Registered number
07425622
TREVOR DANN'S COMPANY LIMITED
Filleted Accounts
31 March 2023
TREVOR DANN'S COMPANY LIMITED
Registered number: 07425622
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,887 4,264
Current assets
Debtors 4 46,615 52,101
Cash at bank and in hand 7,289 31,041
53,904 83,142
Creditors: amounts falling due within one year 5 (56,027) (70,608)
Net current (liabilities)/assets (2,123) 12,534
Net assets 1,764 16,798
Capital and reserves
Called up share capital 20 20
Profit and loss account 1,744 16,778
Shareholders' funds 1,764 16,798
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.
Mr T Dann
Director
Approved by the board on 2 November 2023
TREVOR DANN'S COMPANY LIMITED
Notes to the Accounts
for the year ended 31 March 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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
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:
Office equipment 25% reducing balance
Grant Income
Grants which are dependent on a performance related condition, are accounted for under the performance model, ie income is recognised when the performance related conditions are met.
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Office equipment
£
Cost
At 1 April 2022 7,126
Additions 916
At 31 March 2023 8,042
Depreciation
At 1 April 2022 2,862
Charge for the year 1,293
At 31 March 2023 4,155
Net book value
At 31 March 2023 3,887
At 31 March 2022 4,264
4 Debtors 2023 2022
£ £
Trade debtors 42,432 47,005
Other debtors 4,183 5,096
46,615 52,101
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 20,389 20,361
Taxation and social security costs 16,539 21,747
Other creditors 19,099 28,500
56,027 70,608
6 Related party transactions
The company has entered into a licence agreement with the directors in respect of business use of their home, whereby a fair proportion of household expenses are reimbursed. During the year £1,100 (2022 £950) was paid in respect of such expenses.
7 Other information
TREVOR DANN'S COMPANY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
10 Pound Green
Guilden Morden
Royston
Herts
SG8 0JZ
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