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Registered Number: 10548620
England and Wales

 

 

 

D&D STORES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 63,001    70,001 
Tangible fixed assets 4 37,830    60,747 
100,831    130,748 
Current assets      
Stocks 5 85,000    80,000 
Debtors 6 23,479    8,981 
Cash at bank and in hand 292,331    184,736 
400,810    273,717 
Creditors: amount falling due within one year 7 (138,965)   (118,031)
Net current assets 261,845    155,686 
 
Total assets less current liabilities 362,676    286,434 
Creditors: amount falling due after more than one year 8 (15,000)   (23,960)
Provisions for liabilities 9 (7,188)   (11,542)
Net assets 340,488    250,932 
 

Capital and reserves
     
Called up share capital 10 100    100 
Profit and loss account 340,388    250,832 
Shareholders' funds 340,488    250,932 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 August 2024 and were signed on its behalf by:


-------------------------------
D E Walkling
Director
1
General Information
D&D Stores Ltd is a private company, limited by shares, registered in England and Wales, registration number 10548620, registration address Londis, Bossiney Road, Tintagel, Cornwall, PL34 0AJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted by the end of the reporting period. Deferred tax is recognised on all 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. 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 reporting period.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Commercial Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 23 (2022 : 22).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2022 70,001    70,001 
Additions  
Disposals  
At 30 November 2023 70,001    70,001 
Amortisation
At 01 December 2022  
Charge for year 7,000    7,000 
On disposals  
At 30 November 2023 7,000    7,000 
Net book values
At 30 November 2023 63,001    63,001 
At 30 November 2022 70,001    70,001 


4.

Tangible fixed assets

Cost or valuation Commercial Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 December 2022 35,787    95,205    130,992 
Additions   490    490 
Disposals (35,787)     (35,787)
At 30 November 2023   95,695    95,695 
Depreciation
At 01 December 2022 24,840    45,405    70,245 
Charge for year   12,460    12,460 
On disposals (24,840)     (24,840)
At 30 November 2023   57,865    57,865 
Net book values
Closing balance as at 30 November 2023   37,830    37,830 
Opening balance as at 01 December 2022 10,947    49,800    60,747 


5.

Stocks

2023
£
  2022
£
Stocks 85,000    80,000 
85,000    80,000 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Other Debtors 23,479    8,981 
23,479    8,981 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 49,969    41,203 
Taxation and Social Security 39,927    11,287 
Other Creditors 49,069    65,541 
138,965    118,031 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Other Creditors 15,000    23,960 
15,000    23,960 

9.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 7,188    11,542 
7,188    11,542 

10.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

11.

Director’s loan

Director's Loan

At 30 November 2023, the Directors Loan Account of £33,036 (2022 - £48,893) is unsecured, repayable on demand and currently interest free. During the period the directors incurred in the following transactions :

Director Loan Account   Balance B/F
£
  Advances
£
  Credits
£
  Balance C/F
£
Director Loan 48,893  (16,857) 1,000  33,036 
48,893  (16,857) 1,000  33,036 
 
12.

Control

The company was under the control of the director throughout the current and previous year. 
2