Daisycrest Limited 03507766 false 2023-03-01 2024-02-28 2024-02-28 The principal activity of the company is Retail sale of watches and jewellery in specialised stores Digita Accounts Production Advanced 6.30.9574.0 true 03507766 2023-03-01 2024-02-28 03507766 2024-02-28 03507766 core:CurrentFinancialInstruments 2024-02-28 03507766 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-28 03507766 core:FurnitureFittings 2024-02-28 03507766 core:LandBuildings core:LongLeaseholdAssets 2024-02-28 03507766 bus:SmallEntities 2023-03-01 2024-02-28 03507766 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-28 03507766 bus:FilletedAccounts 2023-03-01 2024-02-28 03507766 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 03507766 bus:RegisteredOffice 2023-03-01 2024-02-28 03507766 bus:Director1 2023-03-01 2024-02-28 03507766 bus:Director3 2023-03-01 2024-02-28 03507766 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 03507766 core:FurnitureFittings 2023-03-01 2024-02-28 03507766 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-28 03507766 core:LandBuildings core:LongLeaseholdAssets 2023-03-01 2024-02-28 03507766 core:LeaseholdImprovements 2023-03-01 2024-02-28 03507766 countries:EnglandWales 2023-03-01 2024-02-28 03507766 2023-02-28 03507766 core:FurnitureFittings 2023-02-28 03507766 core:LandBuildings core:LongLeaseholdAssets 2023-02-28 03507766 2022-03-01 2023-02-28 03507766 2023-02-28 03507766 core:CurrentFinancialInstruments 2023-02-28 03507766 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 03507766 core:FurnitureFittings 2023-02-28 03507766 core:LandBuildings core:LongLeaseholdAssets 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 03507766

Daisycrest Limited

Unaudited Filleted Financial Statements

for the Period from 1 March 2023 to 28 February 2024

 

Daisycrest Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Daisycrest Limited

Company Information

Directors

Mr P Edwards

Ms N Yoshikawa

Registered office

9A Burroughs Gardens
London
NW4 4AU

Registered number

03507766

Accountants

Ripe LLP
9A Burroughs Gardens
London
NW4 4AU

 

Daisycrest Limited

(Registration number: 03507766)
Balance Sheet as at 28 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

294

5,047

Current assets

 

Stocks

5

254,123

207,348

Debtors

6

99,260

152,680

Cash at bank and in hand

 

59

59

 

353,442

360,087

Creditors: Amounts falling due within one year

7

(250,039)

(238,630)

Net current assets

 

103,403

121,457

Net assets

 

103,697

126,504

Capital and reserves

 

Called up share capital

8

14

14

Capital redemption reserve

86

86

Retained earnings

103,597

126,404

Shareholders' funds

 

103,697

126,504

 

Daisycrest Limited

(Registration number: 03507766)
Balance Sheet as at 28 February 2024

For the financial period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 

.........................................
Mr P Edwards
Director

.........................................
Ms N Yoshikawa
Director

 

Daisycrest Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9A Burroughs Gardens
London
NW4 4AU

The principal place of business is:
104 Kensington Church Street
London
W8 4BU

These financial statements were authorised for issue by the Board on 1 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

 

Daisycrest Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included increditors as deferred income.

Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure.

Tangible assets

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

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:

Asset class

Depreciation method and rate

Long leasehold property

Straight line over the term of lease

Fixtures and fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade 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 using the effective interest method, 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.

 

Daisycrest Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

Stocks

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 recognised immediately in profit or loss.

Trade 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 using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Daisycrest Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 March 2023

47,834

26,579

74,413

Disposals

-

(22,087)

(22,087)

Transfers

(47,834)

-

(47,834)

At 28 February 2024

-

4,492

4,492

Depreciation

At 1 March 2023

47,834

21,532

69,366

Charge for the period

-

1,262

1,262

Eliminated on disposal

-

(18,596)

(18,596)

Transfers

(47,834)

-

(47,834)

At 28 February 2024

-

4,198

4,198

Carrying amount

At 28 February 2024

-

294

294

At 28 February 2023

-

5,047

5,047

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

254,123

207,348

 

Daisycrest Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

99,260

54,390

Other debtors

-

98,290

 

99,260

152,680

 

Daisycrest Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Loans and borrowings

83,990

131,398

Trade creditors

 

60,436

-

Taxation and social security

 

705

4,319

Accruals and deferred income

 

4,450

5,000

Other creditors

 

100,458

97,913

 

250,039

238,630

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

14

14

14

14

       

9

Dividends

2024

2023

£

£

Interim dividend of £2,857.14 (2023 - £2,857.14) per ordinary share

40,000

40,000

 

 

10

Related party transactions

At the balance sheet date, the company owed £96,639 (2023 : £96,351) to the directors and shareholders of the company.