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COMPANY REGISTRATION NUMBER: 10976802
DASHAX LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 September 2023
DASHAX LTD
FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2023
CONTENTS
PAGE
Statement of financial position
1
Notes to the financial statements
3
DASHAX LTD
STATEMENT OF FINANCIAL POSITION
30 September 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
5,532
6,945
CURRENT ASSETS
Stocks
5,285
4,715
Debtors
6
27,845
29,527
Cash at bank and in hand
64
2,567
---------
---------
33,194
36,809
CREDITORS: amounts falling due within one year
7
14,732
14,547
---------
---------
NET CURRENT ASSETS
18,462
22,262
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
23,994
29,207
CREDITORS: amounts falling due after more than one year
8
29,046
29,046
---------
---------
NET (LIABILITIES)/ASSETS
( 5,052)
161
---------
---------
DASHAX LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 September 2023
2023
2022
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 5,152)
61
--------
-----
SHAREHOLDERS (DEFICIT)/FUNDS
( 5,052)
161
--------
-----
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 30 September 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 .
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
Mr S Selvon
Director
Company registration number: 10976802
DASHAX LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 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 Equitable House, 55 Pellon Lane, Halifax, United Kingdom, HX1 5SP.
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.
Going concern
The continuation of the company's activities is dependent on the continuing financial support of the directors, bank and other creditors. The directors have confirmed that in their opinion, this financial support will continue and therefore the financial statements have been prepared on the going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Current and deferred 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.
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:
Motor vehicles
-
25% reducing balance
Equipment
-
15% 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.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. TANGIBLE ASSETS
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 October 2022 and 30 September 2023
8,800
5,265
14,065
--------
--------
---------
Depreciation
At 1 October 2022
5,088
2,032
7,120
Charge for the year
928
485
1,413
--------
--------
---------
At 30 September 2023
6,016
2,517
8,533
--------
--------
---------
Carrying amount
At 30 September 2023
2,784
2,748
5,532
--------
--------
---------
At 30 September 2022
3,712
3,233
6,945
--------
--------
---------
6. DEBTORS
2023
2022
£
£
Trade debtors
9,311
3,660
Other debtors
18,534
25,867
---------
---------
27,845
29,527
---------
---------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
7,500
7,500
Corporation tax
2,733
3,594
Social security and other taxes
4,199
3,003
Other creditors
300
450
---------
---------
14,732
14,547
---------
---------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
29,046
29,046
---------
---------
9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The directors loan account was overdrawn by £18,534 (2022: £25,867) at the year end. The maximum amount outstanding during the year was £25,867. Interest has been charged.