Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-311truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.export of engineering supplies2022-04-011false 01415104 2022-04-01 2023-03-31 01415104 2021-04-01 2022-03-31 01415104 2023-03-31 01415104 2022-03-31 01415104 1 2022-04-01 2023-03-31 01415104 d:Director1 2022-04-01 2023-03-31 01415104 c:PlantMachinery 2022-04-01 2023-03-31 01415104 c:PlantMachinery 2023-03-31 01415104 c:PlantMachinery 2022-03-31 01415104 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01415104 c:MotorVehicles 2022-04-01 2023-03-31 01415104 c:MotorVehicles 2023-03-31 01415104 c:MotorVehicles 2022-03-31 01415104 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01415104 c:FurnitureFittings 2022-04-01 2023-03-31 01415104 c:FurnitureFittings 2023-03-31 01415104 c:FurnitureFittings 2022-03-31 01415104 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01415104 c:OfficeEquipment 2022-04-01 2023-03-31 01415104 c:OfficeEquipment 2023-03-31 01415104 c:OfficeEquipment 2022-03-31 01415104 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01415104 c:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 01415104 c:OtherPropertyPlantEquipment 2023-03-31 01415104 c:OtherPropertyPlantEquipment 2022-03-31 01415104 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01415104 c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01415104 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 01415104 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-31 01415104 c:CurrentFinancialInstruments 2023-03-31 01415104 c:CurrentFinancialInstruments 2022-03-31 01415104 c:Non-currentFinancialInstruments 2023-03-31 01415104 c:Non-currentFinancialInstruments 2022-03-31 01415104 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 01415104 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 01415104 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 01415104 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 01415104 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 01415104 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-03-31 01415104 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 01415104 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-03-31 01415104 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2023-03-31 01415104 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2022-03-31 01415104 c:ShareCapital 2023-03-31 01415104 c:ShareCapital 2022-03-31 01415104 c:RetainedEarningsAccumulatedLosses 2023-03-31 01415104 c:RetainedEarningsAccumulatedLosses 2022-03-31 01415104 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 01415104 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 01415104 d:OrdinaryShareClass1 2022-04-01 2023-03-31 01415104 d:OrdinaryShareClass1 2023-03-31 01415104 d:OrdinaryShareClass1 2022-03-31 01415104 d:FRS102 2022-04-01 2023-03-31 01415104 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01415104 d:FullAccounts 2022-04-01 2023-03-31 01415104 d:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01415104










DIAK TECHNICAL EXPORT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
DIAK TECHNICAL EXPORT LIMITED
REGISTERED NUMBER: 01415104

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,044
1,859

  
2,044
1,859

Current assets
  

Debtors: amounts falling due within one year
 6 
61,496
66,065

Cash at bank and in hand
 7 
4,293
880

  
65,789
66,945

Creditors: amounts falling due within one year
 8 
(77,913)
(73,912)

Net current liabilities
  
 
 
(12,124)
 
 
(6,967)

Total assets less current liabilities
  
(10,080)
(5,108)

Creditors: amounts falling due after more than one year
 9 
(48,291)
(51,644)

  

Net liabilities
  
(58,371)
(56,752)


Capital and reserves
  

Called up share capital 
 12 
175,000
175,000

Profit and loss account
  
(233,371)
(231,752)

  
(58,371)
(56,752)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2024.

Page 1

 
DIAK TECHNICAL EXPORT LIMITED
REGISTERED NUMBER: 01415104
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023




M.R. Arkell
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The entity is a private company limited by shares, incorporated in England and Wales. The company's registered office is located at 6 Northlands Road, Southampton, Hampshire, SO15 2LF. The principal activity is the export of engineering equipment..

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is reliant upon the director's continuing financial support in terms of not drawing down on his loan account balance to be regarded as a going concern.  The director also took steps to ensure the cash flow stability of the company whilst coronavirus restrictions were in place. The director has indicated that he considers the company to be a going concern for the foreseeable future.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 4

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method or the reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment
-
3 years straight line basis
Motor vehicles
-
4 years reducing balance basis
Database
-
4 years straight line basis
Office equipment
-
4 years straight line basis
Other assets
-
4 years straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Intangible assets




R&D

£



Cost


At 1 April 2022
29,482



At 31 March 2023

29,482



Amortisation


At 1 April 2022
29,482



At 31 March 2023

29,482



Net book value



At 31 March 2023
-



At 31 March 2022
-




5.


Tangible fixed assets





Computer equipment
Motor vehicles
Database
Office equipment
Other assets

£
£
£
£
£



Cost or valuation


At 1 April 2022
1,190
8,155
17,729
19,213
3,429


Additions
657
-
-
342
-
Page 6

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

           5.Tangible fixed assets (continued)




At 31 March 2023

1,847
8,155
17,729
19,555
3,429



Depreciation


At 1 April 2022
397
7,089
17,729
19,213
3,429


Charge for the year on owned assets
462
266
-
86
-



At 31 March 2023

859
7,355
17,729
19,299
3,429



Net book value



At 31 March 2023
988
800
-
256
-



At 31 March 2022
793
1,066
-
-
-

Total

£



Cost or valuation


At 1 April 2022
49,716


Additions
999



At 31 March 2023

50,715



Depreciation


At 1 April 2022
47,857


Charge for the year on owned assets
814



At 31 March 2023

48,671



Net book value



At 31 March 2023
2,044



At 31 March 2022
1,859


6.


Debtors

2023
2022
Page 7

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.Debtors (continued)

£
£


Trade debtors
7,887
10,094

Other debtors
53,609
55,971

61,496
66,065



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
4,293
880

Less: bank overdrafts
(9,299)
-

(5,006)
880



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
9,299
-

Bank loans
5,000
5,000

Trade creditors
10,389
1,495

Corporation tax
381
875

Other taxation and social security
3,611
9,545

Other creditors
48,633
55,642

Accruals and deferred income
600
1,355

77,913
73,912


Page 8

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
43,695
46,048

Other creditors
4,596
5,596

48,291
51,644


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022
£
£


Repayable by instalments
23,695
26,048

23,695
26,048

The company took out a Bounce Back Loan which was repayable in instalments over 10 years from December 2021. The annual rate of interest on this loan is 2.5%. The commencement of repayments was deferred until April 2022. 48 capital instalments fall due more than five years after the balance sheet date. 

Page 9

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,000
5,000


5,000
5,000

Amounts falling due 1-2 years

Bank loans
5,000
5,000


5,000
5,000

Amounts falling due 2-5 years

Bank loans
15,000
15,000


15,000
15,000

Amounts falling due after more than 5 years

Bank loans
23,695
26,048

23,695
26,048

48,695
51,048



11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
4,293
880




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



Page 10

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

12.Share capital (continued)

175,000 (2022 - 175,000) Ordinary shares of £1.00 each
175,000
175,000



13.


Related party transactions

During the year the company made payments on behalf of Ark Marine Limited totalling £6,742 (2022 £7,114). The balance owed by Ark Marine Limited at year end was £51,948 (2022 £53,742). Ark Marine Limited is 100% owned by Mr. M. Arkell. 


14.


Post balance sheet events

The company's trade was impacted severely shortly after year end due to the worldwide coronavirus restrictions. The director has taken steps through taking advantage of the grants and loans provided by the Government to secure the financial position of the company during these restrictions.


15.


Controlling party

The company was under the control of Mr. M. Arkell, the director, throughout the year given his effective 100% beneficial interest of the equity shares in the company. 

 
Page 11