DEDAR (UK) LIMITED 07462998 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is is that of wholesale of textiles Digita Accounts Production Advanced 6.30.9574.0 true true true 07462998 2023-01-01 2023-12-31 07462998 2023-12-31 07462998 bus:OrdinaryShareClass1 bus:OtherShareType 2023-12-31 07462998 core:CurrentFinancialInstruments 2023-12-31 07462998 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07462998 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 07462998 core:FurnitureFittingsToolsEquipment 2023-12-31 07462998 core:LandBuildings 2023-12-31 07462998 core:ParentEntities 2023-12-31 07462998 bus:SmallEntities 2023-01-01 2023-12-31 07462998 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07462998 bus:AbridgedAccounts 2023-01-01 2023-12-31 07462998 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07462998 bus:RegisteredOffice 2023-01-01 2023-12-31 07462998 bus:Director2 2023-01-01 2023-12-31 07462998 bus:Director3 2023-01-01 2023-12-31 07462998 bus:OrdinaryShareClass1 bus:OtherShareType 2023-01-01 2023-12-31 07462998 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07462998 core:FurnitureFittings 2023-01-01 2023-12-31 07462998 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 07462998 core:LandBuildings 2023-01-01 2023-12-31 07462998 core:OfficeEquipment 2023-01-01 2023-12-31 07462998 core:ParentEntities 2023-01-01 2023-12-31 07462998 1 2023-01-01 2023-12-31 07462998 countries:England 2023-01-01 2023-12-31 07462998 2022-12-31 07462998 core:FurnitureFittingsToolsEquipment 2022-12-31 07462998 core:LandBuildings 2022-12-31 07462998 core:ParentEntities 2022-12-31 07462998 2022-01-01 2022-12-31 07462998 2022-12-31 07462998 bus:OrdinaryShareClass1 bus:OtherShareType 2022-12-31 07462998 core:CurrentFinancialInstruments 2022-12-31 07462998 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 07462998 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 07462998 core:FurnitureFittingsToolsEquipment 2022-12-31 07462998 core:LandBuildings 2022-12-31 07462998 core:ParentEntities 2022-12-31 07462998 2021-12-31 07462998 core:ParentEntities 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07462998

DEDAR (UK) LIMITED

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2023

 

DEDAR (UK) LIMITED

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

DEDAR (UK) LIMITED

Company Information

Directors

Ms Andreea Ecaterina Mocanu

Mr Raffaele Fabrizio

Registered office

3 The Shrubberies
George Lane
London
E18 1BD

Accountants

ACCOUNTING 2 TREND LTD
3 The Shrubberies
George Lane
London
E18 1BD

 

DEDAR (UK) LIMITED

(Registration number: 07462998)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

23,690

25,645

Current assets

 

Debtors

202,826

317,455

Cash at bank and in hand

 

259,856

303,066

 

462,682

620,521

Prepayments and accrued income

 

73,065

42,981

Creditors: Amounts falling due within one year

(856,559)

(846,130)

Net current liabilities

 

(320,812)

(182,628)

Total assets less current liabilities

 

(297,122)

(156,983)

Creditors: Amounts falling due after more than one year

(272,500)

(1,122,500)

Accruals and deferred income

 

(83,499)

(53,030)

Net liabilities

 

(653,121)

(1,332,513)

Capital and reserves

 

Called up share capital

5

900,000

50,000

Retained earnings

(1,553,121)

(1,382,513)

Shareholders' deficit

 

(653,121)

(1,332,513)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 5 September 2024 and signed on its behalf by:
 

 

DEDAR (UK) LIMITED

(Registration number: 07462998)
Abridged Balance Sheet as at 31 December 2023

.........................................
Ms Andreea Ecaterina Mocanu
Director

 

DEDAR (UK) LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3 The Shrubberies
George Lane
London
E18 1BD
United Kingdom

These financial statements were authorised for issue by the Board on 5 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

DEDAR (UK) LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture and fittings

25% reducing balance

Office equipment

25% reducing balance

Land and buildings

straight line over lease period

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

DEDAR (UK) LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2022 - 12).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

-

89,915

89,915

Additions

642

3,762

4,404

Disposals

-

(1,202)

(1,202)

At 31 December 2023

642

92,475

93,117

Depreciation

At 1 January 2023

-

64,270

64,270

Charge for the year

213

4,944

5,157

At 31 December 2023

213

69,214

69,427

Carrying amount

At 31 December 2023

429

23,261

23,690

At 31 December 2022

-

25,645

25,645

Included within the net book value of land and buildings above is £429 (2022 - £Nil) in respect of short leasehold land and buildings.
 

5

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

900,000

900,000

50,000

50,000

       
 

DEDAR (UK) LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

6

Related party transactions

Loans from related parties

2023

Parent
£

Total
£

At start of period

1,122,500

1,122,500

Advanced

100,000

100,000

Repaid

(950,000)

(950,000)

At end of period

272,500

272,500

2022

Parent
£

Total
£

At start of period

1,122,500

1,122,500

At end of period

1,122,500

1,122,500

7

Parent and ultimate parent undertaking

The company's immediate parent is Dedar Spa, incorporated in Italy.