Silverfin false 31/03/2023 01/04/2022 31/03/2023 Annette Martin 04/03/2010 David John Martin 04/03/2010 23 November 2023 The principal activity of the Company during the financial year was the operation of a care home. 07179023 2023-03-31 07179023 bus:Director1 2023-03-31 07179023 bus:Director2 2023-03-31 07179023 2022-03-31 07179023 core:CurrentFinancialInstruments 2023-03-31 07179023 core:CurrentFinancialInstruments 2022-03-31 07179023 core:Non-currentFinancialInstruments 2023-03-31 07179023 core:Non-currentFinancialInstruments 2022-03-31 07179023 core:ShareCapital 2023-03-31 07179023 core:ShareCapital 2022-03-31 07179023 core:RetainedEarningsAccumulatedLosses 2023-03-31 07179023 core:RetainedEarningsAccumulatedLosses 2022-03-31 07179023 core:LandBuildings 2022-03-31 07179023 core:Vehicles 2022-03-31 07179023 core:FurnitureFittings 2022-03-31 07179023 core:LandBuildings 2023-03-31 07179023 core:Vehicles 2023-03-31 07179023 core:FurnitureFittings 2023-03-31 07179023 core:CurrentFinancialInstruments 1 2023-03-31 07179023 core:CurrentFinancialInstruments 1 2022-03-31 07179023 bus:OrdinaryShareClass1 2023-03-31 07179023 2022-04-01 2023-03-31 07179023 bus:FullAccounts 2022-04-01 2023-03-31 07179023 bus:SmallEntities 2022-04-01 2023-03-31 07179023 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07179023 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07179023 bus:Director1 2022-04-01 2023-03-31 07179023 bus:Director2 2022-04-01 2023-03-31 07179023 core:Vehicles 2022-04-01 2023-03-31 07179023 core:FurnitureFittings 2022-04-01 2023-03-31 07179023 2021-04-01 2022-03-31 07179023 core:LandBuildings 2022-04-01 2023-03-31 07179023 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 07179023 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 07179023 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07179023 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07179023 (England and Wales)

DALSKATS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

DALSKATS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

DALSKATS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
DALSKATS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,267,071 1,278,205
1,267,071 1,278,205
Current assets
Stocks 4 600 600
Debtors 5 143,565 74,285
Cash at bank and in hand 18,629 12,468
162,794 87,353
Creditors: amounts falling due within one year 6 ( 168,462) ( 137,939)
Net current liabilities (5,668) (50,586)
Total assets less current liabilities 1,261,403 1,227,619
Creditors: amounts falling due after more than one year 7 ( 287,633) ( 353,485)
Net assets 973,770 874,134
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 973,670 874,034
Total shareholders' funds 973,770 874,134

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of DALSKATS Limited (registered number: 07179023) were approved and authorised for issue by the Director on 23 November 2023. They were signed on its behalf by:

Annette Martin
Director
DALSKATS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
DALSKATS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

DALSKATS Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Nicholson Road, Torquay, TQ2 7TD, England, United Kingdom. The principal place of business is Home Orchard, Palace Farm, Rock Road, Chudleigh, TQ13 0JJ.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 48 44

3. Tangible assets

Land and buildings Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 April 2022 1,235,707 40,163 77,256 1,353,126
Additions 0 0 3,772 3,772
Disposals 0 ( 14,868) ( 4,171) ( 19,039)
At 31 March 2023 1,235,707 25,295 76,857 1,337,859
Accumulated depreciation
At 01 April 2022 0 23,705 51,216 74,921
Charge for the financial year 0 3,864 6,934 10,798
Disposals 0 ( 11,089) ( 3,842) ( 14,931)
At 31 March 2023 0 16,480 54,308 70,788
Net book value
At 31 March 2023 1,235,707 8,815 22,549 1,267,071
At 31 March 2022 1,235,707 16,458 26,040 1,278,205

4. Stocks

2023 2022
£ £
Stocks 600 600

5. Debtors

2023 2022
£ £
Trade debtors 50,652 0
Amounts owed by directors 78,907 49,880
Prepayments and accrued income 13,996 24,405
Other debtors 10 0
143,565 74,285

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 66,140 64,260
Trade creditors 8,556 11,438
Accruals and deferred income 38,270 5,803
Corporation tax 36,282 30,046
Deferred tax liability 1,550 3,162
Other taxation and social security 13,010 18,819
Other creditors 4,654 4,411
168,462 137,939

There are no amounts included above in respect of which any security has been given by the small entity.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 287,633 353,485

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Class A ordinary shares of £ 1.00 each 100 100

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 2,669 3,746

10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2023 2022
£ £
Home Orchard Partnership - Wage recharge 74,791 64,067
Home Orchard Partnership - Rent charge for the use of office 40,404 40,404

Transactions with the entity's directors

2023 2022
£ £
The directors, debtor 78,907 49,880
Dividends voted to the directors 53,000 89,000