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REGISTERED NUMBER: 14600634 (England and Wales)















Unaudited Financial Statements

for the Period 18 January 2023 to 31 August 2023

for

DACE Ltd

DACE Ltd (Registered number: 14600634)






Contents of the Financial Statements
for the Period 18 January 2023 to 31 August 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


DACE Ltd

Company Information
for the Period 18 January 2023 to 31 August 2023







DIRECTORS: Mr O Davis
Mr R J Brace





REGISTERED OFFICE: Suite 3
Falcon Court Business Centre
College Road
Maidstone
Kent
ME15 6TF





REGISTERED NUMBER: 14600634 (England and Wales)





ACCOUNTANTS: Skyfire Accountancy Ltd
The Old Rectory
Springhead Road
Northfleet
Kent
DA11 8HN

DACE Ltd (Registered number: 14600634)

Abridged Balance Sheet
31 August 2023

£   
CURRENT ASSETS
Stocks 239,520
Debtors 6,682
246,202
CREDITORS
Amounts falling due within one year 715,964
NET CURRENT LIABILITIES (469,762 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(469,762

)

CAPITAL AND RESERVES
Called up share capital 1,000
Retained earnings (470,762 )
SHAREHOLDERS' FUNDS (469,762 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:




Mr O Davis - Director



Mr R J Brace - Director


DACE Ltd (Registered number: 14600634)

Notes to the Financial Statements
for the Period 18 January 2023 to 31 August 2023

1. STATUTORY INFORMATION

DACE Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis as one of the lenders within the same group, with a balance due of £535,831 has stated it will not request repayment of the inter-company loan until the company has sufficient cash to do so.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

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 when specific criteria have been met for each of the company's activities as follows:

Revenue from the sale of services is recognised at the point at which those services have been provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Revenue from the sale of property is recognised at the point at which contracts have been exchanged and completed.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.


DACE Ltd (Registered number: 14600634)

Notes to the Financial Statements - continued
for the Period 18 January 2023 to 31 August 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

5. RELATED PARTY DISCLOSURES

During the period the company loaned £500,400 and borrowed £667,593 from companies under common control.

£500,000 of the loans made to companies under common control were deemed to be irrecoverable due to the company entering liquidation and has been written off during the period.

The remaining loans are included within debtors and creditors due within one year, are free of interest and repayable on demand.

During the period, the company was under the control of Oliver Davis Group Ltd.