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Registration number: 04894313

Dancehome Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Dancehome Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Dancehome Ltd

(Registration number: 04894313)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,160

4,894

Current assets

 

Debtors

5

3,031

750

Cash at bank and in hand

 

22,649

35,428

 

25,680

36,178

Creditors: Amounts falling due within one year

6

(142,322)

(184,801)

Net current liabilities

 

(116,642)

(148,623)

Net liabilities

 

(112,482)

(143,729)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(112,582)

(143,829)

Shareholders' deficit

 

(112,482)

(143,729)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 April 2024
 

.........................................
Mr B C Kilby
Director

 

Dancehome Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Ribble Court
Mead Way
Padiham
Burnley
Lancashire
BB12 7NG

These financial statements were authorised for issue by the director on 4 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis which assumes the continuing support of the company's principal creditor being the sole director and controlling shareholder, Mr B C Kilby.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

 

Dancehome Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Dancehome Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 3).

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost

At 1 August 2022

6,050

6,050

At 31 July 2023

6,050

6,050

Depreciation

At 1 August 2022

1,156

1,156

Charge for the year

734

734

At 31 July 2023

1,890

1,890

Net book value

At 31 July 2023

4,160

4,160

At 31 July 2022

4,894

4,894

5

Debtors

2023
£

2022
£

Trade debtors

1,831

-

Other debtors

1,200

750

3,031

750

 

Dancehome Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

140,000

140,000

Trade creditors

 

1,455

43,898

Taxation and social security

 

367

403

Accruals and deferred income

 

500

500

 

142,322

184,801

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

140,000

140,000

 

Dancehome Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

9

Related party transactions

Summary of transactions with entities with joint control or significant interest

FG Technologies Ltd.
Lottery Services Limited.
BSK Ltd Pension Scheme.
LSL (SM2) Ltd.
Total Gaming Solutions Ltd.
The Barry Kilby Prostate Cancer Appeal,

 

Income and receivables from related parties

2023

Entities with joint control or significant influence
£

Iincome

80,813

Amounts receivable from related party

1,831

2022

Entities with joint control or significant influence
£

Income

84,000

Expenditure with and payables to related parties

2023

Entities with joint control or significant influence
£

Expenditure

279

Amounts payable to related party

182

2022

Entities with joint control or significant influence
£

Expenditure

595