Registered number
03000416
DIRECT RESPONSE FULFILMENT LIMITED
Unaudited Filleted Accounts
31 July 2023
DIRECT RESPONSE FULFILMENT LIMITED
Registered number: 03000416
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 5,710 11,350
Investments 4 181,769 181,769
187,479 193,119
Current assets
Debtors 5 2,936,532 2,771,115
Cash at bank and in hand 20,609 30,517
2,957,141 2,801,632
Creditors: amounts falling due within one year 6 (391,488) (296,880)
Net current assets 2,565,653 2,504,752
Total assets less current liabilities 2,753,132 2,697,871
Provisions for liabilities (223,498) (296,344)
Net assets 2,529,634 2,401,527
Capital and reserves
Called up share capital 76,925 76,925
Share premium 771,575 771,575
Capital redemption reserve 5,000 5,000
Profit and loss account 1,676,134 1,548,027
Shareholders' funds 2,529,634 2,401,527
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.
C E Chrysostomou
Director
Approved by the board on 17 November 2023
DIRECT RESPONSE FULFILMENT LIMITED
Notes to the Accounts
for the year ended 31 July 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in freehold and leasehold investment properties Changes in fair value are included in the profit and loss account.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 24 29
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 August 2022 16,995
At 31 July 2023 16,995
Depreciation
At 1 August 2022 5,645
Charge for the year 5,640
At 31 July 2023 11,285
Net book value
At 31 July 2023 5,710
At 31 July 2022 11,350
4 Investments
Other
investments
£
Cost
At 1 August 2022 181,769
At 31 July 2023 181,769
Historical cost
At 1 August 2022 181,769
At 31 July 2023 181,769
5 Debtors 2023 2022
£ £
Trade debtors 609,608 713,197
Other debtors 2,326,924 2,057,918
2,936,532 2,771,115
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 296,243 264,815
Taxation and social security costs 74,758 18,961
Other creditors 20,487 13,104
391,488 296,880
7 Related party transactions
Included in other debtors falling due within one year is an amount due from Direct Response Marketing Group Ltd, a company with common directors and shareholders, of £2,326,924 (2022: £1,977,881).
During the year under review rent was charged to the company by Direct Response Marketing Group Ltd, a company with common directors and shareholders, of £127,625 (2022: £102,566).
8 Controlling party
The ultimate controlling party is C E Chrysostomou.
9 Other information
DIRECT RESPONSE FULFILMENT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Euro House
Cremers Road
Sittingbourne
Kent
ME10 3US
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