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Registration number: 02624608

Dee-Scan Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 March 2024

 

Dee-Scan Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Dee-Scan Limited

Company Information

Director

Mr J P Taylor

Company secretary

Mr J P Taylor

Registered office

1 Bond Street
Colne
Lancashire
BB8 9DG

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Dee-Scan Limited
for the Year Ended 29 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dee-Scan Limited for the year ended 29 March 2024 as set out on pages 3 to 10 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that Dee-Scan Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Dee-Scan Limited. You consider that Dee-Scan 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 accounts of Dee-Scan 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 accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

4 September 2024

 

Dee-Scan Limited

(Registration number: 02624608)
Balance Sheet as at 29 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

780

Tangible assets

5

13,300

2,158

 

13,300

2,938

Current assets

 

Stocks

6

54,110

45,127

Debtors

7

131,102

135,160

Cash at bank and in hand

 

25,045

-

 

210,257

180,287

Creditors: Amounts falling due within one year

8

(88,606)

(92,005)

Net current assets

 

121,651

88,282

Total assets less current liabilities

 

134,951

91,220

Creditors: Amounts falling due after more than one year

8

(37,100)

(31,104)

Net assets

 

97,851

60,116

Capital and reserves

 

Called up share capital

484

484

Retained earnings

97,367

59,632

Shareholders' funds

 

97,851

60,116

For the financial year ending 29 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Dee-Scan Limited

(Registration number: 02624608)
Balance Sheet as at 29 March 2024

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 September 2024
 

.........................................
Mr J P Taylor
Company secretary and director

 

Dee-Scan Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2024

1

General information

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

The address of its registered office is:
1 Bond Street
Colne
Lancashire
BB8 9DG

These financial statements were authorised for issue by the director on 4 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 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 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.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Dee-Scan Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2024

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

Plant and machinery

Reducing balance 15%

Fixtures and fittings

Reducing balance 15%

Motor vehicles

Reducing balance 25%

Computer equipment

Straight line 33%

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

Straight line over 5 years

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Dee-Scan Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2024

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Dee-Scan Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 3 (2023 - 4).

4

Intangible assets

Development
Costs
£

Total
£

Cost or valuation

At 30 March 2023

6,479

6,479

At 29 March 2024

6,479

6,479

Amortisation

At 30 March 2023

5,699

5,699

Amortisation charge

780

780

At 29 March 2024

6,479

6,479

Carrying amount

At 29 March 2024

-

-

At 29 March 2023

780

780

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 30 March 2023

39,048

5,000

-

44,048

Additions

739

-

14,450

15,189

At 29 March 2024

39,787

5,000

14,450

59,237

Depreciation

At 30 March 2023

37,747

4,143

-

41,890

Charge for the year

305

129

3,613

4,047

At 29 March 2024

38,052

4,272

3,613

45,937

Carrying amount

At 29 March 2024

1,735

728

10,837

13,300

At 29 March 2023

1,301

857

-

2,158

 

Dee-Scan Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2024

6

Stocks

2024
£

2023
£

Other inventories

54,110

45,127

7

Debtors

2024
£

2023
£

Trade debtors

93,459

118,861

Prepayments

3,740

-

Other debtors

33,903

16,299

131,102

135,160

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

8,714

8,135

Trade creditors

 

56,249

45,436

Taxation and social security

 

20,127

31,714

Accruals and deferred income

 

2,500

1,750

Other creditors

 

1,016

4,970

 

88,606

92,005

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

37,100

31,104

The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets.

 

Dee-Scan Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

29,107

31,104

Hire purchase contracts

7,993

-

37,100

31,104

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,717

5,717

Bank overdrafts

-

2,418

Hire purchase contracts

2,997

-

8,714

8,135