Registered number
09605563
DAIDA HOLDINGS LTD
Filleted Accounts
31 May 2023
DAIDA HOLDINGS LTD
Registered number: 09605563
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 28,832 5,225
Current assets
Stocks 367,971 1,034,479
Debtors 4 7,166 16,500
Cash at bank and in hand 21,005 52,120
396,142 1,103,099
Creditors: amounts falling due within one year 5 (331,032) (1,048,119)
Net current assets 65,110 54,980
Total assets less current liabilities 93,942 60,205
Creditors: amounts falling due after more than one year 6 (41,204) (43,056)
Net assets 52,738 17,149
Capital and reserves
Called up share capital 100 100
Profit and loss account 52,638 17,049
Shareholders' funds 52,738 17,149
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.
Mr M Mullally
Director
Approved by the board on 6 September 2023
DAIDA HOLDINGS LTD
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
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:
Motor vehicles 25% reducing balance method
Plant and machinery 25% reducing balance method
Fixtures, fittings, tools and equipment 25% reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 2,876 7,150 10,026
Additions 13,917 19,300 33,217
At 31 May 2023 16,793 26,450 43,243
Depreciation
At 1 June 2022 1,335 3,466 4,801
Charge for the year 3,864 5,746 9,610
At 31 May 2023 5,199 9,212 14,411
Net book value
At 31 May 2023 11,594 17,238 28,832
At 31 May 2022 1,541 3,684 5,225
4 Debtors 2023 2022
£ £
Other debtors 7,166 16,500
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,556 453,467
Trade creditors 25,907 28,192
Taxation and social security costs 40,802 28,228
Other creditors 258,767 538,232
331,032 1,048,119
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 41,204 43,056
7 Controlling party
The company is controlled by the directors by virtue of their shareholdings.
8 Other information
DAIDA HOLDINGS LTD is a private company limited by shares and incorporated in England. Its registered office is:
12 Granary Wharf Business Park
Wetmore Road
Burton upon Trent
Staffordshire
DE14 1DU
DAIDA HOLDINGS LTD 09605563 false 2022-06-01 2023-05-31 2023-05-31 VT Final Accounts April 2022 Mr M Mullally No description of principal activity 09605563 2021-06-01 2022-05-31 09605563 core:WithinOneYear 2022-05-31 09605563 core:AfterOneYear 2022-05-31 09605563 core:ShareCapital 2022-05-31 09605563 core:RetainedEarningsAccumulatedLosses 2022-05-31 09605563 2022-06-01 2023-05-31 09605563 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 09605563 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 09605563 bus:Director40 2022-06-01 2023-05-31 09605563 1 2022-06-01 2023-05-31 09605563 2 2022-06-01 2023-05-31 09605563 core:PlantMachinery 2022-06-01 2023-05-31 09605563 core:Vehicles 2022-06-01 2023-05-31 09605563 countries:England 2022-06-01 2023-05-31 09605563 bus:FRS102 2022-06-01 2023-05-31 09605563 bus:FullAccounts 2022-06-01 2023-05-31 09605563 2023-05-31 09605563 core:WithinOneYear 2023-05-31 09605563 core:AfterOneYear 2023-05-31 09605563 core:ShareCapital 2023-05-31 09605563 core:RetainedEarningsAccumulatedLosses 2023-05-31 09605563 core:PlantMachinery 2023-05-31 09605563 core:Vehicles 2023-05-31 09605563 2022-05-31 09605563 core:PlantMachinery 2022-05-31 09605563 core:Vehicles 2022-05-31 iso4217:GBP xbrli:pure