Registered number
07943931
Dulai Enterprises Ltd
Abridged Accounts
29 February 2024
Dulai Enterprises Ltd
Registered number: 07943931
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 31,998 -
Tangible assets 4 1,544,149 1,356,006
1,576,147 1,356,006
Current assets
Stocks 8,435 9,260
Debtors 5 1,220,909 1,120,765
Cash at bank and in hand 48,790 36,644
1,278,134 1,166,669
Creditors: amounts falling due within one year 6 (143,154) (117,927)
Net current assets 1,134,980 1,048,742
Total assets less current liabilities 2,711,127 2,404,748
Creditors: amounts falling due after more than one year 7 (7,000) (7,000)
Net assets 2,704,127 2,397,748
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,704,027 2,397,648
Shareholders' funds 2,704,127 2,397,748
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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 G S Dulai
Director
Approved by the board on 27 August 2024
Dulai Enterprises Ltd
Notes to the Accounts
for the year ended 29 February 2024
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% R.B
Fixtures, fittings, tools and equipment 25% R.B
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 85,850
Additions 39,997
At 29 February 2024 125,847
Amortisation
At 1 March 2023 85,850
Provided during the year 7,999
At 29 February 2024 93,849
Net book value
At 29 February 2024 31,998
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2023 1,523,766 202,251 1,726,017
Additions 195,890 36,559 232,449
At 29 February 2024 1,719,656 238,810 1,958,466
Depreciation
At 1 March 2023 215,942 154,069 370,011
Charge for the year 31,595 12,711 44,306
At 29 February 2024 247,537 166,780 414,317
Net book value
At 29 February 2024 1,472,119 72,030 1,544,149
At 28 February 2023 1,307,824 48,182 1,356,006
5 Debtors 2024 2023
£ £
Other debtors 1,220,909 1,120,765
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 31,038 13,113
Taxation and social security costs 156,886 138,964
Other creditors (44,770) (34,150)
143,154 117,927
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 7,000 7,000
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Gurmail Singh Dulai
Directors Loan 17,675 22,385 (17,675) 22,385
Harkanwaljit Kaur Dulai
Directors Loan 17,675 22,385 (17,675) 22,385
35,350 44,770 (35,350) 44,770
9 Other information
Dulai Enterprises Ltd is a private company limited by shares and incorporated in England. Its registered office is:
28 West Meadows Road
Cleadon
Tyne & Wear
SR6 7TU
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