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COMPANY REGISTRATION NUMBER: 07415660
Dlan Ltd
Filleted Unaudited Financial Statements
31 January 2023
Dlan Ltd
Financial Statements
Year ended 31 January 2023
Contents
Pages
Balance sheet
1 to 2
Notes to the financial statements
3 to 7
Dlan Ltd
Balance Sheet
31 January 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
10,699
10,455
Current assets
Stocks
316,989
197,236
Debtors
6
96,121
68,441
Cash at bank and in hand
13,291
2,800
---------
---------
426,401
268,477
Creditors: amounts falling due within one year
7
386,214
204,727
---------
---------
Net current assets
40,187
63,750
--------
--------
Total assets less current liabilities
50,886
74,205
Creditors: amounts falling due after more than one year
8
44,439
61,743
Provisions
Taxation including deferred tax
2,000
2,000
--------
--------
Net assets
4,447
10,462
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
4,446
10,461
-------
--------
Shareholder funds
4,447
10,462
-------
--------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dlan Ltd
Balance Sheet (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 29 November 2023 , and are signed on behalf of the board by:
Mr S Podmore
Director
Company registration number: 07415660
Dlan Ltd
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales, registration number 07415660 . The address of the registered office is 29 King Street, Newcastle Under Lyme, Staffordshire, ST5 1ER.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.
Revenue recognition
Turnover comprises the value of sales (exclusive of VAT and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when goods are despatched which is the same day on which goods are delivered and hence the point at which the risks and rewards of ownership pass to the buyer.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
25% reducing balance
Fixtures and Fittings
-
25% reducing balance
Motor Vehicles
-
25% straight line
Equipment
-
25% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost represents the invoiced price for goods and services. Net realisable value is the estimated proceeds from the sale of stock items.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal values. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and cash in hand. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 9 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 February 2022
4,650
4,552
2,000
28,731
39,933
Additions
5,792
5,792
Disposals
( 2,000)
( 2,000)
-------
-------
-------
--------
--------
At 31 January 2023
4,650
4,552
5,792
28,731
43,725
-------
-------
-------
--------
--------
Depreciation
At 1 February 2022
3,270
3,384
1,000
21,824
29,478
Charge for the year
345
292
457
3,454
4,548
Disposals
( 1,000)
( 1,000)
-------
-------
-------
--------
--------
At 31 January 2023
3,615
3,676
457
25,278
33,026
-------
-------
-------
--------
--------
Carrying amount
At 31 January 2023
1,035
876
5,335
3,453
10,699
-------
-------
-------
--------
--------
At 31 January 2022
1,380
1,168
1,000
6,907
10,455
-------
-------
-------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
18,306
24,532
Other debtors
77,815
43,909
--------
--------
96,121
68,441
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,150
34,261
Trade creditors
99,555
52,585
Corporation tax
33,768
28,703
Social security and other taxes
22,043
36,193
Other creditors
220,698
52,985
---------
---------
386,214
204,727
---------
---------
The loan in favour of BCRS Meif Gp Limited is secured by way of a debenture dated 19 February 2020, it contains a fixed and floating charge over all the property or undertaking of the company, and contains a negative pledge.
The director has provide a guarantee in respect of the loan from BCRS Meif Gp Limited.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
30,174
36,494
Other creditors
14,265
25,249
--------
--------
44,439
61,743
--------
--------
The loan in favour of BCRS Meif Gp Limited is secured by way of a debenture dated 19 February 2020, it contains a fixed and floating charge over all the property or undertaking of the company, and contains a negative pledge.
The director has provide a guarantee in respect of the loan from BCRS Meif Gp Limited.
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
9,113
12,454
Later than 1 year and not later than 5 years
19,257
28,369
--------
--------
28,370
40,823
--------
--------
10. Director's advances, credits and guarantees
During the year the director has maintained a current account with the company, the balance on this account at the start of the year was £15,942 credit (2022 - £20,723 credit) and the balance at the year end was £24,385 debit (2022 - £15,942 credit). There were no material advances in the current or previous year, total advances were £40,327 (2022 - £54,781). No material repayments were made in the year, in the previous year material repayments were made of £50,000 on 31/3/22 total other monies repaid were £nil(2022 - £nil). The advances were on an interest free basis.