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Dandyfloss Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 July 2023

Registration number: 12753945

 

Dandyfloss Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Dandyfloss Limited

Company Information

Directors

Mrs Jasmine Dowling

Mr Joseph Dowling

Registered office

61 Woodgate Road
Liskeard
Cornwall
PL14 6ET

Accountants

Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall
TR2 4FP

 

Dandyfloss Limited

Balance Sheet

31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,731

1,928

Current assets

 

Stocks

1,000

1,000

Debtors

5

1,109

170

Cash at bank and in hand

 

1,126

2,704

 

3,235

3,874

Creditors: Amounts falling due within one year

6

(3,573)

(4,383)

Net current liabilities

 

(338)

(509)

Total assets less current liabilities

 

1,393

1,419

Provisions for liabilities

(329)

-

Net assets

 

1,064

1,419

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

964

1,319

Shareholders' funds

 

1,064

1,419

 

Dandyfloss Limited

Balance Sheet

31 July 2023

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.

Directors' 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 directors acknowledge their 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 15 January 2024 and signed on its behalf by:
 

.........................................
Mrs Jasmine Dowling
Director

.........................................
Mr Joseph Dowling
Director

Company Registration Number: 12753945

 

Dandyfloss Limited

Notes to the Unaudited Financial Statements

Year Ended 31 July 2023

1

General information

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

The address of its registered office is:
61 Woodgate Road
Liskeard
Cornwall
PL14 6ET

These financial statements were authorised for issue by the Board on 15 January 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 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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.

 

Dandyfloss Limited

Notes to the Unaudited Financial Statements

Year Ended 31 July 2023

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 & fittings

25% reducing balance

Plant and machinery

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Dandyfloss Limited

Notes to the Unaudited Financial Statements

Year Ended 31 July 2023

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Dandyfloss Limited

Notes to the Unaudited Financial Statements

Year Ended 31 July 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 August 2022

599

2,766

3,365

Additions

206

175

381

At 31 July 2023

805

2,941

3,746

Depreciation

At 1 August 2022

262

1,175

1,437

Charge for the year

136

442

578

At 31 July 2023

398

1,617

2,015

Carrying amount

At 31 July 2023

407

1,324

1,731

At 31 July 2022

337

1,591

1,928

5

Debtors

2023
£

2022
£

Trade debtors

1,109

170

1,109

170

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Corporation tax

616

1,490

Other creditors

2,657

2,713

Accruals and deferred income

300

180

3,573

4,383

 

Dandyfloss Limited

Notes to the Unaudited Financial Statements

Year Ended 31 July 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

£1 ordinary shares of £1 each

100

100

100

100