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REGISTERED NUMBER: 07416217 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

DEAN FLOYD LIMITED

DEAN FLOYD LIMITED (REGISTERED NUMBER: 07416217)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 JULY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DEAN FLOYD LIMITED

COMPANY INFORMATION
For The Year Ended 31 JULY 2023







DIRECTORS: Mr P S Attlas
Mr D A Floyd





REGISTERED OFFICE: Aaron House 8 Hainault Business Park
Forest Road
Hainault
Essex
IG6 3JP





REGISTERED NUMBER: 07416217 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

DEAN FLOYD LIMITED (REGISTERED NUMBER: 07416217)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 16,586
Tangible assets 5 2,079,331 1,607,622
2,079,331 1,624,208

CURRENT ASSETS
Stocks 912,970 -
Debtors 6 327,356 676,313
Cash at bank 20,890 20,623
1,261,216 696,936
CREDITORS
Amounts falling due within one year 7 911,545 819,028
NET CURRENT ASSETS/(LIABILITIES) 349,671 (122,092 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,429,002

1,502,116

CREDITORS
Amounts falling due after more than one
year

8

(425,738

)

(249,369

)

PROVISIONS FOR LIABILITIES 10 (27,800 ) (96,464 )
NET ASSETS 1,975,464 1,156,283

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,975,364 1,156,183
1,975,464 1,156,283

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

DEAN FLOYD LIMITED (REGISTERED NUMBER: 07416217)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





Mr D A Floyd - Director


DEAN FLOYD LIMITED (REGISTERED NUMBER: 07416217)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 JULY 2023

1. STATUTORY INFORMATION

Dean Floyd Limited 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. ACCOUNTING POLICIES

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

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.
The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 20% on reducing balance/ on cost
Fixtures and fittings - 15% on reducing balance/ on cost
Motor vehicle - 25% on reducing balance/ on cost

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Inventory
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.


DEAN FLOYD LIMITED (REGISTERED NUMBER: 07416217)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 JULY 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 material 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.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

DEAN FLOYD LIMITED (REGISTERED NUMBER: 07416217)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 JULY 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022 38,442
Disposals (38,442 )
At 31 July 2023 -
AMORTISATION
At 1 August 2022 21,856
Charge for year 7,688
Eliminated on disposal (29,544 )
At 31 July 2023 -
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 16,586

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2022 39,570 10,042 2,505,545 2,555,157
Additions - - 1,796,730 1,796,730
Disposals - - (1,384,483 ) (1,384,483 )
At 31 July 2023 39,570 10,042 2,917,792 2,967,404
DEPRECIATION
At 1 August 2022 26,382 3,016 1,221,257 1,250,655
Charge for year 2,638 1,405 265,630 269,673
Eliminated on disposal - - (632,255 ) (632,255 )
At 31 July 2023 29,020 4,421 854,632 888,073
NET BOOK VALUE
At 31 July 2023 10,550 5,621 2,063,160 2,079,331
At 31 July 2022 13,188 7,026 1,284,288 1,304,502

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 122,609 6,846
Other debtors 204,747 669,467
327,356 676,313

DEAN FLOYD LIMITED (REGISTERED NUMBER: 07416217)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 JULY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 487,512 414,839
Taxation and social security 16,863 37,048
Other creditors 407,170 367,141
911,545 819,028

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 45,333 61,333
Hire purchase contracts 380,405 188,036
425,738 249,369

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 45,333 61,333

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 27,800 96,464

Deferred
tax
£   
Balance at 1 August 2022 96,464
Provided during year (68,664 )
Balance at 31 July 2023 27,800

11. RELATED PARTY DISCLOSURES

Included in the other creditors less than one year is an amount of £314,636 (2022: £245,475) due to the connected companies with common directorship. Also, included is an amount of £90,733 (2022:£118,164) due to the director of the company. The loan was interest free and repayable on demand.