Registered number
09896373
DRAGONFLY GROUP LIMITED
Unaudited Filleted Accounts
31 December 2023
DRAGONFLY GROUP LIMITED
Registered number: 09896373
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 9,710 17,924
Current assets
Stocks 2,850 2,885
Cash at bank and in hand 154 1,042
3,004 3,927
Creditors: amounts falling due within one year 4 (124,297) (119,831)
Net current liabilities (121,293) (115,904)
Total assets less current liabilities (111,583) (97,980)
Creditors: amounts falling due after more than one year 5 (105,088) (105,088)
Net liabilities (216,671) (203,068)
Capital and reserves
Called up share capital 100 100
Profit and loss account (216,771) (203,168)
Shareholder's funds (216,671) (203,068)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Nicola Allison
Director
Approved by the board on 12 August 2024
DRAGONFLY GROUP LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets (pre-publication costs) are measured at cost less accumulative amortisation and any accumulative impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Going concern
At the balance sheet date, the company's liabilities exceeded its assets. The sole director has undertaken that she will continue to give financial support to the company for at least twelve months from the date of signing these accounts, and therefore considers it appropriate to prepare the accounts on a going concern basis.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Pre-publication costs:
Cost
At 1 January 2023 141,081
Additions 3,535
At 31 December 2023 144,616
Amortisation
At 1 January 2023 123,157
Provided during the year 11,749
At 31 December 2023 134,906
Net book value
At 31 December 2023 9,710
At 31 December 2022 17,924
Pre-publication costs are being written off in equal annual instalments over an estimated economic life of 5 years.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,272 1,272
Trade creditors 4,730 4,590
Other creditors 118,295 113,969
124,297 119,831
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 5,088 5,088
Other creditors 100,000 100,000
105,088 105,088
6 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 6,360 6,360
The loan repesents a standard bank "Bounce Back Loan" secured by government guarantee, with interest at 2.5%, and repayable over 6 years with no interest payments in first 12 months.
7 Related party transactions
Other creditors falling due within one year and other creditors falling due after one year both represent long-term loans to the company from the sole director which are unsecured, interest free and with no fixed repayment date.
8 Other information
DRAGONFLY GROUP LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Nicholson House
41 Thames Street
Weybridge
Surrey
KT13 8JG
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