2023-02-012024-01-312024-01-31false05335688DIRECT TECHNOLOGY UK 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DIRECT TECHNOLOGY UK LIMITED

Registered Number
05335688
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

DIRECT TECHNOLOGY UK LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

AZIZ, Kamran
OXLEY, John Edward Timothy

Registered Address

Eland House Eland Lane
Ponteland
Newcastle Upon Tyne
NE20 9TR

Registered Number

05335688 (England and Wales)
DIRECT TECHNOLOGY UK LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34,3066,247
4,3066,247
Current assets
Stocks445,4253,428
Debtors237,693130,685
Cash at bank and on hand48,94671,339
332,064205,452
Creditors amounts falling due within one year5(318,572)(308,249)
Net current assets (liabilities)13,492(102,797)
Total assets less current liabilities17,798(96,550)
Creditors amounts falling due after one year6(25,000)(35,000)
Net assets(7,202)(131,550)
Capital and reserves
Called up share capital100100
Profit and loss account(7,302)(131,650)
Shareholders' funds(7,202)(131,550)
The financial statements were approved and authorised for issue by the Board of Directors on 4 September 2024, and are signed on its behalf by:
AZIZ, Kamran
Director
Registered Company No. 05335688
DIRECT TECHNOLOGY UK LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Turnover policy
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 by reference to the stage of completion of the contract. The stage of completion of the contract is measured comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of the recoverable expenses when the outcome of a contract cannot be measured reliably.
Revenue from sale of goods
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, stated net of discounts and value added tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable the future economic benefits will flow to the company.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Vehicles25-
Office Equipment-20
Impairment of non-financial assets policy
Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Financial instruments
The company only enters into basic financial instrument 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 with related parties. Financial assets 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 profit or loss.
2.Average number of employees

20242023
Average number of employees during the year1515
3.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 February 2375,89260832476,824
Disposals(9,266)(608)-(9,874)
At 31 January 2466,626-32466,950
Depreciation and impairment
At 01 February 2369,9536081670,577
Charge for year1,437-651,502
On disposals(8,827)(608)-(9,435)
At 31 January 2462,563-8162,644
Net book value
At 31 January 244,063-2434,306
At 31 January 235,939-3086,247
4.Stocks

2024

2023

££
Work in progress45,4253,327
Other stocks-101
Total45,4253,428
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables110,512161,890
Taxation and social security37,15343,603
Other creditors92,323102,465
Accrued liabilities and deferred income78,584291
Total318,572308,249
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts25,00035,000
Total25,00035,000
7.Related party transactions
Included in other creditors are amounts of £63,083 due to the directors. These loans are interest free, unsecured and repayable on demand.