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Registered Number: 10867830
England and Wales

 

 

 

DYCARD DEVELOPMENTS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 737    5,507 
737    5,507 
Current assets      
Debtors 60,819    41,852 
Cash at bank and in hand 12,074    5,436 
72,893    47,288 
Creditors: amount falling due within one year (47,185)   (41,980)
Net current assets 25,708    5,308 
 
Total assets less current liabilities 26,445    10,815 
Creditors: amount falling due after more than one year (19,065)   (29,099)
Net assets 7,380    (18,284)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 7,280    (18,384)
Shareholder's funds 7,380    (18,284)
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 09 November 2023 and were signed by:


-------------------------------
J P Cardy
Director
1
General Information
Dycard Developments Ltd is a private company, limited by shares, registered in England and Wales, registration number 10867830, registration address Merlin House, Brunel Road, Theale, Reading, Berkshire, RG7 4AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, 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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year and and that are expected to apply to the reversal of the timing difference.

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.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
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. 


Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
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 subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Motor Vehicles   Total
  £   £   £   £   £
At 01 August 2022 6,326    1,418    1,315    18,795    27,854 
Additions     387      387 
Disposals        
At 31 July 2023 6,326    1,418    1,702    18,795    28,241 
Depreciation
At 01 August 2022 5,755    1,418    1,078    14,096    22,347 
Charge for year 331      127    4,699    5,157 
On disposals        
At 31 July 2023 6,086    1,418    1,205    18,795    27,504 
Net book values
Closing balance as at 31 July 2023 240      497      737 
Opening balance as at 01 August 2022 571      237    4,699    5,507 

The net book value of Motor Vehicles includes £ 0 (2022 £4,699) in respect of assets leased under finance leases or hire purchase contracts.

4.

Debtors: amounts falling within one year

.   2023
£
  2022
£
Trade debtors 17,500  37,004 
Prepayments & Accrued Income 38,472 
Other Debtors 4,847  4,848 
60,819  41,852 

5.

Creditors: amount falling due within one year

.   2023
£
  2022
£
Trade Creditors
Bank loans & Overdrafts 10,035  9,788 
Corporation Tax 19,505 
PAYE & Social Security 1,620  1,350 
Accrued expenses 4,008  6,726 
Directors' Current Accounts 13,080 
VAT 12,016  9,907 
Obligations under HP/Financial Leases 1,128 
47,185  41,980 

6.

Creditors: amount falling due after more than one year

.   2023
£
  2022
£
Bank loans & overdrafts 19,065  29,099 
19,065  29,099 

2