REGISTERED NUMBER: |
DTE BUSINESS ADVISERS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2023 TO 29 NOVEMBER 2023 |
REGISTERED NUMBER: |
DTE BUSINESS ADVISERS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2023 TO 29 NOVEMBER 2023 |
DTE BUSINESS ADVISERS LIMITED (REGISTERED NUMBER: 04202581) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2023 TO 29 NOVEMBER 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
DTE BUSINESS ADVISERS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 MAY 2023 TO 29 NOVEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
DTE BUSINESS ADVISERS LIMITED (REGISTERED NUMBER: 04202581) |
STATEMENT OF FINANCIAL POSITION |
29 NOVEMBER 2023 |
2023 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
DTE BUSINESS ADVISERS LIMITED (REGISTERED NUMBER: 04202581) |
STATEMENT OF FINANCIAL POSITION - continued |
29 NOVEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DTE BUSINESS ADVISERS LIMITED (REGISTERED NUMBER: 04202581) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2023 TO 29 NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
DTE Business Advisers Limited is a private company, limited by shares, registered in England and Wales, registration number 04202581. The registered office address is The Exchange, 5 Bank Street, Bury, BL9 0DN. |
2. | ACCOUNTING POLICIES |
Basis of preparation |
Despite the current challenges faced in the UK economy at the present time, the directors have been encouraged with the results reported by the company for the period ended 29 November 2023. |
The company meets its day to day working capital requirements through an overdraft facility and loans from its shareholders. The company's forecast and projections show that the company will be able to operate within the level of its current arrangements. The directors are in regular contact with the finance providers and have no reason to believe that facilities will not remain available on current terms. |
Post period end management accounts, indicate the company continues to generate profits. |
The directors 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 annual financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about DTE Business Advisers Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates. |
The estimates are continuously evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised. |
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below. |
Making judgement based on knowledge of the customer on the level of provision required against amounts recoverable on contracts. Further information received after the statement of financial position date may impact on the level of provision required. |
Making judgement based on knowledge of the customer on the level of provision required for bad debts. Further information received after the statement of financial position date may impact on the level of provision required. |
DTE BUSINESS ADVISERS LIMITED (REGISTERED NUMBER: 04202581) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MAY 2023 TO 29 NOVEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Revenue |
Revenue represents amounts chargeable to clients for professional services provided during the period, inclusive of direct expenses incurred on client assignments but excluding value added tax. Turnover is recognised when a right to consideration has been obtained through performance on each assignment. Consideration accrues as activity progresses by reference to the value of the work performed. Turnover is not recognised where the right to receive payment is contingent on events outside the control of the company. |
Unbilled revenue is included on the statement of financial position within debtors as 'unbilled amounts for client work'. |
Property, plant and equipment |
Plant and machinery etc | - |
The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date.The effects of any revision are recognised in the income statement when the change arises. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to the income statement as incurred. |
Pensions |
The company operates a defined contribution pension scheme. Contributions payable for the period are charged in the income statement. |
DTE BUSINESS ADVISERS LIMITED (REGISTERED NUMBER: 04202581) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MAY 2023 TO 29 NOVEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Income from fixed asset investments |
Income from fixed asset investments is received in the form of dividends and is credited to the income statement when receivable. |
Fixed asset investments |
Fixed asset investments in subsidiary undertakings are stated at cost, unless in the opinion of the directors there has been a permanent diminution in value, in which case an appropriate adjustment is made. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. |
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) |
At 29 November 2023 |
DEPRECIATION |
At 1 May 2023 |
Charge for period |
Eliminated on disposal | ( |
) |
At 29 November 2023 |
NET BOOK VALUE |
At 29 November 2023 |
At 30 April 2023 |
DTE BUSINESS ADVISERS LIMITED (REGISTERED NUMBER: 04202581) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MAY 2023 TO 29 NOVEMBER 2023 |
4. | PROPERTY, PLANT AND EQUIPMENT - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2023 |
Transfer to ownership | (28,629 | ) |
At 29 November 2023 |
DEPRECIATION |
At 1 May 2023 |
Charge for period |
Transfer to ownership | (341 | ) |
At 29 November 2023 |
NET BOOK VALUE |
At 29 November 2023 |
At 30 April 2023 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 May 2023 |
and 29 November 2023 |
NET BOOK VALUE |
At 29 November 2023 |
At 30 April 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Unbilled amounts for client work |
Other debtors |
DTE BUSINESS ADVISERS LIMITED (REGISTERED NUMBER: 04202581) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MAY 2023 TO 29 NOVEMBER 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 8) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Non-cancellable | operating leases |
2023 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2023 |
£ | £ |
Bank overdraft |
Hire purchase contracts | 1,166 | 28,278 |
Bank overdrafts are secured by way of a legal charge over the undertaking and assets of the company present and future. |
The hire purchase contracts are secured on the assets concerned. |
DTE BUSINESS ADVISERS LIMITED (REGISTERED NUMBER: 04202581) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MAY 2023 TO 29 NOVEMBER 2023 |
10. | SUBSEQUENT EVENTS |
On 30 November 2023, the entire share capital of the ultimate parent company, DTE Business Advisers Group Limited was acquired by DJH Mitten Clarke Group Limited. |