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Registration number: 04386881

Dappleflair Limited

trading as Pirtek Leyton

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Dappleflair Limited

trading as Pirtek Leyton

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Dappleflair Limited

trading as Pirtek Leyton

Company Information

Directors

Mr A Williams

Miss C R Williams

Company secretary

Mrs AM Williams

Registered office

B02 Leyton Industrial Village
Argall Avenue
London
E10 7QP

 

Dappleflair Limited

trading as Pirtek Leyton

(Registration number: 04386881)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

45,504

-

Tangible assets

5

177,254

74,942

 

222,758

74,942

Current assets

 

Stocks

6

103,361

90,793

Debtors

7

236,004

204,419

Cash at bank and in hand

 

-

30,160

 

339,365

325,372

Creditors: Amounts falling due within one year

8

(332,283)

(200,397)

Net current assets

 

7,082

124,975

Total assets less current liabilities

 

229,840

199,917

Creditors: Amounts falling due after more than one year

8

(32,722)

(56,015)

Provisions for liabilities

(33,421)

(13,925)

Net assets

 

163,697

129,977

Capital and reserves

 

Called up share capital

60,000

60,000

Retained earnings

103,697

69,977

Shareholders' funds

 

163,697

129,977

 

Dappleflair Limited

trading as Pirtek Leyton

(Registration number: 04386881)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 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 year 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 A Williams
Director

   
     
 

Dappleflair Limited

trading as Pirtek Leyton

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
B02 Leyton Industrial Village
Argall Avenue
London
E10 7QP
United Kingdom

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Dappleflair Limited

trading as Pirtek Leyton

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

10 years straight line

Fixtures and fittings

10 years straight line

Motor vans

3 years straight line

Office equipment

5 years straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

 

Dappleflair Limited

trading as Pirtek Leyton

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2

Accounting policies (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

Franchise licence fees

10 years straight line

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.

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.

 

Dappleflair Limited

trading as Pirtek Leyton

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2

Accounting policies (continued)

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Dappleflair Limited

trading as Pirtek Leyton

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

4

Intangible assets

Goodwill
 £

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 April 2023

100,000

55,000

155,000

Additions acquired separately

16,275

30,000

46,275

At 31 March 2024

116,275

85,000

201,275

Amortisation

At 1 April 2023

100,000

55,000

155,000

Amortisation charge

271

500

771

At 31 March 2024

100,271

55,500

155,771

Carrying amount

At 31 March 2024

16,004

29,500

45,504

 

Dappleflair Limited

trading as Pirtek Leyton

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

58,274

29,683

104,139

102,942

295,038

Additions

-

17,989

207

119,737

137,933

At 31 March 2024

58,274

47,672

104,346

222,679

432,971

Depreciation

At 1 April 2023

33,406

28,570

97,260

60,860

220,096

Charge for the year

5,077

990

4,785

24,769

35,621

At 31 March 2024

38,483

29,560

102,045

85,629

255,717

Carrying amount

At 31 March 2024

19,791

18,112

2,301

137,050

177,254

At 31 March 2023

24,868

1,113

6,879

42,082

74,942

 

Dappleflair Limited

trading as Pirtek Leyton

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Stocks

2024
£

2023
£

Raw materials and consumables

103,361

90,793

7

Debtors

Current

2024
£

2023
£

Trade debtors

185,655

85,418

Prepayments

50,349

46,752

Other debtors

-

72,249

 

236,004

204,419

 

Dappleflair Limited

trading as Pirtek Leyton

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

30,933

24,088

Trade creditors

 

109,366

58,833

Taxation and social security

 

21,628

14,131

Accruals and deferred income

 

28,653

12,812

Other creditors

 

141,703

90,533

 

332,283

200,397

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

32,722

56,015

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

13,091

23,274

HP and finance lease liabilities

19,631

32,741

32,722

56,015

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,183

9,932

Bank overdrafts

5,251

-

Directors current account

2,689

2,690

Hire purchase liabilities

12,810

11,466

30,933

24,088

 

Dappleflair Limited

trading as Pirtek Leyton

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £137,500 (2023 - £167,500). The financial commitments being the rental of premises occupied by the company.

11

Related party transactions

Transactions with directors

All directors remuneration was concluded under normal market conditions.

Summary of transactions with other related parties

Pirtek (Watford) Ltd, AW Hydraulic Services Ltd, MacBeth 12 Ltd and Sageglen Ltd.

The companies listed above were under the common control of Mr A and Mrs A Williams.

 Dappleflair Ltd had provided loans to Pirtek (Watford) Ltd and AW Hydraulic Services Ltd. These have now been repaid in full. They have also received loans from MacBeth 12 Ltd and Sageglen Ltd.

All sales and purchases made with the other related parties were concluded under normal market conditions.

 

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

72,248

72,248

Repaid

(72,248)

(72,248)

At end of period

-

-

2023

Other related parties
£

Total
£

At start of period

72,248

72,248

At end of period

72,248

72,248

Terms of loans to related parties

There are no terms attached to the loans to entities with joint control or significant influence and no interest charged. The loans was repid in full during the year.

 

Dappleflair Limited

trading as Pirtek Leyton

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

11

Related party transactions (continued)

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

89,277

89,277

Advanced

50,000

50,000

At end of period

139,277

139,277

2023

Other related parties
£

Total
£

At start of period

89,277

89,277

At end of period

89,277

89,277

Terms of loans from related parties

There are no terms attached to the loans to entities with joint control or significant influence and no interest charged. The loans are repayable on demand.