Acorah Software Products - Accounts Production 15.0.500 false true false 8 February 2023 29 February 2024 29 February 2024 14648556 Mr WILLIAM ROSE Mrs Elaine Rose Mr W Rose and Mrs E Rose true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14648556 2023-02-07 14648556 2024-02-29 14648556 2023-02-08 2024-02-29 14648556 frs-core:CurrentFinancialInstruments 2024-02-29 14648556 frs-core:Non-currentFinancialInstruments 2024-02-29 14648556 frs-core:PlantMachinery 2024-02-29 14648556 frs-core:PlantMachinery 2023-02-08 2024-02-29 14648556 frs-core:PlantMachinery 2023-02-07 14648556 frs-core:ShareCapital 2024-02-29 14648556 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 14648556 frs-bus:PrivateLimitedCompanyLtd 2023-02-08 2024-02-29 14648556 frs-bus:FilletedAccounts 2023-02-08 2024-02-29 14648556 frs-bus:SmallEntities 2023-02-08 2024-02-29 14648556 frs-bus:AuditExempt-NoAccountantsReport 2023-02-08 2024-02-29 14648556 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-08 2024-02-29 14648556 1 2023-02-08 2024-02-29 14648556 frs-bus:Director1 2023-02-08 2024-02-29 14648556 frs-bus:Director2 2023-02-08 2024-02-29 14648556 frs-countries:EnglandWales 2023-02-08 2024-02-29
DARA DISTILLERY LIMITED
Unaudited Financial Statements
For the Period 8 February 2023 to 29 February 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14648556
29 February 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 5,784
5,784
CURRENT ASSETS
Stocks 5 7,740
Debtors 6 3,946
Cash at bank and in hand 15,652
27,338
Creditors: Amounts Falling Due Within One Year 7 (22,097 )
NET CURRENT ASSETS (LIABILITIES) 5,241
TOTAL ASSETS LESS CURRENT LIABILITIES 11,025
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (1,099 )
NET ASSETS 9,926
CAPITAL AND RESERVES
Called up share capital 9 2
Profit and Loss Account 9,924
SHAREHOLDERS' FUNDS 9,926
Page 1
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For the period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr WILLIAM ROSE
Director
26/03/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dara Distillery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14648556. The registered office is 10 Carlton Close, London NW3 7UA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance Basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, excluding directors, during the period was: NIL
-
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 8 February 2023 -
Additions 7,712
As at 29 February 2024 7,712
Depreciation
As at 8 February 2023 -
Provided during the period 1,928
As at 29 February 2024 1,928
Net Book Value
As at 29 February 2024 5,784
As at 8 February 2023 -
5. Stocks
29 February 2024
£
Stock 7,740
6. Debtors
29 February 2024
£
Due within one year
Other debtors 2,371
2,371
Due after more than one year
Other debtors 1,575
1,575
3,946
7. Creditors: Amounts Falling Due Within One Year
29 February 2024
£
Trade creditors 1,453
Corporation tax 1,255
Accruals and deferred income 1,418
Amounts owed to associates 17,971
22,097
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8. Deferred Taxation
The provision for deferred tax is made up as follows:
Provision has been made for the difference in taxation treatment in respect of the Tax write down of Plant and Equipment and the Accounting Depreciation
29 February 2024
£
Other timing differences 1,099
9. Share Capital
29 February 2024
£
Allotted, Called up and fully paid 2
10. Ultimate Controlling Party
The company's ultimate controlling party are Mr W Rose and Mrs E Rose by virtue of his ownership of 50% each of the issued share capital in the company.
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