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D'STASSI ART LIMITED

Registered Number
11028155
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

D'STASSI ART LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

Michael Howes
Edward Sanders

Registered Address

Unit 3 Upp Hall Farm Salmons Lane
Coggeshall
Colchester
CO6 1RY

Place of Business

12-18 Hoxton Street

London

N1 6NG


Registered Number

11028155 (England and Wales)
D'STASSI ART LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets39,78812,811
9,78812,811
Current assets
Stocks454,33717,853
Debtors5154,67145,470
Cash at bank and on hand7,36429,532
216,37292,855
Creditors amounts falling due within one year6(226,039)(102,813)
Net current assets (liabilities)(9,667)(9,958)
Total assets less current liabilities1212,853
Net assets1212,853
Capital and reserves
Called up share capital100100
Profit and loss account212,753
Shareholders' funds1212,853
The financial statements were approved and authorised for issue by the Board of Directors on 31 July 2024, and are signed on its behalf by:
Edward Sanders
Director
Registered Company No. 11028155
D'STASSI ART LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover comprises the fair value of the consideration received or receivable for the sale of goods/provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
Tangible fixed assets and depreciation
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 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:

Straight line (years)
Fixtures and fittings4
Office Equipment4
Stocks and work in progress
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 recognized immediately in profit or loss
Trade and other debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade and other creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20232022
Average number of employees during the year33
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 2219,604
Additions1,080
At 31 October 2320,684
Depreciation and impairment
At 01 November 226,793
Charge for year4,103
At 31 October 2310,896
Net book value
At 31 October 239,788
At 31 October 2212,811
4.Stocks

2023

2022

££
Other stocks54,33717,853
Total54,33717,853
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables31,43622,920
Other debtors108,72816,968
Prepayments and accrued income14,5075,582
Total154,67145,470
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables64,52126,691
Bank borrowings and overdrafts36,66431,884
Taxation and social security109,0387,584
Other creditors14,580775
Accrued liabilities and deferred income1,23635,879
Total226,039102,813
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Michael Howes3,00033,190036,190
Edward Sanders2,00019,976021,976
5,00053,166058,166
8.Share capital
The company has issued share capital of 100 ordinary shares of £1 each. There have been no changes in the share capital for this period.