Registered number
07839799
Dandelion Trading (UK) Limited
Unaudited Filleted Accounts
30 November 2023
Dandelion Trading (UK) Limited
Registered number: 07839799
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 76,705 95,882
Tangible assets 4 206,329 251,712
283,034 347,594
Current assets
Stocks 90,000 120,000
Debtors 5 61,569 92,845
Cash at bank and in hand 270,707 303,246
422,276 516,091
Creditors: amounts falling due within one year 6 (352,800) (416,991)
Net current assets 69,476 99,100
Total assets less current liabilities 352,510 446,694
Creditors: amounts falling due after more than one year 7 (77,258) (136,593)
Net assets 275,252 310,101
Capital and reserves
Called up share capital 20 20
Profit and loss account 275,232 310,081
Shareholder's funds 275,252 310,101
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 his 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.
Mr Y Lu
Director
Approved by the board on 27 August 2024
Dandelion Trading (UK) Limited
Notes to the Accounts
for the year ended 30 November 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 from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Warehouse improvement over the lease term
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 400 of the Companies Act 2006 as it is a wholly-owned subsidiary undertaking of Rallycart Ltd , a company incorporated in England and Wales.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 24 18
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 191,767
At 30 November 2023 191,767
Amortisation
At 1 December 2022 95,885
Provided during the year 19,177
At 30 November 2023 115,062
Net book value
At 30 November 2023 76,705
At 30 November 2022 95,882
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Warehouse improvement Total
£ £ £
Cost
At 1 December 2022 353,687 73,917 427,604
Additions 15,492 - 15,492
At 30 November 2023 369,179 73,917 443,096
Depreciation
At 1 December 2022 161,108 14,784 175,892
Charge for the year 53,483 7,392 60,875
At 30 November 2023 214,591 22,176 236,767
Net book value
At 30 November 2023 154,588 51,741 206,329
At 30 November 2022 192,579 59,133 251,712
5 Debtors 2023 2022
£ £
Trade debtors 2,072 7,264
Amounts owed by companies under common control
23,634 24,385
Other debtors 35,863 61,196
61,569 92,845
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 65,466 28,243
Obligations under finance lease and hire purchase contracts 33,512 33,512
Trade creditors 30,604 98,764
Amounts owed to companies under common control
55,952 60,938
Taxation and social security costs 34,450 52,902
Other creditors 132,816 142,632
352,800 416,991
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 30,679 57,973
Obligations under finance lease and hire purchase contracts 46,579 78,620
77,258 136,593
8 Related party transactions
The company has taken advantages of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland not to disclose related party transactions with wholly owned by parent company in the group.
9 Controlling party
The company is under the control of the shareholder, Mr Y Lu by virtue of his shareholdings in the company.
10 Other information
Dandelion Trading (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
31 Burleigh Street
Cambridge
CB1 1DG
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