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Registered Number: 09932399
England and Wales

 

 

 

DHAMMATEK LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
Directors Satyapal Singh
Anil Kumar
Registered Number 09932399
Registered Office 47 Hythegate
Peterborough
PE4 7ZP
Accountants Sovereign Accountants
6 Blenheim Court
Peppercorn Close
Peterborough
PE1 2DU
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 36,469    44,956 
36,469    44,956 
Current assets      
Stocks 4 1,713,409    1,028,530 
Debtors 5 1,196,565    623,898 
Cash at bank and in hand 259,854    142,183 
3,169,828    1,794,611 
Creditors: amount falling due within one year 6 (1,902,012)   (818,089)
Net current assets 1,267,816    976,522 
 
Total assets less current liabilities 1,304,285    1,021,478 
Creditors: amount falling due after more than one year 7 (107,333)   (182,168)
Provisions for liabilities 8 (6,929)   (8,542)
Net assets 1,190,023    830,768 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 1,189,923    830,668 
Shareholder's funds 1,190,023    830,768 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 November 2023 and were signed on its behalf by:


-------------------------------
Anil Kumar
Director
2
General Information
DHAMMATEK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09932399, registration address 47 Hythegate, Peterborough, PE4 7ZP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 33% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 7 (2022 : 10).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 March 2022 25,500    30,589    14,718    70,807 
Additions      
Disposals      
At 28 February 2023 25,500    30,589    14,718    70,807 
Depreciation
At 01 March 2022 3,400    11,278    11,173    25,851 
Charge for year 4,420    2,897    1,170    8,487 
On disposals      
At 28 February 2023 7,820    14,175    12,343    34,338 
Net book values
Closing balance as at 28 February 2023 17,680    16,414    2,375    36,469 
Opening balance as at 01 March 2022 22,100    19,311    3,545    44,956 


4.

Stocks

2023
£
  2022
£
Stocks 1,713,409    1,028,530 
1,713,409    1,028,530 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 47,531    394,515 
Prepayments & Accrued Income 1,142,878   
Other Debtors 6,156    229,383 
1,196,565    623,898 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 1,298,087    362,434 
Bank Loans & Overdrafts 74,835    128,100 
Corporation Tax 138,625    66,830 
PAYE & Social Security 2,180    3,894 
Other Creditors 169,289    22,548 
Directors' Current Accounts 8,121    10,921 
VAT 210,875    223,362 
1,902,012    818,089 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 107,333    182,168 
107,333    182,168 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 6,929    8,542 
6,929    8,542 

9.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

3