The Darling Sweet Company Ltd - Filleted accounts

Registered number

09415816

The Darling Sweet Company Ltd

Filleted Accounts

28 February 2023

The Darling Sweet Company Ltd
Registered number:		09415816
Balance Sheet
as at 28 February 2023

Notes			2023			2022
£				£
Fixed assets
Intangible assets	3		4,000			6,000
Tangible assets	4		2,412			2,163
			6,412			8,163

Current assets
Stocks		7,300			6,250
Debtors	5	1,082			1,651
Cash at bank and in hand		84,311			94,967
		92,693			102,868

Creditors: amounts falling due within one year	6	(69,867)			(72,121)

Net current assets			22,826			30,747

Total assets less current liabilities			29,238			38,910

Creditors: amounts falling due after more than one year	7		(43,430)			(48,448)

Provisions for liabilities			(458)			(411)


Net liabilities			(14,650)			(9,949)

Capital and reserves
Called up share capital			1			1
Profit and loss account			(14,651)			(9,950)

Shareholders' funds			(14,650)			(9,949)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Taranjit Gahir
Director
Approved by the board on 4 October 2023

The Darling Sweet Company Ltd
Notes to the Accounts
for the year ended 28 February 2023


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold land and buildings	5 years straight line
	Plant and machinery	25% straight line
	Fixtures, fittings, tools and equipment	25% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees			2023		2022
Number					Number

	Average number of persons employed by the company			2		3


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 March 2022					20,000
	At 28 February 2023					20,000

	Amortisation
	At 1 March 2022					14,000
	Provided during the year					2,000
	At 28 February 2023					16,000

	Net book value
	At 28 February 2023					4,000
	At 28 February 2022					6,000

	Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 March 2022	9,215		12,508		21,723
	Additions	-		1,809		1,809
	Disposals	-		(1,528)		(1,528)
	At 28 February 2023	9,215		12,789		22,004

	Depreciation
	At 1 March 2022	9,215		10,345		19,560
	Charge for the year	-		414		414
	On disposals	-		(382)		(382)
	At 28 February 2023	9,215		10,377		19,592

	Net book value
	At 28 February 2023	-		2,412		2,412
	At 28 February 2022	-		2,163		2,163


5	Debtors			2023		2022
£					£

	Other debtors			1,082		1,651


6	Creditors: amounts falling due within one year			2023		2022
£					£

	Trade creditors			63,232		65,440
	Taxation and social security costs			2,258		1,939
	Other creditors			4,377		4,742
				69,867		72,121


7	Creditors: amounts falling due after one year			2023		2022
£					£

	Bank loans			43,430		48,448


8	Other information

	The Darling Sweet Company Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	34 Western Arcade
	Colmore Row
	Birmingham
	Westmidlands
	B2 5HU