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REGISTERED NUMBER: 07842552 (England and Wales)















Financial Statements For The Year Ended 31st March 2023

for

Direct Commercial Finance Limited

Direct Commercial Finance Limited (Registered number: 07842552)

Contents of the Financial Statements
For The Year Ended 31st March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Direct Commercial Finance Limited

Company Information
For The Year Ended 31st March 2023







DIRECTOR: O L Brunning





REGISTERED OFFICE: No 9 Magazine B Ordnance Yard
Upnor Road
Lower Upnor
Rochester
Kent
ME2 4UY





REGISTERED NUMBER: 07842552 (England and Wales)





ACCOUNTANTS: Beak Kemmenoe
Chartered Accountants
1-3 Manor Road
Chatham
Kent
ME4 6AE

Direct Commercial Finance Limited (Registered number: 07842552)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 120,823 109,722

CURRENT ASSETS
Debtors 6 353,648 182,329
Cash at bank 14,400 32,579
368,048 214,908
CREDITORS
Amounts falling due within one year 7 237,287 131,481
NET CURRENT ASSETS 130,761 83,427
TOTAL ASSETS LESS CURRENT
LIABILITIES

251,584

193,149

CREDITORS
Amounts falling due after more than one
year

8

(8,572

)

-

PROVISIONS FOR LIABILITIES (22,956 ) (20,847 )
NET ASSETS 220,056 172,302

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 219,856 172,102
SHAREHOLDERS' FUNDS 220,056 172,302

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Direct Commercial Finance Limited (Registered number: 07842552)

Balance Sheet - continued
31st March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd October 2023 and were signed by:





O L Brunning - Director


Direct Commercial Finance Limited (Registered number: 07842552)

Notes to the Financial Statements
For The Year Ended 31st March 2023


1. STATUTORY INFORMATION

Direct Commercial Finance Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20-25% on reducing balance and 10% - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 end 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.

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.

Direct Commercial Finance Limited (Registered number: 07842552)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023


4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2022 298,706
Additions 26,108
At 31st March 2023 324,814
DEPRECIATION
At 1st April 2022 188,984
Charge for year 15,007
At 31st March 2023 203,991
NET BOOK VALUE
At 31st March 2023 120,823
At 31st March 2022 109,722

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 15,900
At 31st March 2023 15,900
DEPRECIATION
Charge for year 928
At 31st March 2023 928
NET BOOK VALUE
At 31st March 2023 14,972

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 155,326 163,513
Other debtors and prepayments 74,452 18,816
229,778 182,329

Direct Commercial Finance Limited (Registered number: 07842552)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023


6. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 123,870 -

Aggregate amounts 353,648 182,329

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 5,021 -
Trade creditors 177,059 24,000
Corporation tax 8,400 6,768
Other creditors and accruals 46,807 100,713
237,287 131,481

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 8,572 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 13,593 -

10. ULTIMATE CONTROLLING PARTY

The controlling party is O L Brunning.