Registered number
07839799
Dandelion Trading (UK) Limited
Unaudited Filleted Accounts
30 November 2022
Dandelion Trading (UK) Limited
Registered number: 07839799
Balance Sheet
as at 30 November 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 347,594 288,354
Current assets
Stocks 120,000 65,000
Debtors 4 92,845 185,751
Cash at bank and in hand 303,246 272,023
516,091 522,774
Creditors: amounts falling due within one year 5 (416,991) (463,605)
Net current assets 99,100 59,169
Total assets less current liabilities 446,694 347,523
Creditors: amounts falling due after more than one year 6 (136,593) (126,340)
Net assets 310,101 221,183
Capital and reserves
Called up share capital 20 20
Profit and loss account 310,081 221,163
Shareholder's funds 310,101 221,183
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr Y Lu
Director
Approved by the board on 8 November 2023
Dandelion Trading (UK) Limited
Notes to the Accounts
for the period from 30 November 2021 to 30 November 2022
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.
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 over the lease term
Plant and machinery over 5 years
Warehouse improvement over the lease term
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 400 of the Companies Act 2006 as it is a wholly-owned subsidiary undertaking of Rallycart Ltd , a company incorporated in England and Wales.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 18 11
3 Tangible fixed assets
Leasehold land and buildings Plant and machinery etc Warehouse improvement Total
£ £ £ £
Cost
At 30 November 2021 191,767 206,233 73,917 471,917
Additions - 147,454 - 147,454
At 30 November 2022 191,767 353,687 73,917 619,371
Depreciation
At 30 November 2021 76,708 99,463 7,392 183,563
Charge for the period 19,177 61,645 7,392 88,214
At 30 November 2022 95,885 161,108 14,784 271,777
Net book value
At 30 November 2022 95,882 192,579 59,133 347,594
At 29 November 2021 115,059 106,770 66,525 288,354
4 Debtors 2022 2021
£ £
Trade debtors 7,264 79,142
Amounts owed by companies under common control
24,385 497
Other debtors 61,196 106,112
92,845 185,751
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 28,243 27,879
Obligations under finance lease and hire purchase contracts 33,512 21,090
Trade creditors 98,764 183,404
Amounts owed to companies under common control
60,938 59,500
Taxation and social security costs 52,902 58,518
Other creditors 142,632 113,214
416,991 463,605
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 57,973 53,577
Obligations under finance lease and hire purchase contracts 78,620 72,763
136,593 126,340
7 Related party transactions
The company has taken advantages of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland not to disclose related party transactions with wholly owned by parent company in the group.
8 Controlling party
The company is under the control of the shareholder, Mr Y Lu by virtue of his shareholdings in the company.
9 Other information
Dandelion Trading (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
31 Burleigh Street
Cambridge
CB1 1DG
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