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REGISTERED NUMBER: 11749375 (England and Wales)















DRAGONFLY PRODUCTS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






DRAGONFLY PRODUCTS LIMITED (REGISTERED NUMBER: 11749375)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DRAGONFLY PRODUCTS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Mrs L Lambert
R Lambert





REGISTERED OFFICE: Unit 4
Kiln Hill Industrial Estate
Slaithwaite
Huddersfield
West Yorkshire
HD7 5JS





REGISTERED NUMBER: 11749375 (England and Wales)





ACCOUNTANTS: SMH Sheards
Chartered Accountants
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

DRAGONFLY PRODUCTS LIMITED (REGISTERED NUMBER: 11749375)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 8,730 500
Tangible assets 5 260,352 161,504
269,082 162,004

CURRENT ASSETS
Stocks 181,111 275,809
Debtors 6 11,475 7,384
Cash at bank and in hand 336,707 299,820
529,293 583,013
CREDITORS
Amounts falling due within one year 7 (192,078 ) (206,606 )
NET CURRENT ASSETS 337,215 376,407
TOTAL ASSETS LESS CURRENT
LIABILITIES

606,297

538,411

CREDITORS
Amounts falling due after more than one
year

8

(29,707

)

(35,592

)

PROVISIONS FOR LIABILITIES 10 (39,496 ) (26,873 )
NET ASSETS 537,094 475,946

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 537,074 475,926
SHAREHOLDERS' FUNDS 537,094 475,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

DRAGONFLY PRODUCTS LIMITED (REGISTERED NUMBER: 11749375)

BALANCE SHEET - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by:





R Lambert - Director


DRAGONFLY PRODUCTS LIMITED (REGISTERED NUMBER: 11749375)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Dragonfly Products 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised on the supply of goods to the customer excluding value added tax.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 15% on reducing balance, 10% on cost and over the lease term

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including other creditors and accruals, are initially recognised at transaction price.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.


DRAGONFLY PRODUCTS LIMITED (REGISTERED NUMBER: 11749375)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


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. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 22 ) .

DRAGONFLY PRODUCTS LIMITED (REGISTERED NUMBER: 11749375)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023 1,250
Additions 10,600
At 31 March 2024 11,850
AMORTISATION
At 1 April 2023 750
Charge for year 2,370
At 31 March 2024 3,120
NET BOOK VALUE
At 31 March 2024 8,730
At 31 March 2023 500

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 216,429
Additions 169,382
Disposals (28,600 )
At 31 March 2024 357,211
DEPRECIATION
At 1 April 2023 54,925
Charge for year 49,084
Eliminated on disposal (7,150 )
At 31 March 2024 96,859
NET BOOK VALUE
At 31 March 2024 260,352
At 31 March 2023 161,504

DRAGONFLY PRODUCTS LIMITED (REGISTERED NUMBER: 11749375)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 47,777
DEPRECIATION
At 1 April 2023 6,729
Charge for year 5,455
At 31 March 2024 12,184
NET BOOK VALUE
At 31 March 2024 35,593
At 31 March 2023 41,048

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 345
Other debtors 11,475 7,039
11,475 7,384

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 5,885 5,456
Trade creditors 43,566 70,910
Taxation and social security 133,922 109,745
Other creditors 8,705 20,495
192,078 206,606

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 29,707 35,592

DRAGONFLY PRODUCTS LIMITED (REGISTERED NUMBER: 11749375)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 35,592 41,048

The HP finance agreements are secured against the assets they were used to finance.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 39,496 26,873

Deferred
tax
£   
Balance at 1 April 2023 26,873
Provided during year 12,623
Balance at 31 March 2024 39,496

11. RELATED PARTY DISCLOSURES

Loans owing to the directors on an interest free basis of £3,062 (2023- £14,746) were outstanding at the year end, the amounts are repayable on demand.