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Registration number: 04223426

Dash Direct Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Dash Direct Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Dash Direct Limited

Company Information

Director

Mr D J Hildrew

Company secretary

Mrs S Hildrew

Registered office

6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Dash Direct Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dash Direct Limited for the year ended 31 December 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Dash Direct Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Dash Direct Limited and state those matters that we have agreed to state to the Board of Directors of Dash Direct Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dash Direct Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Dash Direct Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Dash Direct Limited. You consider that Dash Direct Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Dash Direct Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

18 April 2024

 

Dash Direct Limited

(Registration number: 04223426)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

1,526

Tangible assets

5

-

11,935

 

-

13,461

Current assets

 

Stocks

6

-

207,409

Debtors

7

75,044

118,411

Cash at bank and in hand

 

27,541

18,338

 

102,585

344,158

Creditors: Amounts falling due within one year

8

(200,476)

(396,462)

Net current liabilities

 

(97,891)

(52,304)

Total assets less current liabilities

 

(97,891)

(38,843)

Creditors: Amounts falling due after more than one year

8

(37,067)

(41,253)

Net liabilities

 

(134,958)

(80,096)

Capital and reserves

 

Called up share capital

3,300

3,300

Share premium reserve

149,700

149,700

Retained earnings

(287,958)

(233,096)

Shareholders' deficit

 

(134,958)

(80,096)

 

Dash Direct Limited

(Registration number: 04223426)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 12 April 2024
 

.........................................

Mr D J Hildrew

Director

 

Dash Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

The principal place of business is:
Apple Loft
Venn Farm
Brixton
Plymouth
Devon
PL8 2AX

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The director has prepared the financial statements on a going concern basis, on the understanding that they will continue to provide financial support if it is required and, accordingly, the financial staements do not include any adjustments that would result if this support were not forthcoming.

Revenue recognition

Turnover comprises the fair value of the consideration received for the sale of goods in the ordinary course of the company’s activities of the online sale of cosmetic items. Turnover is shown net of value added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity.

 

Dash Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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

Plant and machinery

25% Reducing balance

Fixtures and fittings

15% Reducing balance

Office equipment

33% Reducing balance

Vehicles

25% Reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademarks

10% Straight line

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 inventories 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.

 

Dash Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 January 2023

22,357

22,357

Disposals

(22,357)

(22,357)

At 31 December 2023

-

-

Amortisation

At 1 January 2023

20,831

20,831

Amortisation eliminated on disposals

(20,831)

(20,831)

At 31 December 2023

-

-

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

1,526

1,526

 

Dash Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

46,200

833

1,153

48,186

Disposals

(46,200)

(833)

(1,153)

(48,186)

At 31 December 2023

-

-

-

-

Depreciation

At 1 January 2023

34,528

635

1,088

36,251

Eliminated on disposal

(34,528)

(635)

(1,088)

(36,251)

At 31 December 2023

-

-

-

-

Carrying amount

At 31 December 2023

-

-

-

-

At 31 December 2022

11,672

198

65

11,935

6

Stocks

2023
£

2022
£

Other inventories

-

207,409

7

Debtors

2023
£

2022
£

Trade debtors

44

51,677

Prepayments

-

21,376

Other debtors

75,000

45,358

75,044

118,411

 

Dash Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

6,357

5,625

Trade creditors

 

57

155,607

Taxation and social security

 

13,949

-

Accruals and deferred income

 

10,157

4,397

Other creditors

 

169,956

230,833

 

200,476

396,462

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

37,067

41,253