REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
DENNIS DAY LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
DENNIS DAY LIMITED |
DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
DENNIS DAY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
INDEPENDENT AUDITORS: |
Chartered Accountants |
Statutory Auditors |
55 Loudoun Road |
London |
NW8 0DL |
DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861) |
BALANCE SHEET |
31 MAY 2023 |
31.5.23 | 31.5.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 | 6,222 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
1. | STATUTORY INFORMATION |
Dennis Day Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents sales of goods and services, excluding value added tax. |
Tangible fixed assets |
Office equipment | - |
Fixtures and fittings | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Office | and |
equipment | fittings | Totals |
£ | £ | £ |
COST |
At 1 June 2022 |
Additions |
At 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Office |
equipment |
£ |
COST |
At 1 June 2022 |
and 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
5. | STOCKS |
31.5.23 | 31.5.22 |
£ | £ |
Stocks |
DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Trade debtors |
Amounts owed by group companies |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Bank loans and overdrafts |
Finance lease- within 1 year | 1,427 | 5,013 |
Trade creditors |
Amounts owed to group companies |
Taxation |
Social security and other taxes |
VAT | 6,925 | 24,966 |
Other creditors |
Accrued expenses |
Included within bank loans and overdrafts is an amount totalling £87,399 (2022: £63,907); this balance is due to a debt factoring company. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Bank loans - 2-5 years |
Finance lease- 1-2 years | - | 1,427 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.5.23 | 31.5.22 |
£ | £ |
Factoring account | 87,399 | 63,907 |
Finance lease liability | 9,643 | 6,440 |
The factoring account is secured by a fixed charge over book debts and a floating charge over all other assets of the company. |
The finance lease liability is secured on the asset financed. |
DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.23 | 31.5.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | RELATED PARTY DISCLOSURES |
Garment Services Group Ltd (GSG) |
The parent company, registered in Hong Kong. |
No dividends were paid to the parent company during the year. Interest of £10,812 was received during the year. |
31.5.23 | 31.5.22 |
£ | £ |
Amount due from related party at the balance sheet date | 281,123 | 269,597 |
Garment Services Meegoda (PVT) Ltd (GSMPL) |
A wholly owned subsidiary of Garment Services Lanka (PVT) Ltd. |
Garment Services Lanka (PVT) Ltd is a subsidiary of the parent company. |
31.5.23 | 31.5.22 |
£ | £ |
Amount due to related party at the balance sheet date | 48,127 | 114,473 |
13. | ULTIMATE CONTROLLING PARTY |
The controlling party is D S Rose. |