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Registered number: 09850773
Darley Abbey Village Stores Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09850773
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,839 2,694
5,839 2,694
CURRENT ASSETS
Stocks 5 24,000 25,000
Debtors 6 68,324 7,540
Cash at bank and in hand 1,607 3,922
93,931 36,462
Creditors: Amounts Falling Due Within One Year 7 (93,338 ) (18,405 )
NET CURRENT ASSETS (LIABILITIES) 593 18,057
TOTAL ASSETS LESS CURRENT LIABILITIES 6,432 20,751
NET ASSETS 6,432 20,751
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 6,430 20,749
SHAREHOLDERS' FUNDS 6,432 20,751
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For the year ending 31 March 2024 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 Graham Mulholland
Director
30/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Darley Abbey Village Stores Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09850773 . The registered office is The Greenhouse, 106-108 Ashbourne Road, Derby, DE22 3AG.
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.
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:
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on reducing balanace
Computer Equipment 33% on cost
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 4)
6 4
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 700 11,981 - 12,681
Additions 2,500 708 2,119 5,327
Disposals (700 ) - - (700 )
As at 31 March 2024 2,500 12,689 2,119 17,308
Depreciation
As at 1 April 2023 700 9,287 - 9,987
Provided during the period 625 851 706 2,182
Disposals (700 ) - - (700 )
As at 31 March 2024 625 10,138 706 11,469
Net Book Value
As at 31 March 2024 1,875 2,551 1,413 5,839
As at 1 April 2023 - 2,694 - 2,694
5. Stocks
2024 2023
£ £
Stock 24,000 25,000
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 68,324 7,540
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,295 7,554
Other creditors 64,657 2,796
Taxation and social security 19,386 8,055
93,338 18,405
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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9. Directors Advances, Credits and Guarantees
Included within Other Creditors are the following loans from Directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Graham Mulholland 995 (46,013 ) 45,100 - 82
The above loan is unsecured, interest free and repayable on demand.
10. Ultimate Controlling Party
The company's ultimate controlling party is GM Ventures Derby Limited by virtue of his ownership of 100% of the issued share capital in the company.
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