Registered number
10118866
DS Insolvency Limited
Unaudited Filleted Accounts
for the year ended 31 August 2023
DS Insolvency Limited
Registered number: 10118866
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 59,014 3,074
Investments 4 160,000 160,000
219,014 163,074
Current assets
Debtors 5 29,480 13,215
Cash at bank and in hand 357,403 390,084
386,883 403,299
Creditors: amounts falling due within one year 6 (140,303) (144,518)
Net current assets 246,580 258,781
Total assets less current liabilities 465,594 421,855
Creditors - Net salaries 524 -
Net assets 466,118 421,855
Capital and reserves
Called up share capital 103 103
Profit and loss account 466,015 421,752
Shareholders' funds 466,118 421,855
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Dominic Riordan
Director
Approved by the board on 23 April 2024
DS Insolvency Limited
Notes to the Accounts
for the year ended 31 August 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery Over 3 years
Fixtures, fittings, tools and equipment Over 3 years
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 7 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 22,806
Additions 87,745
At 31 August 2023 110,551
Depreciation
At 1 September 2022 19,732
Charge for the year 31,805
At 31 August 2023 51,537
Net book value
At 31 August 2023 59,014
At 31 August 2022 3,074
4 Investments
Other
investments
£
Cost
At 1 September 2022 160,000
At 31 August 2023 160,000
5 Debtors 2023 2022
£ £
Trade debtors 18,102 7,824
Other debtors 11,378 5,391
29,480 13,215
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 16,945 10,934
Taxation and social security costs 120,236 132,447
Other creditors 3,122 1,137
140,303 144,518
7 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Dominic Riordan
Loans from director - 1,064 - 1,064
Sally Weir
Loans from director 312 312 - 624
Simon Weir
Loans from director 35 240 275
Thomas Riordan
Loans from director - 108 - 108
347 1,724 - 2,071
8 Controlling party
The ultimate controlling parties are Dominic Riordan and Simon Weir as equal majority shareholders.
9 Other information
DS Insolvency Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Lakeside
Calder Island Way
Wakefield
England
WF2 7AW
DS Insolvency Limited 10118866 false 2022-09-01 2023-08-31 2023-08-31 VT Final Accounts April 2024 Dominic Riordan No description of principal activity 10118866 2021-09-01 2022-08-31 10118866 core:WithinOneYear 2022-08-31 10118866 core:ShareCapital 2022-08-31 10118866 core:RetainedEarningsAccumulatedLosses 2022-08-31 10118866 2022-09-01 2023-08-31 10118866 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10118866 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 10118866 bus:Director40 2022-09-01 2023-08-31 10118866 1 2022-09-01 2023-08-31 10118866 2 2022-09-01 2023-08-31 10118866 core:PlantMachinery 2022-09-01 2023-08-31 10118866 bus:Director1 2022-09-01 2023-08-31 10118866 bus:Director1 1 2022-09-01 2023-08-31 10118866 bus:Director2 2022-09-01 2023-08-31 10118866 bus:Director2 1 2022-09-01 2023-08-31 10118866 bus:Director3 2022-09-01 2023-08-31 10118866 bus:Director3 1 2022-09-01 2023-08-31 10118866 bus:Director4 2022-09-01 2023-08-31 10118866 bus:Director4 1 2022-09-01 2023-08-31 10118866 countries:England 2022-09-01 2023-08-31 10118866 bus:FRS102 2022-09-01 2023-08-31 10118866 bus:FilletedAccounts 2022-09-01 2023-08-31 10118866 2023-08-31 10118866 core:WithinOneYear 2023-08-31 10118866 core:ShareCapital 2023-08-31 10118866 core:RetainedEarningsAccumulatedLosses 2023-08-31 10118866 core:PlantMachinery 2023-08-31 10118866 bus:Director1 1 2023-08-31 10118866 bus:Director2 1 2023-08-31 10118866 bus:Director3 1 2023-08-31 10118866 bus:Director4 1 2023-08-31 10118866 2022-08-31 10118866 core:PlantMachinery 2022-08-31 10118866 bus:Director1 1 2022-08-31 10118866 bus:Director2 1 2022-08-31 10118866 bus:Director3 1 2022-08-31 10118866 bus:Director4 1 2022-08-31 iso4217:GBP xbrli:pure