Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falsehire of survey equipment00trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10698857 2022-04-01 2023-03-31 10698857 2021-04-01 2022-03-31 10698857 2023-03-31 10698857 2022-03-31 10698857 c:Director1 2022-04-01 2023-03-31 10698857 d:Buildings 2022-04-01 2023-03-31 10698857 d:Buildings 2023-03-31 10698857 d:Buildings 2022-03-31 10698857 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10698857 d:Buildings d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 10698857 d:PlantMachinery 2022-04-01 2023-03-31 10698857 d:PlantMachinery 2023-03-31 10698857 d:PlantMachinery 2022-03-31 10698857 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10698857 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 10698857 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10698857 d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 10698857 d:CurrentFinancialInstruments 2023-03-31 10698857 d:CurrentFinancialInstruments 2022-03-31 10698857 d:Non-currentFinancialInstruments 2023-03-31 10698857 d:Non-currentFinancialInstruments 2022-03-31 10698857 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10698857 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10698857 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10698857 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 10698857 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 10698857 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 10698857 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 10698857 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 10698857 d:ShareCapital 2023-03-31 10698857 d:ShareCapital 2022-03-31 10698857 d:RetainedEarningsAccumulatedLosses 2023-03-31 10698857 d:RetainedEarningsAccumulatedLosses 2022-03-31 10698857 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 10698857 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 10698857 c:FRS102 2022-04-01 2023-03-31 10698857 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10698857 c:FullAccounts 2022-04-01 2023-03-31 10698857 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10698857 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 10698857 d:HirePurchaseContracts d:WithinOneYear 2022-03-31 10698857 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 10698857 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-31 10698857 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 10698857 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-03-31 10698857 d:LeasedAssetsHeldAsLessee 2023-03-31 10698857 d:LeasedAssetsHeldAsLessee 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 10698857









DAK (SOUTHERN) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
DAK (SOUTHERN) LIMITED
REGISTERED NUMBER: 10698857

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
694,450
521,894

  
694,450
521,894

Current assets
  

Stocks
 5 
-
3,675

Debtors: amounts falling due within one year
 6 
-
94

Cash at bank and in hand
 7 
14,165
17,366

  
14,165
21,135

Creditors: amounts falling due within one year
 8 
(331,275)
(265,102)

Net current liabilities
  
 
 
(317,110)
 
 
(243,967)

Total assets less current liabilities
  
377,340
277,927

Creditors: amounts falling due after more than one year
 9 
(184,462)
(206,770)

  

Net assets
  
192,878
71,157


Capital and reserves
  

Called up share capital 
  
140
140

Profit and loss account
  
192,738
71,017

  
192,878
71,157

Page 1

 
DAK (SOUTHERN) LIMITED
REGISTERED NUMBER: 10698857
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 November 2023.




................................................
Darren Lawrence
Director

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Company is a private company limited by shares, incorporated in England. The principal activity of the Company was the hire of survey equipment and rental income.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
10%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The Company has no employees other than the director, who did not receive any remuneration (2022 - £NIL).

Page 5

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Freehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 April 2022
285,711
284,459
570,170


Additions
-
218,000
218,000



At 31 March 2023

285,711
502,459
788,170



Depreciation


At 1 April 2022
-
48,276
48,276


Charge for the year on owned assets
-
42,799
42,799


Charge for the year on financed assets
-
2,645
2,645



At 31 March 2023

-
93,720
93,720



Net book value



At 31 March 2023
285,711
408,739
694,450



At 31 March 2022
285,711
236,183
521,894

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
23,584
40,153

23,584
40,153


5.


Stocks

2023
2022
£
£

Work in progress
-
3,675

-
3,675


Page 6

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Other debtors
-
94

-
94



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
14,165
17,366

14,165
17,366


Page 7

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
14,000
14,000

Trade creditors
-
359

Amounts owed to connected company
54,683
231,452

Other taxation and social security
47
-

Obligations under finance lease and hire purchase contracts
10,770
17,916

Other creditors
250,000
-

Accruals and deferred income
1,775
1,375

331,275
265,102


The following liabilities were secured:

2023
2022
£
£



Obligations under finance lease and hire purchase contracts
10,770
17,916

Bank loans
14,000
14,000

24,770
31,916

Details of security provided:

The hire purchase contract is secured over the asset concerned. The bank loan is secured over the property.

Page 8

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
184,462
196,000

Net obligations under finance leases and hire purchase contracts
-
10,770

184,462
206,770


The following liabilities were secured:

2023
2022
£
£



Net obligations under finance leases and hire purchase contracts
-
10,770

Bank loan
184,462
196,000

184,462
206,770

Details of security provided:

The hire purchase contract is secured over the asset concerned. The bank loan is secured over the property.


10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
14,000
14,000

Amounts falling due 1-2 years

Bank loans
14,000
14,000

Amounts falling due 2-5 years

Bank loans
170,462
182,000


198,462
210,000


Page 9

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
10,770
17,916

Between 1-5 years
-
10,770

10,770
28,686


12.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
14,165
17,366




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


13.


Related party transactions

During the year the Company made sales to One + Point Limited, a company in which the director, Darren Lawrence, is also a director and shareholder, amounting to £189,035 (2022 - £98,425) and purchases amounting to £218,000 (2022 - £189,500). At the year end a balance of £54,683 (2022 - £231,452) was owing to One + Point Limited.


14.


Controlling party

The Company was controlled by the director, Darren Lawrence, by virtue of his shareholding as detailed in the director's report.

 
Page 10