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Company registration number: 06354909
Decosemo Solutions Limited
Unaudited filleted financial statements
31 March 2023
Decosemo Solutions Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
Decosemo Solutions Limited
Directors and other information
Director M Decosemo
Secretary G Decosemo
Company number 06354909
Registered office 17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Accountants The Barker Partnership
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Bankers Santander UK plc
2 Triton Square
Regent's Place
London
NW1 3AN
Decosemo Solutions Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Decosemo Solutions Limited
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Decosemo Solutions Limited for the year ended 31 March 2023 which comprise the Balance Sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Decosemo Solutions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Decosemo Solutions Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Decosemo Solutions Limited and its director as a body for our work or for this report.
It is your duty to ensure that Decosemo Solutions 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 Decosemo Solutions Limited. You consider that Decosemo Solutions Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Decosemo Solutions 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.
The Barker Partnership
Chartered Accountants
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
24 October 2023
Decosemo Solutions Limited
Balance sheet
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 21,338 964
_______ _______
21,338 964
Current assets
Debtors 6 8,593 2,160
Cash at bank and in hand 22,814 34,093
_______ _______
31,407 36,253
Creditors: amounts falling due
within one year 7 ( 29,847) ( 17,396)
_______ _______
Net current assets 1,560 18,857
_______ _______
Total assets less current liabilities 22,898 19,821
_______ _______
Net assets 22,898 19,821
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 22,798 19,721
_______ _______
Shareholders funds 22,898 19,821
_______ _______
For the year ending 31 March 2023 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 October 2023 , and are signed on behalf of the board by:
M Decosemo
Director
Company registration number: 06354909
Decosemo Solutions Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Central Buildings, Market Place, Thirsk, North Yorkshire, YO7 1HD. The principal activity of the company is that of training consultancy.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved taxlosses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2022 5,576 - 5,576
Additions 522 27,235 27,757
_______ _______ _______
At 31 March 2023 6,098 27,235 33,333
_______ _______ _______
Depreciation
At 1 April 2022 4,612 - 4,612
Charge for the year 574 6,809 7,383
_______ _______ _______
At 31 March 2023 5,186 6,809 11,995
_______ _______ _______
Carrying amount
At 31 March 2023 912 20,426 21,338
_______ _______ _______
At 31 March 2022 964 - 964
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 8,593 2,160
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax - 573
Social security and other taxes 6,638 10,341
Other creditors 23,209 6,482
_______ _______
29,847 17,396
_______ _______
8. Related party transactions
Included in creditors is £354 (2021 - £4,767) due to the director. The loan is interest free and has no fixed repayment terms.