Registered number
07521815
Dunne & Dusted Ltd
Filleted Accounts
28 February 2023
Dunne & Dusted Ltd
Registered number: 07521815
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 863 1,193
Current assets
Stocks 19,000 -
Debtors 4 149,218 176,328
Cash at bank and in hand 1,302 850
169,520 177,178
Creditors: amounts falling due within one year 5 (127,555) (124,769)
Net current assets 41,965 52,409
Total assets less current liabilities 42,828 53,602
Provisions for liabilities (263) (316)
Net assets 42,565 53,286
Capital and reserves
Called up share capital 1 1
Profit and loss account 42,564 53,285
Shareholders' funds 42,565 53,286
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Magdalena Dunne
Director
Approved by the board on 10 November 2023
Dunne & Dusted Ltd
Notes to the Accounts
for the year ended 28 February 2023
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.
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Work in progress is measured at the higher of cost and estimated selling price less costs to complete and sell
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. 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. Current and deferred tax 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 stakeholder pension scheme are expensed in the period in which they made.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 7
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022 4,780
Additions 561
At 28 February 2023 5,341
Depreciation
At 1 March 2022 3,587
Charge for the year 891
At 28 February 2023 4,478
Net book value
At 28 February 2023 863
At 28 February 2022 1,193
4 Debtors 2023 2022
£ £
Trade debtors 149,218 176,328
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,118 -
Trade creditors 30,535 26,491
Taxation and social security costs 87,902 98,226
Other creditors - 52
127,555 124,769
6 Other information
Dunne & Dusted Ltd is a private company limited by shares and incorporated in England. Its registered office is:
226-228 King Street
London
W6 0RA
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