IRIS Accounts Production v23.3.1.45 06127965 Board of Directors 1.3.22 28.2.23 28.2.23 0 0 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh061279652022-02-28061279652023-02-28061279652022-03-012023-02-28061279652021-01-31061279652021-02-012022-02-28061279652022-02-2806127965ns10:Originalns15:EnglandWales2022-03-012023-02-2806127965ns14:PoundSterlingns10:Original2022-03-012023-02-2806127965ns10:Originalns10:Director12022-03-012023-02-2806127965ns10:Original2022-03-012023-02-2806127965ns10:Original2023-02-2806127965ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2806127965ns10:Originalns10:SmallEntities2022-03-012023-02-2806127965ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-2806127965ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2806127965ns10:Originalns10:FullAccounts2022-03-012023-02-2806127965ns10:Original2021-02-012022-02-2806127965ns10:Original12022-03-012023-02-2806127965ns10:Originalns10:OrdinaryShareClass12022-03-012023-02-2806127965ns10:Originalns10:Director22022-03-012023-02-2806127965ns10:Originalns10:RegisteredOffice2022-03-012023-02-2806127965ns10:Original2022-02-2806127965ns10:Originalns5:CurrentFinancialInstruments2023-02-2806127965ns10:Originalns5:CurrentFinancialInstruments2022-02-2806127965ns10:Originalns5:Non-currentFinancialInstruments2023-02-2806127965ns10:Originalns5:Non-currentFinancialInstruments2022-02-2806127965ns5:ShareCapitalns10:Original2023-02-2806127965ns5:ShareCapitalns10:Original2022-02-2806127965ns10:Originalns5:RevaluationReserve2023-02-2806127965ns10:Originalns5:RevaluationReserve2022-02-2806127965ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2806127965ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2806127965ns10:Originalns5:NetGoodwill2022-03-012023-02-2806127965ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-03-012023-02-2806127965ns10:Originalns5:NetGoodwill2022-02-2806127965ns10:Originalns5:NetGoodwill2023-02-2806127965ns10:Originalns5:NetGoodwill2022-02-2806127965ns10:Originalns5:LandBuildings2022-02-2806127965ns10:Originalns5:PlantMachinery2022-02-2806127965ns10:Originalns5:MotorVehicles2022-02-2806127965ns10:Original2022-02-2806127965ns10:Originalns5:LandBuildings2022-03-012023-02-2806127965ns10:Originalns5:PlantMachinery2022-03-012023-02-2806127965ns10:Originalns5:MotorVehicles2022-03-012023-02-2806127965ns10:Originalns5:LandBuildings2023-02-2806127965ns10:Originalns5:PlantMachinery2023-02-2806127965ns10:Originalns5:MotorVehicles2023-02-2806127965ns10:Originalns5:LandBuildings2022-02-2806127965ns10:Originalns5:PlantMachinery2022-02-2806127965ns10:Originalns5:MotorVehicles2022-02-2806127965ns10:Originalns5:CostValuation2022-02-2806127965ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2806127965ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2806127965ns10:Originalns10:OrdinaryShareClass12023-02-2806127965ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2806127965ns10:Originalns5:RevaluationReserve2022-02-2806127965ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-012023-02-28
REGISTERED NUMBER: 06127965 (England and Wales)















Financial Statements for the Year Ended 28 February 2023

for

Daas Trading Limited

Daas Trading Limited (Registered number: 06127965)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Daas Trading Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: A D Atim
Mrs A Atim





REGISTERED OFFICE: 12b Commercial Road
London
N18 1TP





REGISTERED NUMBER: 06127965 (England and Wales)





ACCOUNTANTS: Musalar & Co Accountants
international Accountant &Tax Consultant
FAIA, FFA, FCPA, FFTA
536 Lordship Lane
London
N22 5BY

Daas Trading Limited (Registered number: 06127965)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,000 12,000
Tangible assets 5 659,425 674,332
Investments 6 330,737 330,737
1,000,162 1,017,069

CURRENT ASSETS
Debtors 7 182,278 170,606
Cash at bank and in hand 15,240 3,536
197,518 174,142
CREDITORS
Amounts falling due within one year 8 5,197 11,375
NET CURRENT ASSETS 192,321 162,767
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,192,483

1,179,836

CREDITORS
Amounts falling due after more than one
year

9

540,349

576,656
NET ASSETS 652,134 603,180

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Revaluation reserve 12 67,500 67,500
Retained earnings 12 583,634 534,680
SHAREHOLDERS' FUNDS 652,134 603,180

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Daas Trading Limited (Registered number: 06127965)

Balance Sheet - continued
28 February 2023


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 28 November 2023 and were signed on its behalf by:





A D Atim - Director


Daas Trading Limited (Registered number: 06127965)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Daas Trading 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

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.

Daas Trading Limited (Registered number: 06127965)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 40,000
AMORTISATION
At 1 March 2022 28,000
Amortisation for year 2,000
At 28 February 2023 30,000
NET BOOK VALUE
At 28 February 2023 10,000
At 28 February 2022 12,000

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 March 2022
and 28 February 2023 787,500 230,687 16,090 1,034,277
DEPRECIATION
At 1 March 2022 115,200 228,656 16,089 359,945
Charge for year 14,400 507 - 14,907
At 28 February 2023 129,600 229,163 16,089 374,852
NET BOOK VALUE
At 28 February 2023 657,900 1,524 1 659,425
At 28 February 2022 672,300 2,031 1 674,332

Daas Trading Limited (Registered number: 06127965)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2022
and 28 February 2023 330,737
NET BOOK VALUE
At 28 February 2023 330,737
At 28 February 2022 330,737

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors (5,437 ) -
Other debtors 170,606 170,606
VAT 141 -
Prepayments and accrued income 5,640 -
Prepayments 11,328 -
182,278 170,606

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 257 2
Tax 4,940 3,580
VAT - 7,793
5,197 11,375

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans (see note 10) 540,349 576,656

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 540,349 576,656

Daas Trading Limited (Registered number: 06127965)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

10. LOANS

An analysis of the maturity of loans is given below:

28.2.23 28.2.22
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 540,349 576,656

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
1,000 Ordinary 1.00 1,000 1,000

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2022 534,680 67,500 602,180
Profit for the year 48,954 48,954
At 28 February 2023 583,634 67,500 651,134