Registered number
05550555
DD ASSOCIATES LIMITED
Filleted Accounts
31 October 2023
DD ASSOCIATES LIMITED
Registered number: 05550555
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 35,000 35,000
Tangible assets 4 412 105
35,412 35,105
Current assets
Debtors 5 370 361
Cash at bank and in hand 75,764 85,067
76,134 85,428
Creditors: amounts falling due within one year 6 (57,469) (66,984)
Net current assets 18,665 18,444
Net assets 54,077 53,549
Capital and reserves
Called up share capital 100 100
Profit and loss account 53,977 53,449
Shareholders' funds 54,077 53,549
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.
Devendra Tailor
Director
Approved by the board on 27 November 2023
DD ASSOCIATES LIMITED
Notes to the Accounts
for the year ended 31 October 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Fixtures, fittings and equipment 25% on net book value
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2022 35,000
At 31 October 2023 35,000
Amortisation
At 31 October 2023 -
Net book value
At 31 October 2023 35,000
At 31 October 2022 35,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Furniture, fixtures & equipment
£
Cost
At 1 November 2022 399
Additions 550
Disposals (399)
At 31 October 2023 550
Depreciation
At 1 November 2022 294
Charge for the year 138
On disposals (294)
At 31 October 2023 138
Net book value
At 31 October 2023 412
At 31 October 2022 105
5 Debtors 2023 2022
£ £
Prepayments 370 361
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,592 2,291
Other creditors 55,877 64,693
57,469 66,984
7 Other information
DD ASSOCIATES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
39 Roydale Close
Loughborough
LE11 5UW
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