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REGISTERED NUMBER: 03681861 (England and Wales)















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: D S Rose
M Rhodes





SECRETARY: M Rhodes





REGISTERED OFFICE: 111b Regents Park Road
London
NW1 8UR





REGISTERED NUMBER: 03681861 (England and Wales)





INDEPENDENT AUDITORS: Scodie Deyong LLP
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 2,697 6,222

CURRENT ASSETS
Stocks 5 44,832 15,693
Debtors 6 490,948 454,407
Cash at bank and in hand 74,868 44,962
610,648 515,062
CREDITORS
Amounts falling due within one year 7 (428,908 ) (403,647 )
NET CURRENT ASSETS 181,740 111,415
TOTAL ASSETS LESS CURRENT
LIABILITIES

184,437

117,637

CREDITORS
Amounts falling due after more than one
year

8

(24,748

)

(35,836

)
NET ASSETS 159,689 81,801

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 159,589 81,701
SHAREHOLDERS' FUNDS 159,689 81,801

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 15 December 2023 and were signed on its behalf by:




D S Rose - Director



M Rhodes - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Office equipment - 25% on cost
Fixtures and fittings - 25% on cost

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 12 (2022 - 15 ) .

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 79,199 9,270 88,469
Additions 129 650 779
At 31 May 2023 79,328 9,920 89,248
DEPRECIATION
At 1 June 2022 67,920 8,966 76,886
Charge for year 9,198 467 9,665
At 31 May 2023 77,118 9,433 86,551
NET BOOK VALUE
At 31 May 2023 2,210 487 2,697
At 31 May 2022 11,279 304 11,583

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 21,445
DEPRECIATION
At 1 June 2022 16,084
Charge for year 5,361
At 31 May 2023 21,445
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 5,361

5. STOCKS
31.5.23 31.5.22
£    £   
Stocks 44,832 15,693

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 147,329 128,264
Amounts owed by group companies 284,661 270,114
Other debtors 58,958 56,029
490,948 454,407

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 97,651 74,607
Finance lease- within 1 year 1,427 5,013
Trade creditors 82,032 78,197
Amounts owed to group companies 51,665 114,990
Taxation 23,984 16,288
Social security and other taxes 16,437 17,425
VAT 6,925 24,966
Other creditors 33,829 6,125
Accrued expenses 114,958 66,036
428,908 403,647

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 24,748 34,409
Finance lease- 1-2 years - 1,427
24,748 35,836

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
97,042 70,347

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: £    £   
100 Ordinary £1 100 100

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Jacobs BSc FCA (Senior Statutory Auditor)
for and on behalf of Scodie Deyong LLP

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.