2022-06-012023-05-312023-05-31false12712885Derdes 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Derdes Limited

Registered Number
12712885
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

Derdes Limited
Company Information
for the year from 1 June 2022 to 31 May 2023

Directors

Sagayamary Anthony Joseph
Thomas, Anthony Joseph

Registered Address

31 Station Road Sids Local
Burgess Hill
RH15 9DE

Registered Number

12712885 (England and Wales)
Derdes Limited
Statement of Financial Position
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets645,00045,000
Tangible assets711,89314,146
56,89359,146
Current assets
Stocks845,17546,755
Debtors93,2346,709
Cash at bank and on hand24,97769,794
73,386123,258
Creditors amounts falling due within one year10(72,863)(115,458)
Net current assets (liabilities)5237,800
Total assets less current liabilities57,41666,946
Creditors amounts falling due after one year11(49,208)(49,208)
Provisions for liabilities12-(3,584)
Net assets8,20814,154
Capital and reserves
Called up share capital400400
Profit and loss account7,80813,754
Shareholders' funds8,20814,154
The financial statements were approved and authorised for issue by the Board of Directors on 16 November 2023, and are signed on its behalf by:
Sagayamary Anthony Joseph
Director
Thomas, Anthony Joseph
Director

Registered Company No. 12712885
Derdes Limited
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company for the period under review was that of retail sale in non-specialised stores with food, beverages or tobacco predominating and other retail sale in non-specialised stores.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Intangible assets policy
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed Twenty years.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
5.Employee information

20232022
Average number of employees during the year32
6.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 June 2245,00045,000
At 31 May 2345,00045,000
Net book value
At 31 May 2345,00045,000
At 31 May 2245,00045,000
7.Property, plant and equipment

Plant & machinery

Fixtures & fittings

Total

£££
Cost or valuation
At 01 June 22-25,00025,000
Additions1,339-1,339
At 31 May 231,33925,00026,339
Depreciation and impairment
At 01 June 22-10,85410,854
Charge for year563,5363,592
At 31 May 235614,39014,446
Net book value
At 31 May 231,28310,61011,893
At 31 May 22-14,14614,146
8.Stocks

2023

2022

££
Finished goods45,17546,755
Total45,17546,755
9.Debtors

2023

2022

££
Other debtors3,2346,709
Total3,2346,709
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.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables5,321893
Taxation and social security28,61616,858
Dividends payable1,40042,000
Other creditors37,52655,707
Total72,863115,458
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.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts49,20849,208
Total49,20849,208
12.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)-3,584
Total-3,584