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Registered number: 13689910
Dali Artistic Products Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Ignite Business Services Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13689910
31 October 2023 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,822 751
16,822 751
CURRENT ASSETS
Stocks 5 134,000 102,000
Debtors 6 64 20,207
Cash at bank and in hand 6,059 11,679
140,123 133,886
Creditors: Amounts Falling Due Within One Year 7 (41,566 ) (17,622 )
NET CURRENT ASSETS (LIABILITIES) 98,557 116,264
TOTAL ASSETS LESS CURRENT LIABILITIES 115,379 117,015
Creditors: Amounts Falling Due After More Than One Year 8 (138,407 ) (119,609 )
NET LIABILITIES (23,028 ) (2,594 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (23,128 ) (2,694 )
SHAREHOLDERS' FUNDS (23,028) (2,594)
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Scott Tynan
Director
Ms Emily Ferguson
Director
Mr Edward Humphrey
Director
31/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dali Artistic Products Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13689910 . The registered office is 1-3 Dublin Street, Liverpool, L3 7DT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% Straight Line
Motor Vehicles 20% Straight Line
Fixtures & Fittings 50% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: NIL)
2 -
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2022 - - 1,502 1,502
Additions 8,914 9,000 4,982 22,896
As at 31 October 2023 8,914 9,000 6,484 24,398
...CONTINUED
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Page 4
Depreciation
As at 1 November 2022 - - 751 751
Provided during the period 1,783 1,800 3,242 6,825
As at 31 October 2023 1,783 1,800 3,993 7,576
Net Book Value
As at 31 October 2023 7,131 7,200 2,491 16,822
As at 1 November 2022 - - 751 751
5. Stocks
31 October 2023 31 October 2022
£ £
Stock 134,000 102,000
6. Debtors
31 October 2023 31 October 2022
£ £
Due within one year
VAT - 16,091
Directors' loan accounts 64 4,116
64 20,207
7. Creditors: Amounts Falling Due Within One Year
31 October 2023 31 October 2022
£ £
Trade creditors 13,926 12,907
Bank loans and overdrafts 24,243 4,715
VAT 3,397 -
41,566 17,622
8. Creditors: Amounts Falling Due After More Than One Year
31 October 2023 31 October 2022
£ £
Accruals and deferred income 25,000 -
Directors loan account 113,407 119,609
138,407 119,609
9. Share Capital
31 October 2023 31 October 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4
Page 5
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
Page 5