Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3143trueNo description of principal activity2022-04-01false38trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06704223 2022-04-01 2023-03-31 06704223 2021-04-01 2022-03-31 06704223 2023-03-31 06704223 2022-03-31 06704223 c:Director3 2022-04-01 2023-03-31 06704223 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 06704223 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 06704223 d:Buildings d:ShortLeaseholdAssets 2023-03-31 06704223 d:Buildings d:ShortLeaseholdAssets 2022-03-31 06704223 d:PlantMachinery 2022-04-01 2023-03-31 06704223 d:PlantMachinery 2023-03-31 06704223 d:PlantMachinery 2022-03-31 06704223 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06704223 d:MotorVehicles 2022-04-01 2023-03-31 06704223 d:MotorVehicles 2023-03-31 06704223 d:MotorVehicles 2022-03-31 06704223 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06704223 d:FurnitureFittings 2022-04-01 2023-03-31 06704223 d:FurnitureFittings 2023-03-31 06704223 d:FurnitureFittings 2022-03-31 06704223 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06704223 d:OfficeEquipment 2022-04-01 2023-03-31 06704223 d:OfficeEquipment 2023-03-31 06704223 d:OfficeEquipment 2022-03-31 06704223 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06704223 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06704223 d:CurrentFinancialInstruments 2023-03-31 06704223 d:CurrentFinancialInstruments 2022-03-31 06704223 d:Non-currentFinancialInstruments 2023-03-31 06704223 d:Non-currentFinancialInstruments 2022-03-31 06704223 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06704223 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 06704223 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06704223 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 06704223 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 06704223 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 06704223 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 06704223 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 06704223 d:ShareCapital 2023-03-31 06704223 d:ShareCapital 2022-03-31 06704223 d:CapitalRedemptionReserve 2023-03-31 06704223 d:CapitalRedemptionReserve 2022-03-31 06704223 d:RetainedEarningsAccumulatedLosses 2023-03-31 06704223 d:RetainedEarningsAccumulatedLosses 2022-03-31 06704223 c:FRS102 2022-04-01 2023-03-31 06704223 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06704223 c:FullAccounts 2022-04-01 2023-03-31 06704223 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06704223 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 06704223 d:HirePurchaseContracts d:WithinOneYear 2022-03-31 06704223 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 06704223 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-31 06704223 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 06704223 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 06704223









DNS RETAIL LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
DNS RETAIL LIMITED
REGISTERED NUMBER: 06704223

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
161,588
58,347

Current assets
  

Stocks
  
422,649
322,347

Debtors: amounts falling due within one year
 5 
121,534
124,950

Cash at bank and in hand
 6 
294,719
281,916

  
838,902
729,213

Creditors: amounts falling due within one year
 7 
(379,380)
(292,625)

Net current assets
  
 
 
459,522
 
 
436,588

Total assets less current liabilities
  
621,110
494,935

Creditors: amounts falling due after more than one year
 8 
(61,460)
(38,750)

Provisions for liabilities
  

Deferred tax
 11 
(20,046)
-

Other provisions
  
(60,486)
(57,193)

  
 
 
(80,532)
 
 
(57,193)

Net assets
  
479,118
398,992


Capital and reserves
  

Called up share capital 
  
30
30

Capital redemption reserve
  
700
700

Profit and loss account
  
478,388
398,262

  
479,118
398,992


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.

Page 1

 
DNS RETAIL LIMITED
REGISTERED NUMBER: 06704223
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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.

Page 2

 
DNS RETAIL LIMITED
REGISTERED NUMBER: 06704223
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 November 2023.




................................................
D Stankevicius
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
DNS RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Lituanica Retail Limited ("The Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is 3 Gallions Close, Barking, Essex, IG11 0JD. 

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

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.

Page 4

 
DNS RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Improvements to property
-
6.67% straight line
Plant and machinery
-
15% straight line
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
15% straight line
Office equipment
-
33% straight line

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.

  
2.4
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. 
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.

  
2.5
Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.6

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.

  
2.7
Creditors

Short term creditors are measured at the transaction price, less any impairment.

Page 5

 
DNS RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  
2.8
Foreign currency translation

The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of income and retained earnings except when deferred in other comprehensive income as qualifying cash flow hedges.
All foreign exchange gains and losses are presented in the Statement of income and retained earnings within 'administrative expenses'.

 
2.9

Government grants

Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

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.

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 
DNS RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

Borrowing costs

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

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 38 (2022 - 43).

Page 7

 
DNS RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Improvements to property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost


At 1 April 2022
30,703
491,599
23,998
233,778
159,880


Additions
-
66,404
60,280
10,012
526



At 31 March 2023

30,703
558,003
84,278
243,790
160,406



Depreciation


At 1 April 2022
22,308
463,150
7,080
229,195
159,878


Charge for the year on owned assets
2,047
23,226
5,547
3,105
56



At 31 March 2023

24,355
486,376
12,627
232,300
159,934



Net book value



At 31 March 2023
6,348
71,627
71,651
11,490
472



At 31 March 2022
8,395
28,449
16,918
4,583
2
Page 8

 
DNS RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

           4.Tangible fixed assets (continued)


Total

£



Cost


At 1 April 2022
939,958


Additions
137,222



At 31 March 2023

1,077,180



Depreciation


At 1 April 2022
881,611


Charge for the year on owned assets
33,981



At 31 March 2023

915,592



Net book value



At 31 March 2023
161,588



At 31 March 2022
58,347

Page 9

 
DNS RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
-
5,948

Other debtors
81,153
73,158

Prepayments and accrued income
40,381
40,485

Deferred taxation
-
5,359

121,534
124,950



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
294,719
281,916



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
15,000
15,000

Trade creditors
267,900
206,266

Corporation tax
20,206
11,153

Obligations under finance lease and hire purchase contracts
10,056
-

Other creditors
26,425
2,487

Accruals and deferred income
39,793
57,719

379,380
292,625



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
23,750
38,750

Net obligations under finance leases and hire purchase contracts
37,710
-


Page 10

 
DNS RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
15,000
15,000

Amounts falling due 1-2 years

Bank loans
15,000
15,000

Amounts falling due 2-5 years

Bank loans
8,750
23,750

38,750
53,750


This is in relation to a CBIL loan for £60,000, repayable after 5 years. Interest will be charged at 2.95% after a repayment holiday of one year. The loan is secured against all fixed and floating assets of the business. 


10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
10,056
-

Between 1-5 years
37,710
-

47,766
-

Hire purchase liabilities are secured against the assets to which they relate.


11.


Deferred taxation




2023


£






At beginning of year
5,359


Charged to profit or loss
(25,405)



At end of year
(20,046)

Page 11

 
DNS RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
11.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(20,046)
5,359


12.

Provisions

2023
2022
£
£
As at 1 April

57,194

54,772
 
Net discounts earned/(used)

3,292

2,422
 
As at 31 March

60,486

57,194
 

The provision represents the cumulative value of discounts unused by customers as part of the loyalty card scheme run by the company at the year end


13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £17,129 (2022 - £15,783). Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors. 


14.


Controlling party

The company regards the ultimate controlling party to be Mr D Stankevicius.

 
Page 12