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REGISTERED NUMBER: 08405635 (England and Wales)















Financial Statements for the Year Ended 31 January 2023

for

Domestic Appliance Specialists Limited

Domestic Appliance Specialists Limited (Registered number: 08405635)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Domestic Appliance Specialists Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: S D James





REGISTERED OFFICE: 741 Oxford Road
Reading
Berkshire
RG30 1JA





REGISTERED NUMBER: 08405635 (England and Wales)





ACCOUNTANTS: Geoffrey Cole & Co
4 Reading Road
Pangbourne
Reading
Berkshire
RG8 7LY

Domestic Appliance Specialists Limited (Registered number: 08405635)

Statement of Financial Position
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,389 6,668
2,389 6,668

CURRENT ASSETS
Stocks 9,302 7,702
Debtors 6 92,560 168,740
Cash at bank and in hand 120,112 70,850
221,974 247,292
CREDITORS
Amounts falling due within one year 7 106,003 124,482
NET CURRENT ASSETS 115,971 122,810
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,360

129,478

CREDITORS
Amounts falling due after more than one
year

8

14,987

22,578
NET ASSETS 103,373 106,900

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 103,371 106,898
SHAREHOLDERS' FUNDS 103,373 106,900

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

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

The director acknowledges his 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.

Domestic Appliance Specialists Limited (Registered number: 08405635)

Statement of Financial Position - continued
31 January 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 director and authorised for issue on 27 October 2023 and were signed by:





S D James - Director


Domestic Appliance Specialists Limited (Registered number: 08405635)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Domestic Appliance Specialists 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

As stated in notes, the director has reviewed the impact of COVID-19 on the operations and financial position of the company and has a reasonable expectation that the company has adequate resources to continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Domestic Appliance Specialists Limited (Registered number: 08405635)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Covid-19
At the balance sheet date and of the approval of these financial statements the COVID-19 pandemic is having a significant detrimental impact on social and financial economies of the world. The impact of COVID-19 and the measures the UK Government have announced are likely to have an impact on the operations of the company and its customers for the forthcoming period. The duration of the measures announced to tackle the COVID-19 pandemic has not been defined and there is considerable uncertainty in measuring the potential impact of the measures on the company. These factors and any future policy by the UK Government are largely outside the control of the company's director, but could impact the company.

Accordingly, the financial statements are prepared on a going concern basis, under which assets are recovered and liabilities repaid in the ordinary course of business. The accompanying financial statements do not include adjustments that would need to be made in the case the company was unable to continue as a going concern should the assumptions referred to above subsequently provide to be invalid.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 800
AMORTISATION
At 1 February 2022
and 31 January 2023 800
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

Domestic Appliance Specialists Limited (Registered number: 08405635)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 19,741
Additions 752
At 31 January 2023 20,493
DEPRECIATION
At 1 February 2022 13,073
Charge for year 5,031
At 31 January 2023 18,104
NET BOOK VALUE
At 31 January 2023 2,389
At 31 January 2022 6,668

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2022
and 31 January 2023 15,458
DEPRECIATION
At 1 February 2022 10,971
Charge for year 3,864
At 31 January 2023 14,835
NET BOOK VALUE
At 31 January 2023 623
At 31 January 2022 4,487

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 90,201 166,239
Other debtors 2,359 2,501
92,560 168,740

Domestic Appliance Specialists Limited (Registered number: 08405635)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,945 6,389
Hire purchase contracts (see note 9) 2,695 4,490
Trade creditors 15,409 10,810
Taxation and social security 59,519 83,747
Other creditors 22,435 19,046
106,003 124,482

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,987 20,339
Hire purchase contracts (see note 9) - 2,239
14,987 22,578

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 2,695 4,490
Between one and five years - 2,239
2,695 6,729

Non-cancellable operating leases
2023 2022
£    £   
Within one year 36,117 32,819
Between one and five years 124,681 131,277
In more than five years - 32,819
160,798 196,915