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REGISTERED NUMBER: 04717004 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

DZINE FURNISHING SOLUTIONS LIMITED

DZINE FURNISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 04717004)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


DZINE FURNISHING SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs B A Vickery
Mr J G Ready
Mrs M Ready
Mrs M L Amphlett
Mr D J C Watkins
Mr N P Amphlett





SECRETARY: Mrs M L Amphlett





REGISTERED OFFICE: Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF





REGISTERED NUMBER: 04717004 (England and Wales)





ACCOUNTANTS: E R Grove & Co Limited
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DZINE FURNISHING SOLUTIONS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dzine Furnishing Solutions Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Dzine Furnishing Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Dzine Furnishing Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Dzine Furnishing Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dzine Furnishing Solutions Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Dzine Furnishing Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dzine Furnishing Solutions Limited. You consider that Dzine Furnishing Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Dzine Furnishing Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






E R Grove & Co Limited
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF


5 September 2024

DZINE FURNISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 04717004)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 905,834 669,476

CURRENT ASSETS
Debtors 5 636,878 477,413
Cash at bank and in hand 1,315,251 1,059,634
1,952,129 1,537,047
CREDITORS
Amounts falling due within one year 6 774,020 526,788
NET CURRENT ASSETS 1,178,109 1,010,259
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,083,943

1,679,735

CREDITORS
Amounts falling due after more than one
year

7

(78,749

)

(292,587

)

PROVISIONS FOR LIABILITIES (227,168 ) (108,649 )
NET ASSETS 1,778,026 1,278,499

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 1,777,906 1,278,379
SHAREHOLDERS' FUNDS 1,778,026 1,278,499

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





Mr N P Amphlett - Director


DZINE FURNISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 04717004)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Dzine Furnishing Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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 balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful 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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 36 ) .

DZINE FURNISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 04717004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 24,131 501,673 283,364
Additions - 368,713 60,826
Disposals - (224,580 ) (1,762 )
At 31 March 2024 24,131 645,806 342,428
DEPRECIATION
At 1 April 2023 9,653 304,999 130,737
Charge for year 2,413 161,452 32,102
Eliminated on disposal - (224,580 ) (1,762 )
At 31 March 2024 12,066 241,871 161,077
NET BOOK VALUE
At 31 March 2024 12,065 403,935 181,351
At 31 March 2023 14,478 196,674 152,627

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 570,824 46,534 1,426,526
Additions 92,250 13,218 535,007
Disposals (500 ) (4,325 ) (231,167 )
At 31 March 2024 662,574 55,427 1,730,366
DEPRECIATION
At 1 April 2023 270,433 41,228 757,050
Charge for year 98,318 4,364 298,649
Eliminated on disposal (500 ) (4,325 ) (231,167 )
At 31 March 2024 368,251 41,267 824,532
NET BOOK VALUE
At 31 March 2024 294,323 14,160 905,834
At 31 March 2023 300,391 5,306 669,476

DZINE FURNISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 04717004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 182,311
DEPRECIATION
At 1 April 2023 45,578
Charge for year 34,183
At 31 March 2024 79,761
NET BOOK VALUE
At 31 March 2024 102,550
At 31 March 2023 136,733

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 293,530 225,718
Other debtors 343,348 251,695
636,878 477,413

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 70,635 70,635
Trade creditors 149,187 53,553
Taxation and social security 343,626 194,596
Other creditors 210,572 208,004
774,020 526,788

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 4,817 70,370
Other creditors 73,932 222,217
78,749 292,587

DZINE FURNISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 04717004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 73,626 73,626
Between one and five years 12,065 85,691
85,691 159,317

Finance charges repayable:
Within one year 2,991 2,991
Between one and five years 7,248 15,321
10,239 18,312

Net obligations repayable:
Within one year 70,635 70,635
Between one and five years 4,817 70,370
75,452 141,005

Non-cancellable operating leases
2024 2023
£    £   
Within one year 9,172 13,555
Between one and five years 3,114 12,286
12,286 25,841

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 75,452 141,005

Santander UK plc holds a fixed and floating charge over the company's assets.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mrs B A Vickery
Balance outstanding at start of year (26,519 ) (10,025 )
Amounts advanced 157,186 73,506
Amounts repaid (90,000 ) (90,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 40,667 (26,519 )

DZINE FURNISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 04717004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs M L Amphlett
Balance outstanding at start of year (6,833 ) -
Amounts advanced 128,245 83,167
Amounts repaid (90,000 ) (90,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 31,412 (6,833 )

Mr N P Amphlett
Balance outstanding at start of year (15,370 ) 50,763
Amounts advanced 102,782 74,867
Amounts repaid (90,000 ) (141,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,588 ) (15,370 )

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £270,000 (2023 - £270,000) were paid to the directors .

During the year the company was charged rent, insurance and electricity of £210,430 (2023: £629,266) from BLN Investments Limited. At the year end date £31,031 (2023: £11,388) was outstanding. BLN Investments Limited is under the control of Mrs B A Vickery, Mrs M L Amphlett and Mr N P Amphlett.