Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31falseRetail sale via mail order houses or via Internettruetrue2022-07-223The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14250332 2022-07-21 14250332 2022-07-22 2023-03-31 14250332 2021-07-22 2022-07-21 14250332 2023-03-31 14250332 c:Director2 2022-07-22 2023-03-31 14250332 d:OfficeEquipment 2022-07-22 2023-03-31 14250332 d:OfficeEquipment 2023-03-31 14250332 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-22 2023-03-31 14250332 d:ComputerEquipment 2022-07-22 2023-03-31 14250332 d:ComputerEquipment 2023-03-31 14250332 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-22 2023-03-31 14250332 d:OwnedOrFreeholdAssets 2022-07-22 2023-03-31 14250332 d:CurrentFinancialInstruments 2023-03-31 14250332 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 14250332 d:ShareCapital 2023-03-31 14250332 d:RetainedEarningsAccumulatedLosses 2023-03-31 14250332 c:FRS102 2022-07-22 2023-03-31 14250332 c:AuditExempt-NoAccountantsReport 2022-07-22 2023-03-31 14250332 c:FullAccounts 2022-07-22 2023-03-31 14250332 c:PrivateLimitedCompanyLtd 2022-07-22 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 14250332









DANIEL SIMMONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
DANIEL SIMMONS LIMITED
REGISTERED NUMBER: 14250332

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
£

Fixed assets
  

Tangible assets
  
8,815

  
8,815

Current assets
  

Stocks
  
47,500

Debtors: amounts falling due within one year
  
48,821

Cash at bank and in hand
  
84,917

  
181,238

Creditors: amounts falling due within one year
  
(186,470)

Net current (liabilities)/assets
  
 
 
(5,232)

Total assets less current liabilities
  
3,583

  

Net assets
  
3,583


Capital and reserves
  

Called up share capital 
  
1,000

Profit and loss account
  
2,583

  
3,583


Page 1

 
DANIEL SIMMONS LIMITED
REGISTERED NUMBER: 14250332
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A S Dehal
Director

Date: 2 November 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
DANIEL SIMMONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Daniel Simmons Limited is a private company, limited by shares and incorporated in England and Wales (registered number: 14250332). 
The registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The principal activity of the company is that of a retail fashion brand. 
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
DANIEL SIMMONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
DANIEL SIMMONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 3.

Page 5

 
DANIEL SIMMONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


Additions
2,633
7,751
10,384



At 31 March 2023

2,633
7,751
10,384



Depreciation


Charge for the period on owned assets
73
1,496
1,569



At 31 March 2023

73
1,496
1,569



Net book value



At 31 March 2023
2,560
6,255
8,815

Page 6

 
DANIEL SIMMONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

5.


Stocks

2023
£

Finished goods and goods for resale
47,500

47,500



6.


Debtors

2023
£


Other debtors
42,209

Prepayments and accrued income
6,612

48,821



7.


Cash and cash equivalents

2023
£

Cash at bank and in hand
84,917

84,917



8.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
125,914

Corporation tax
5,137

Other creditors
52,419

Accruals and deferred income
3,000

186,470


 
Page 7