Registered number
09822472
DD (Outwell) Ltd
Filleted Accounts
30 March 2022
DD (Outwell) Ltd
Registered number: 09822472
Balance Sheet
as at 30 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 20,866 23,798
Current assets
Debtors 4 39,361 50,037
Cash at bank and in hand 4 6,195
39,365 56,232
Creditors: amounts falling due within one year 5 (31,310) (62,009)
Net current assets/(liabilities) 8,055 (5,777)
Total assets less current liabilities 28,921 18,021
Creditors: amounts falling due after more than one year 6 (22,117) (27,000)
Net assets/(liabilities) 6,804 (8,979)
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,704 (9,079)
Shareholders' funds 6,804 (8,979)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Doubleday
Director
Approved by the board on 18 January 2024
DD (Outwell) Ltd
Notes to the Accounts
for the year ended 30 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5-15 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits. Current tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 March 2021 25,728
Additions 850
At 30 March 2022 26,578
Depreciation
At 31 March 2021 1,930
Charge for the year 3,782
At 30 March 2022 5,712
Net book value
At 30 March 2022 20,866
At 30 March 2021 23,798
4 Debtors 2022 2021
£ £
Trade debtors 19,080 43,800
Other debtors 20,281 6,237
39,361 50,037
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 6,749 3,000
Trade creditors 7,742 16,463
Taxation and social security costs 14,116 10,497
Other creditors 2,703 32,049
31,310 62,009
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 22,117 27,000
7 Controlling party
The company is controlled by the directors, D and L Doubleday.
8 Other information
DD (Outwell) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
First Floor, 12 St. John's Way
St. John's Business Estate
Downham Market
Norfolk
PE38 0QQ
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