Registered number
04415617
Dayline Limited
Filleted Accounts
31 March 2023
Dayline Limited
Registered number: 04415617
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 5,447 4,792
Current assets
Stocks 98,000 63,000
Debtors 4 16,643 1,661
Cash at bank and in hand 12,971 50,635
127,614 115,296
Creditors: amounts falling due within one year 6 (106,065) (73,268)
Net current assets 21,549 42,028
Total assets less current liabilities 26,996 46,820
Creditors: amounts falling due after more than one year 7 (26,857) (46,360)
Net assets 139 460
Capital and reserves
Called up share capital 2 2
Profit and loss account 137 458
Shareholder's funds 139 460
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Memis Yuzer
Director
Approved by the board on 23 November 2023
Dayline Limited
Notes to the Accounts
for the year ended 31 March 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.
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:
Freehold buildings over 50 years
Land and buildings 25% reducing balance
Plant and machinery 25% reducing balance
Motor vehicle 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 7 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 10,800 27,359 6,120 44,279
Additions - - 2,000 2,000
At 31 March 2023 10,800 27,359 8,120 46,279
Depreciation
At 1 April 2022 10,672 22,838 5,977 39,487
Charge for the year - 1,131 214 1,345
At 31 March 2023 10,672 23,969 6,191 40,832
Net book value
At 31 March 2023 128 3,390 1,929 5,447
At 31 March 2022 128 4,521 143 4,792
4 Debtors 2023 2022
£ £
Trade debtors 1,279 1,661
Other debtors 15,364 -
16,643 1,661
5 Investments held as current assets 2023 2022
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Motor vehicles 2,000 -
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,829 -
Trade creditors 3,821 4,405
Taxation and social security costs 6,100 5,961
Other creditors 86,315 62,902
106,065 73,268
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 26,857 46,360
8 Related party transactions
Memis Yuzer
Director
As at the balance sheets date, the company owed its director £77,915 (2021: £62,084 ) which has been included under other creditors due within one year.
9 Controlling party
The company is under the control of its director.
10 Other information
Dayline Limited is a private company limited by shares and incorporated in England. Its registered office is:
255-257 Bullsmoor Lane
Enfield
Middlesex
EN1 4SB
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