Dulwich DIY Limited 07903412 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of retail sale of hardware, paints and glass in specialised stores. Digita Accounts Production Advanced 6.30.9574.0 true true true 07903412 2022-04-01 2023-03-31 07903412 2023-03-31 07903412 bus:Director1 1 2023-03-31 07903412 core:RetainedEarningsAccumulatedLosses 2023-03-31 07903412 core:ShareCapital 2023-03-31 07903412 core:CurrentFinancialInstruments 2023-03-31 07903412 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07903412 core:FurnitureFittingsToolsEquipment 2023-03-31 07903412 core:MotorVehicles 2023-03-31 07903412 bus:SmallEntities 2022-04-01 2023-03-31 07903412 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07903412 bus:AbridgedAccounts 2022-04-01 2023-03-31 07903412 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07903412 bus:RegisteredOffice 2022-04-01 2023-03-31 07903412 bus:Director1 2022-04-01 2023-03-31 07903412 bus:Director1 1 2022-04-01 2023-03-31 07903412 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07903412 bus:Agent1 2022-04-01 2023-03-31 07903412 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 07903412 core:ShareCapital 2022-04-01 2023-03-31 07903412 core:Goodwill 2022-04-01 2023-03-31 07903412 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 07903412 core:MotorVehicles 2022-04-01 2023-03-31 07903412 core:OtherRelatedParties 2022-04-01 2023-03-31 07903412 1 2022-04-01 2023-03-31 07903412 countries:UnitedKingdom 2022-04-01 2023-03-31 07903412 2022-03-31 07903412 bus:Director1 1 2022-03-31 07903412 core:RetainedEarningsAccumulatedLosses 2022-03-31 07903412 core:ShareCapital 2022-03-31 07903412 core:FurnitureFittingsToolsEquipment 2022-03-31 07903412 core:MotorVehicles 2022-03-31 07903412 2021-02-01 2022-03-31 07903412 2022-03-31 07903412 bus:Director1 1 2022-03-31 07903412 core:RetainedEarningsAccumulatedLosses 2022-03-31 07903412 core:ShareCapital 2022-03-31 07903412 core:CurrentFinancialInstruments 2022-03-31 07903412 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 07903412 core:FurnitureFittingsToolsEquipment 2022-03-31 07903412 core:MotorVehicles 2022-03-31 07903412 bus:Director1 1 2021-02-01 2022-03-31 07903412 core:RetainedEarningsAccumulatedLosses 2021-02-01 2022-03-31 07903412 core:ShareCapital 2021-02-01 2022-03-31 07903412 2021-01-31 07903412 bus:Director1 1 2021-01-31 07903412 core:RetainedEarningsAccumulatedLosses 2021-01-31 07903412 core:ShareCapital 2021-01-31 iso4217:GBP xbrli:pure

Registration number: 07903412

Dulwich DIY Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

Dulwich DIY Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Abridged Financial Statements

9 to 15

 

Dulwich DIY Limited

Company Information

Director

S Pindoria

Registered office

C/o Kishens Limited
13 Montpelier Avenue
Bexley
Kent
DA5 3AP

Accountants

Kishens Limited
Chartered Accountants
13 Montpelier Avenue
Bexley
Kent
DA5 3AP

 

Dulwich DIY Limited

Director's Report for the Year Ended 31 March 2023

The director presents his report and the abridged financial statements for the year ended 31 March 2023.

Director of the company

The director who held office during the year was as follows:

S Pindoria

Principal activity

The principal activity of the company is that of retail sale of hardware, paints and glass in specialised stores.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 14 October 2023
 

.........................................
S Pindoria
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Dulwich DIY Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dulwich DIY Limited for the year ended 31 March 2023 as set out on pages 4 to 15 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Dulwich DIY Limited, as a body, in accordance with the terms of our engagement letter dated 15 November 2012. Our work has been undertaken solely to prepare for your approval the accounts of Dulwich DIY Limited and state those matters that we have agreed to state to the Board of Directors of Dulwich DIY Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dulwich DIY Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Dulwich DIY Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Dulwich DIY Limited. You consider that Dulwich DIY Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Dulwich DIY Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Kishens Limited
Chartered Accountants
13 Montpelier Avenue
Bexley
Kent
DA5 3AP

14 October 2023

 

Dulwich DIY Limited

Abridged Profit and Loss Account for the Year Ended 31 March 2023

Note

2023
£

2022
£

Gross profit

 

458,873

514,865

Administrative expenses

 

(302,553)

(336,982)

Other interest receivable and similar income

 

1,543

26

Interest payable and similar expenses

 

(74)

(91)

Profit before tax

4

157,789

177,818

Tax on profit

 

(30,380)

(36,605)

Profit for the financial year

 

127,409

141,213

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Dulwich DIY Limited

Statement of Comprehensive Income for the Year Ended 31 March 2023

2023
£

2022
£

Profit for the year

127,409

141,213

Total comprehensive income for the year

127,409

141,213

 

Dulwich DIY Limited

(Registration number: 07903412)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed Assets

 

Intangible assets

5

56,667

76,667

Tangible Assets

6

22,314

29,486

 

78,981

106,153

Current assets

 

Stocks

7

50,000

65,000

Debtors

8

410,020

414,376

Cash at bank and in hand

 

411,681

350,564

 

871,701

829,940

Prepayments and accrued income

 

7,678

10,306

Creditors: Amounts falling due within one year

(149,779)

(249,266)

Net current assets

 

729,600

590,980

Total assets less current liabilities

 

808,581

697,133

Provisions for liabilities

(4,240)

(5,201)

Net assets

 

804,341

691,932

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

804,241

691,832

Shareholders' funds

 

804,341

691,932

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Dulwich DIY Limited

(Registration number: 07903412)
Abridged Balance Sheet as at 31 March 2023

Approved and authorised by the director on 14 October 2023
 

.........................................
S Pindoria
Director

 

Dulwich DIY Limited

Statement of Changes in Equity for the Year Ended 31 March 2023

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

100

691,832

691,932

Profit for the year

-

127,409

127,409

Dividends

-

(15,000)

(15,000)

At 31 March 2023

100

804,241

804,341

Share capital
£

Retained earnings
£

Total
£

At 1 February 2021

100

601,619

601,719

Profit for the year

-

141,213

141,213

Dividends

-

(51,000)

(51,000)

At 31 March 2022

100

691,832

691,932

 

Dulwich DIY Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
C/o Kishens Limited
13 Montpelier Avenue
Bexley
Kent
DA5 3AP
England

These financial statements were authorised for issue by the director on 14 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods or on completion of the designated services;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Dulwich DIY Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% reducing balance

Motor Van

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Amortized over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Dulwich DIY Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Dulwich DIY Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2022 - 7).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

7,439

12,142

Amortisation expense

20,000

23,333

 

Dulwich DIY Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

5

Intangible assets

Total
£

Cost or valuation

At 1 April 2022

250,000

At 31 March 2023

250,000

Amortisation

At 1 April 2022

173,333

Amortisation charge

20,000

At 31 March 2023

193,333

Carrying amount

At 31 March 2023

56,667

At 31 March 2022

76,667

6

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

59,021

18,815

77,836

Additions

267

-

267

At 31 March 2023

59,288

18,815

78,103

Depreciation

At 1 April 2022

39,530

8,820

48,350

Charge for the year

4,940

2,499

7,439

At 31 March 2023

44,470

11,319

55,789

Carrying amount

At 31 March 2023

14,818

7,496

22,314

At 31 March 2022

19,491

9,995

29,486

 

Dulwich DIY Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

7

Stocks

2023
£

2022
£

Finished goods and goods for resale

50,000

65,000

8

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

10

Dividends

Final dividends paid

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of 150.00 (2022 - 510.00) per each ordinary shares

 

15,000

 

51,000

         

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of 150 (2022 - 510) per each ordinary shares

 

15,000

 

51,000

         

Recommended final dividends paid and not recognised in the accounts

The director is recommending the following final dividends:

These dividends have not been accrued in the balance sheet.

 

Dulwich DIY Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

11

Related party transactions

Transactions with the director

2023

At 1 April 2022
£

Advances to director
£

At 31 March 2023
£

S Pindoria

(796)

(3,910)

(4,706)

       
     

 

2022

At 1 February 2021
£

Advances to director
£

At 31 March 2022
£

S Pindoria

(7,202)

6,406

(796)

       
     

 

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

17,586

20,517

Contributions paid to money purchase schemes

80,000

80,000

97,586

100,517

Dividends paid to the director

   

2023
£

 

2022
£

S Pindoria

       

 

7,500

 

25,500

         

Summary of transactions with other related parties

During the year company paid dividend to shareholder V Pindoria of £7,500 (2022: £25,500)
 

12

Parent and ultimate parent undertaking

The ultimate controlling party is the director S Pindoria and shareholder V Pindoria.