REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
DES SERVICES GROUP UK LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
DES SERVICES GROUP UK LTD |
DES SERVICES GROUP UK LTD (REGISTERED NUMBER: 09671506) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DES SERVICES GROUP UK LTD |
COMPANY INFORMATION |
for the year ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
17 St Peters Place |
Fleetwood |
Lancashire |
FY7 6EB |
DES SERVICES GROUP UK LTD (REGISTERED NUMBER: 09671506) |
BALANCE SHEET |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
DES SERVICES GROUP UK LTD (REGISTERED NUMBER: 09671506) |
BALANCE SHEET - continued |
31 December 2023 |
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 |
DES SERVICES GROUP UK LTD (REGISTERED NUMBER: 09671506) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
DES Services Group Uk Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. |
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. |
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 NIL (2022 - NIL). |
DES SERVICES GROUP UK LTD (REGISTERED NUMBER: 09671506) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2023 |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Fair value at 31 December 2023 is represented by: |
£ |
Cost | 306,720 |
If investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 306,720 | 306,720 |
Investment property was valued on an open market basis on 31 December 2023 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Directors' current accounts | - | 72,748 |
DES SERVICES GROUP UK LTD (REGISTERED NUMBER: 09671506) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
VAT | 1,216 | 1,600 |
Directors' current accounts | 7,662 | - |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Bank loans at the year end amounted to £133,389 (2022: £153,129) with installments due greater than 5 years of £19,494 (2022: £Nil). |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The bank loan is secured on the property owned by the company. |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year the directors operated a loan account with the company. The balance outstanding to the company at 31 December 2023 was £Nil (2022: £72,748). |
The loan to the directors was unsecured and repayable on demand. Interest is payable at the HMRC rate applicable to beneficial loan arrangements. |
11. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £172,750 (2022 - £270,000) were paid to the directors . |