REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
DEUBLIN LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
DEUBLIN LIMITED |
DEUBLIN LIMITED (REGISTERED NUMBER: 01088395) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
DEUBLIN LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
Fleming Court |
Leigh Road |
Eastleigh |
Southampton |
Hampshire |
SO50 9PD |
DEUBLIN LIMITED (REGISTERED NUMBER: 01088395) |
STATEMENT OF FINANCIAL POSITION |
31ST DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DEUBLIN LIMITED (REGISTERED NUMBER: 01088395) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Deublin Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. |
The financial statements have been prepared on the going concern basis, as the directors believe that the company is in a stable position. |
The company holds strong levels of cash & reserves and maintains strong leadership. There are also relatively low fixed costs and the company has the ability to react to market conditions by varying pricing and if necessary, reducing the fixed costs of the business to match the market. |
The following accounting policies have been applied. |
Turnover |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
Sale of goods |
Revenue from the sale of goods is recognised when all of the following conditions are satisfied: |
1) the company has transferred the significant risks and rewards of ownership to the buyer; |
2) the company retains neither continuing managerial involvement to the degree usually associated with |
ownership nor effective control over the goods sold; |
3) the amount of revenue can be measured reliably; |
4) it is probable that the company will receive the consideration due under the transaction; and |
5) the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
DEUBLIN LIMITED (REGISTERED NUMBER: 01088395) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
At each reporting date the company assesses whether there is an indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there ia an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings. |
Stocks |
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. |
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately on profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
DEUBLIN LIMITED (REGISTERED NUMBER: 01088395) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
The company's functional and presentational currency is GBP. |
Transactions and balances |
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. |
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. |
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of income and retained earnings except when deferred in other comprehensive income as qualifying cash flow hedges. |
Operating leases: the company as lessee |
Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the lease term. |
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. |
The company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard on 1 January 2015 to continue to be charged over the period to the first market rent review rather than over the term of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. |
The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
Creditors |
Short term creditors are measured at the transaction price. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
DEUBLIN LIMITED (REGISTERED NUMBER: 01088395) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and |
leasehold | machinery | fittings |
£ | £ | £ |
COST |
At 1st January 2023 |
Additions |
Disposals |
At 31st December 2023 |
DEPRECIATION |
At 1st January 2023 |
Charge for year |
Eliminated on disposal |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1st January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st December 2023 |
DEPRECIATION |
At 1st January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Included within other debtors is £15,452 in respect of prepayments and accrued income (2022: £13,978). |
DEUBLIN LIMITED (REGISTERED NUMBER: 01088395) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Included in other creditors is £171,045 in respect of accruals and deferred income (2022: £45,778). |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1.00 | 100 | 100 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | OTHER FINANCIAL COMMITMENTS |
Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £66,601 (2022: £84,835). This amount is in relation to operating lease commitments which are payable over the next one to four years (2022: one to four years). |
10. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any subsidiary that is party to the transaction is wholly owned within the group or where transactions have been undertaken under normal market conditions. |
11. | ULTIMATE CONTROLLING PARTY |
The parent undertaking of this company is Deublin Holding GmbH (incorporated in Switzerland). The company's registered office is Baarerstrasse 18, 6302 Zug, Switzerland. |
The ultimate parent undertaking is The Hoerbiger Foundation (incorporated in Switzerland) and the registered office address is as above. |