July 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of DK Finance Limited for the year ended 31 July 2021 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the directors of DK Finance Limited in accordance with our terms of engagement. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its directors for our work or for this report.

It is your duty to ensure that DK Finance Limited has kept adequate accounting records
and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of DK Finance Limited.
You consider that DK Finance Limited is exempt from the statutory audit requirement for the period and we have not been instructed to carry out an audit or a review of the financial statements of DK Finance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.



....................................................
Burton Varley Ltd
Bank Chambers
93 Lapwing Lane
Manchester
M20 6UR
19 August 2022
1
 
 
Notes
 
2021
£
  2020
£
Fixed assets      
Tangible fixed assets 1,532    1,812 
1,532    1,812 
Current assets      
Debtors 82,253   
Cash at bank and in hand   1,357 
82,253    1,357 
Creditors: amount falling due within one year (13,315)   (34,500)
Net current assets 68,938    (33,143)
 
Total assets less current liabilities 70,470    (31,331)
Creditors: amount falling due after more than one year (50,000)  
Net assets 20,470    (31,331)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 20,469    (31,332)
Shareholder's funds 20,470    (31,331)
 


For the year ended 31 July 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 19 August 2022 and were signed on its behalf by:


--------------------------------
Dhiren Kotecha
Director
2
General Information
DK Finance Limited is a private company, limited by shares, registered in England and Wales, registration number 08623429, registration address Bank Chambers, 93 Lapwing Lane, Manchester, M20 6UR

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 15% Reducing Balance
Plant and Machinery 25% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2020 : 1).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Plant and Machinery   Total
  £   £   £
At 01 August 2020 4,580    573    5,153 
Additions    
Disposals    
At 31 July 2021 4,580    573    5,153 
Depreciation
At 01 August 2020 2,853    488    3,341 
Charge for year 259    21    280 
On disposals    
At 31 July 2021 3,112    509    3,621 
Net book values
Closing balance as at 31 July 2021 1,468    64    1,532 
Opening balance as at 01 August 2020 1,727    85    1,812 


4.

Share Capital

Allotted, called up and fully paid
2021
£
  2020
£
1 Class A share of £1.00 each  
 

3