Registered number
09998340
Dagmar Design Ltd
Filleted Accounts
27 February 2023
Dagmar Design Ltd
Registered number: 09998340
Balance Sheet
as at 27 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,199 10,786
Current assets
Stocks 922,646 856,644
Debtors 4 162,290 277,360
Cash at bank and in hand 4,131 38,063
1,089,067 1,172,067
Creditors: amounts falling due within one year 5 (253,567) (304,175)
Net current assets 835,500 867,892
Total assets less current liabilities 846,699 878,678
Creditors: amounts falling due after more than one year 6 (21,328) (31,328)
Net assets 825,371 847,350
Capital and reserves
Called up share capital 1 1
Profit and loss account 825,370 847,349
Shareholder's funds 825,371 847,350
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Aaron Patrick Fitzgerald
Director
Approved by the board on 23 February 2024
Dagmar Design Ltd
Notes to the Accounts
for the year ended 27 February 2023
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 20% reducing balance
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.
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 11 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 28 February 2022 14,062
Additions 3,214
At 27 February 2023 17,276
Depreciation
At 28 February 2022 3,276
Charge for the year 2,801
At 27 February 2023 6,077
Net book value
At 27 February 2023 11,199
At 27 February 2022 10,786
4 Debtors 2023 2022
£ £
Trade debtors 123,547 260,047
Other debtors 38,743 17,313
162,290 277,360
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 11,172 11,172
Trade creditors 13,546 17,474
Taxation and social security costs 132,804 236,466
Other creditors 96,045 39,063
253,567 304,175
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 21,328 31,328
7 Controlling party
The ultimate controlling party is Aaron Fitzgerald, who owns 100% of the shareholding in the company.
8 Other information
Dagmar Design Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Jasmine Cottage
Florentia Clothing Village
Vale Road
London
N4 1TD
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