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REGISTERED NUMBER: 07230994 (England and Wales)






UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

DEFRIES WEISS (ACCOUNTANTS) LIMITED

DEFRIES WEISS (ACCOUNTANTS) LIMITED (REGISTERED NUMBER: 07230994)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DEFRIES WEISS (ACCOUNTANTS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Gerald Defries
Kaushik Mehta
Warren Weiss





REGISTERED OFFICE: 1 Bridge Lane
London
NW11 0EA





REGISTERED NUMBER: 07230994 (England and Wales)





ACCOUNTANTS: Defries Weiss (Accountants) Limited
1 Bridge Lane
London
NW11 0EA

DEFRIES WEISS (ACCOUNTANTS) LIMITED (REGISTERED NUMBER: 07230994)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6,883 5,982
6,883 5,982

CURRENT ASSETS
Debtors 6 173,949 132,217
Cash at bank and in hand 231,086 440,230
405,035 572,447
CREDITORS
Amounts falling due within one year 7 234,394 423,449
NET CURRENT ASSETS 170,641 148,998
TOTAL ASSETS LESS CURRENT
LIABILITIES

177,524

154,980

CREDITORS
Amounts falling due after more than one
year

8

-

(30,000

)

PROVISIONS FOR LIABILITIES (1,674 ) (1,092 )
NET ASSETS 175,850 123,888

CAPITAL AND RESERVES
Called up share capital 145 150
Capital redemption reserve 15 10
Retained earnings 175,690 123,728
SHAREHOLDERS' FUNDS 175,850 123,888

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

DEFRIES WEISS (ACCOUNTANTS) LIMITED (REGISTERED NUMBER: 07230994)

BALANCE SHEET - continued
31 MAY 2023


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 by the Board of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by:





Warren Weiss - Director


DEFRIES WEISS (ACCOUNTANTS) LIMITED (REGISTERED NUMBER: 07230994)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Defries Weiss (Accountants) 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.


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is calculated as the chargeable value of work completed in the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, was amortised evenly over its estimated useful life of six years. The goodwill continues to exist and to have a value, but that value cannot be reliably estimated by reference to any active market or known recent transactions. In accordance with the provisions of section 2A of FRS 102, goodwill is therefore carried at its fully amortised value of £nil.

Patents and licences
Patents and licences acquired in 2010 have been amortised evenly over their estimated useful lives of two years.

Tangible fixed assets
Depreciation is provided at 25% per annum on the reducing balance method in order to write off plant and machinery over its estimated useful life.

Financial instruments
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangements constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised.

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.

Pension costs
Pension contributions are charged to the profit and loss account in the period during which the company becomes committed to paying them.




DEFRIES WEISS (ACCOUNTANTS) LIMITED (REGISTERED NUMBER: 07230994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 993,000 500 993,500
AMORTISATION
At 1 June 2022
and 31 May 2023 993,000 500 993,500
NET BOOK VALUE
At 31 May 2023 - - -
At 31 May 2022 - - -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 17,645
Additions 4,428
Disposals (11,670 )
At 31 May 2023 10,403
DEPRECIATION
At 1 June 2022 11,663
Charge for year 844
Eliminated on disposal (8,987 )
At 31 May 2023 3,520
NET BOOK VALUE
At 31 May 2023 6,883
At 31 May 2022 5,982

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23 31.5.22
£ £
Trade debtors114,26456,209
Other debtors59,68576,008
173,949132,217

DEFRIES WEISS (ACCOUNTANTS) LIMITED (REGISTERED NUMBER: 07230994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23 31.5.22
£ £
Trade creditors36,90631,330
Other creditors99,725290,238
Taxation and social security97,76391,881
Bank loan-10,000
234,394423,449

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.5.23 31.5.22
£ £
Bank loans-30,000
-30,000


9. FINANCIAL COMMITMENTS

At the balance sheet date the company was committed to payments of £9,559 (2022: £14,125) under operating leases for plant and machinery expiring in between two to five years. This includes £2,780 (2022: £9,920) payable within a year. The company was also committed to payments of £ nil (2022: £25,620) under an office lease expiring within one year.