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COMPANY REGISTRATION NUMBER: 07469993
D&T Electronics (London) Limited
Filleted Unaudited Financial Statements
29 July 2023
D&T Electronics (London) Limited
Statement of Financial Position
29 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
27,103
34,885
Current assets
Stocks
20,398
22,869
Debtors
7
246,055
37,758
Cash at bank and in hand
608
45,071
---------
---------
267,061
105,698
Creditors: amounts falling due within one year
8
185,168
65,772
---------
---------
Net current assets
81,893
39,926
---------
--------
Total assets less current liabilities
108,996
74,811
Creditors: amounts falling due after more than one year
9
18,992
28,738
---------
--------
Net assets
90,004
46,073
---------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
89,904
45,973
--------
--------
Shareholders funds
90,004
46,073
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
D&T Electronics (London) Limited
Statement of Financial Position (continued)
29 July 2023
These financial statements were approved by the board of directors and authorised for issue on 17 April 2024 , and are signed on behalf of the board by:
Mr P Helliar
Director
Company registration number: 07469993
D&T Electronics (London) Limited
Notes to the Financial Statements
Year ended 29 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Buxshalls Lodge Ardingly Road, Lindfield, Haywards Heath, RH16 2QY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 10 ).
5. Intangible assets
Goodwill
£
Cost
At 30 July 2022 and 29 July 2023
10,000
--------
Amortisation
At 30 July 2022 and 29 July 2023
10,000
--------
Carrying amount
At 29 July 2023
--------
At 29 July 2022
--------
6. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 30 July 2022
1,000
79,591
15,501
96,092
Additions
1,250
1,250
-------
--------
--------
--------
At 29 July 2023
1,000
80,841
15,501
97,342
-------
--------
--------
--------
Depreciation
At 30 July 2022
941
47,215
13,051
61,207
Charge for the year
14
8,406
612
9,032
-------
--------
--------
--------
At 29 July 2023
955
55,621
13,663
70,239
-------
--------
--------
--------
Carrying amount
At 29 July 2023
45
25,220
1,838
27,103
-------
--------
--------
--------
At 29 July 2022
59
32,376
2,450
34,885
-------
--------
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
239,993
32,313
Other debtors
6,062
5,445
---------
--------
246,055
37,758
---------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
11,577
3,079
Trade creditors
68,701
37,603
Corporation tax
21,671
1,256
Social security and other taxes
17,457
9,473
Other creditors
65,762
14,361
---------
--------
185,168
65,772
---------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
18,992
28,738
--------
--------
10. Related party transactions
The company was under the control of Mr P Helliar throughout the current and previous year. Mr P Helliar is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard FRS 102 (Section 1A).