IRIS Accounts Production v23.3.1.45 01315744 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure013157442022-03-31013157442023-03-31013157442022-04-012023-03-31013157442021-03-31013157442021-04-012022-03-31013157442022-03-3101315744ns16:EnglandWales2022-04-012023-03-3101315744ns15:PoundSterling2022-04-012023-03-3101315744ns11:Director12022-04-012023-03-3101315744ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3101315744ns11:SmallEntities2022-04-012023-03-3101315744ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3101315744ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3101315744ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3101315744ns11:FullAccounts2022-04-012023-03-3101315744ns11:Director22022-04-012023-03-3101315744ns11:RegisteredOffice2022-04-012023-03-3101315744ns6:CurrentFinancialInstruments2023-03-3101315744ns6:CurrentFinancialInstruments2022-03-3101315744ns6:ShareCapital2023-03-3101315744ns6:ShareCapital2022-03-3101315744ns6:RetainedEarningsAccumulatedLosses2023-03-3101315744ns6:RetainedEarningsAccumulatedLosses2022-03-3101315744ns6:PlantMachinery2022-03-3101315744ns6:PlantMachinery2022-04-012023-03-3101315744ns6:PlantMachinery2023-03-3101315744ns6:PlantMachinery2022-03-3101315744ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3101315744ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3101315744ns6:CurrentFinancialInstruments2022-04-012023-03-31
REGISTERED NUMBER: 01315744 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Dub'l Lif (Taunton) Limited

Dub'l Lif (Taunton) Limited (Registered number: 01315744)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Dub'l Lif (Taunton) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: A J Bonfield
M Petrich





REGISTERED OFFICE: Belvedere Trading Estate
TAUNTON
Somerset
TA1 1BH





REGISTERED NUMBER: 01315744 (England and Wales)





ACCOUNTANTS: A C Mole
Chartered Accountants
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

Dub'l Lif (Taunton) Limited (Registered number: 01315744)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,463 66,874

CURRENT ASSETS
Stocks 5 245,203 200,825
Debtors 6 86,971 97,664
Cash at bank and in hand 276,571 247,054
608,745 545,543
CREDITORS
Amounts falling due within one year 7 60,275 48,044
NET CURRENT ASSETS 548,470 497,499
TOTAL ASSETS LESS CURRENT
LIABILITIES

600,933

564,373

PROVISIONS FOR LIABILITIES 12,298 15,901
NET ASSETS 588,635 548,472

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 587,635 547,472
SHAREHOLDERS' FUNDS 588,635 548,472

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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by:





M Petrich - Director


Dub'l Lif (Taunton) Limited (Registered number: 01315744)

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

1. STATUTORY INFORMATION

Dub'l Lif (Taunton) 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.

The percentage of turnover exported was 12.93% (2022 - 7.63%).

Tangible fixed assets
Tangible assets are initially recognised at cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful economic life.

Plant and machinery- 15% on reducing balance
Computer equipment- 33% on cost
Motor vehicles- 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The pension cost charge represents contributions payable by the company and amounted to £8,027 (2022 - £7,690).

Dub'l Lif (Taunton) Limited (Registered number: 01315744)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into sterling at the balance sheet date. Exchange differences are included in the profit and loss account for the corresponding period.

Government Coronavirus Grants

Government grants received in respect of Coronavirus assistance are recognised using the accruals method.
Under the accruals method, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Financial instruments
i) Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently measured at amortised cost.

At the balance sheet date financial assets are assessed for evidence of impairment. If an asset is impaired the impairment loss is recognised in the income statement.

ii) Financial liabilities
Basic financial liabilities, including trade and other payables and directors loans, are initially recognised at transaction price and subsequently measured at amortised cost.

Critical accounting policies and estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The directors are of the opinion that there are no estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 347,559
Additions 158
At 31 March 2023 347,717
DEPRECIATION
At 1 April 2022 280,685
Charge for year 14,569
At 31 March 2023 295,254
NET BOOK VALUE
At 31 March 2023 52,463
At 31 March 2022 66,874

Dub'l Lif (Taunton) Limited (Registered number: 01315744)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. STOCKS
2023 2022
£    £   
Finished goods 167,590 146,925
Raw materials 77,613 53,900
245,203 200,825

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 76,683 87,870
Other debtors 10,288 9,794
86,971 97,664

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 15,729 8,832
Tax 20,116 5,290
Other taxes and social security 5,307 18,338
Other creditors 19,123 15,584
60,275 48,044

The Director's Current Account is interest-free and repayable on demand.