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Registration number: 04551986

D of E Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2021

 

D of E Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

D of E Limited

(Registration number: 04551986)
Balance Sheet as at 31 October 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

83,635

82,862

Current assets

 

Stocks

5

2,500

2,500

Debtors

6

36,679

5,776

Cash at bank and in hand

 

184,183

225,966

 

223,362

234,242

Creditors: Amounts falling due within one year

7

(103,823)

(90,030)

Net current assets

 

119,539

144,212

Total assets less current liabilities

 

203,174

227,074

Creditors: Amounts falling due after more than one year

7

(156,633)

(201,279)

Net assets

 

46,541

25,795

Capital and reserves

 

Called up share capital

100

100

Retained earnings

46,441

25,695

Shareholders' funds

 

46,541

25,795

 

D of E Limited

(Registration number: 04551986)
Balance Sheet as at 31 October 2021

For the financial year ending 31 October 2021 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 5 September 2022
 

.........................................
Mr N P Tilt
Director

 

D of E Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of food and drink to customers. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

D of E Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

Asset class

Depreciation method and rate

Plant and machinery

25% of net book value

Office equipment

20% of net book value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 21 (2020 - 19).

 

D of E Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 November 2020

15,268

55,498

51,602

4,317

Additions

-

3,535

104

-

At 31 October 2021

15,268

59,033

51,706

4,317

Depreciation

At 1 November 2020

-

-

42,668

1,155

Charge for the year

-

-

2,234

632

At 31 October 2021

-

-

44,902

1,787

Carrying amount

At 31 October 2021

15,268

59,033

6,804

2,530

At 31 October 2020

15,268

55,498

8,934

3,162

Total
£

Cost or valuation

At 1 November 2020

126,685

Additions

3,639

At 31 October 2021

130,324

Depreciation

At 1 November 2020

43,823

Charge for the year

2,866

At 31 October 2021

46,689

Carrying amount

At 31 October 2021

83,635

At 31 October 2020

82,862

Included within the net book value of land and buildings above is £15,268 (2020 - £15,268) in respect of freehold land and buildings.
 

 

D of E Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

5

Stocks

2021
£

2020
£

Other inventories

2,500

2,500

6

Debtors

Current

2021
£

2020
£

Other debtors

36,679

5,776

 

D of E Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

7

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Loans and borrowings

40,200

3,513

Trade creditors

25,933

21,537

Taxation and social security

33,990

59,495

Other creditors

3,700

5,485

103,823

90,030

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

156,633

201,279

8

Loans and borrowings

2021
£

2020
£

Current loans and borrowings

Bank borrowings

-

3,513

Other borrowings

40,200

-

40,200

3,513

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

-

279

Other borrowings

156,633

201,000

156,633

201,279

 

D of E Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

9

Related party transactions

Transactions with the director

2021

At 1 November 2020
£

Advances to director
£

Repayments by director
£

At 31 October 2021
£

Mr N P Tilt

(1,547)

44,960

(12,601)

30,812