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REGISTERED NUMBER: 03597932 (England and Wales)






















Unaudited Financial Statements for the Year Ended 31st December 2023

for

D3 Office Group Limited

D3 Office Group Limited (Registered number: 03597932)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D3 Office Group Limited

Company Information
for the year ended 31st December 2023







DIRECTORS: R A Denley
M J Shaw
Mrs J S Denley
Mrs C Shaw





SECRETARY: R A Denley





REGISTERED OFFICE: Stratsource House
Malmo Road
Sutton Fields Industrial Estate
Hull
East Yorkshire
HU7 0YF





REGISTERED NUMBER: 03597932 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

D3 Office Group Limited (Registered number: 03597932)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,391 30,001
Tangible assets 5 331,332 310,301
343,723 340,302

CURRENT ASSETS
Stocks 246,532 227,692
Debtors 6 1,854,577 2,301,616
Cash at bank and in hand 138,032 201,317
2,239,141 2,730,625
CREDITORS
Amounts falling due within one year 7 1,215,662 1,654,107
NET CURRENT ASSETS 1,023,479 1,076,518
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,367,202

1,416,820

CREDITORS
Amounts falling due after more than one
year

8

(117,456

)

(138,177

)

PROVISIONS FOR LIABILITIES (63,888 ) (61,934 )

ACCRUALS AND DEFERRED INCOME (23,833 ) (19,391 )
NET ASSETS 1,162,025 1,197,318

CAPITAL AND RESERVES
Called up share capital 60,000 60,000
Retained earnings 1,102,025 1,137,318
SHAREHOLDERS' FUNDS 1,162,025 1,197,318

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

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

D3 Office Group Limited (Registered number: 03597932)

Balance Sheet - continued
31st December 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th July 2024 and were signed on its behalf by:




R A Denley - Director



M J Shaw - Director


D3 Office Group Limited (Registered number: 03597932)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

D3 Office Group 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1a "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Turnover from the sale of office equipment is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the despatch of the goods.

Goodwill
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is 5 years. Provision is made for any impairment.

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.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Equipment, fixtures & fittings- 10% on cost
Motor vehicles- 25% on cost
Computer equipment- 33% on cost

Stocks
Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow moving stock where appropriate.


D3 Office Group Limited (Registered number: 03597932)

Notes to the Financial Statements - continued
for the year ended 31st December 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2022 - 55 ) .

D3 Office Group Limited (Registered number: 03597932)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 291,653
AMORTISATION
At 1st January 2023 261,652
Charge for year 17,610
At 31st December 2023 279,262
NET BOOK VALUE
At 31st December 2023 12,391
At 31st December 2022 30,001

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st January 2023 473,049 125,451 69,893 668,393
Additions 53,356 35,990 5,208 94,554
Disposals - (13,750 ) - (13,750 )
At 31st December 2023 526,405 147,691 75,101 749,197
DEPRECIATION
At 1st January 2023 191,965 101,831 64,296 358,092
Charge for year 50,311 19,757 3,455 73,523
Eliminated on disposal - (13,750 ) - (13,750 )
At 31st December 2023 242,276 107,838 67,751 417,865
NET BOOK VALUE
At 31st December 2023 284,129 39,853 7,350 331,332
At 31st December 2022 281,084 23,620 5,597 310,301

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,102,306 1,313,768
Amounts owed by group undertakings 376,385 376,385
Other debtors 375,886 611,463
1,854,577 2,301,616

D3 Office Group Limited (Registered number: 03597932)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts 21,216 29,843
Trade creditors 526,626 733,587
Taxation and social security 160,070 194,826
Other creditors 457,750 645,851
1,215,662 1,654,107

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 83,338 133,333
Hire purchase contracts 34,118 4,844
117,456 138,177

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 133,338 183,333
Hire purchase contracts 55,334 34,687
Factoring account 316,008 598,669
504,680 816,689

The hire purchase creditors are secured on the assets concerned. The factoring creditor is secured on the assets of the company.The bank loan is secured on the assets concerned.

10. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £275,050 (2022: £421,740) of which £103,935 (2022: £142,753) falls due for payment within one year.

11. RELATED PARTY DISCLOSURES

Included within other debtors is £362,020 (2022: £604,087) due from UK Print Group Limited, a company in which both R. Denley and M. Shaw are directors and shareholders. Interest is charged at 7.15% on balances over £210,000.