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Registered number: 07435121
Dacia Felix Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07435121
2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,000 10,000
Tangible Assets 5 95,967 103,384
105,967 113,384
CURRENT ASSETS
Stocks 6 35,500 31,500
Debtors 7 32,260 -
Cash at bank and in hand 24,852 46,385
92,612 77,885
Creditors: Amounts Falling Due Within One Year 8 (38,061 ) (38,692 )
NET CURRENT ASSETS (LIABILITIES) 54,551 39,193
TOTAL ASSETS LESS CURRENT LIABILITIES 160,518 152,577
NET ASSETS 160,518 152,577
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 160,418 152,477
SHAREHOLDERS' FUNDS 160,518 152,577
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Ovidiu Sarpe
Director
19/08/2024
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
Dacia Felix Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07435121 . The registered office is 121a Burnt Oak Broadway, Edgware, HA8 5EN.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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:
Motor Vehicles 15%
Fixtures & Fittings 20%
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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, including directors, during the year was: 7 (2022: 9)
7 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 10,000
As at 30 November 2023 10,000
Net Book Value
As at 30 November 2023 10,000
As at 1 December 2022 10,000
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 December 2022 83,866 130,578 214,444
Additions - 13,081 13,081
As at 30 November 2023 83,866 143,659 227,525
Depreciation
As at 1 December 2022 31,151 79,909 111,060
Provided during the period 7,907 12,591 20,498
As at 30 November 2023 39,058 92,500 131,558
Net Book Value
As at 30 November 2023 44,808 51,159 95,967
As at 1 December 2022 52,715 50,669 103,384
6. Stocks
2023 2022
as restated
£ £
Materials 35,500 31,500
Page 4
Page 5
7. Debtors
2023 2022
as restated
£ £
Due within one year
Trade debtors 32,260 -
8. Creditors: Amounts Falling Due Within One Year
2023 2022
as restated
£ £
Other taxes and social security 19,569 12,897
Other creditors 18,492 25,795
38,061 38,692
9. Share Capital
2023 2022
as restated
£ £
Allotted, Called up and fully paid 100 100
10. Dividends
2023 2022
as restated
£ £
On equity shares:
Final dividend paid 36,000 30,000
Final Dividend paid to Shareholder GBP 30000.00
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