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Registered number: 09336037
Douk Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Agile Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09336037
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,613 8,587
6,613 8,587
CURRENT ASSETS
Stocks 5 4,500 4,415
Debtors 6 4,787 4,050
Cash at bank and in hand - 542
9,287 9,007
Creditors: Amounts Falling Due Within One Year 7 (90,054 ) (80,700 )
NET CURRENT ASSETS (LIABILITIES) (80,767 ) (71,693 )
TOTAL ASSETS LESS CURRENT LIABILITIES (74,154 ) (63,106 )
Creditors: Amounts Falling Due After More Than One Year 8 (2,429 ) (3,644 )
NET LIABILITIES (76,583 ) (66,750 )
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account (76,593 ) (66,760 )
SHAREHOLDERS' FUNDS (76,583) (66,750)
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 16 August 2024 and were signed on its behalf by:
Mr L R Payne
Director
16 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Douk Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09336037 . The registered office is Unit 8 Bond Industrial Estate, Wickhamford, Evesham, WR11 7RL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors believe that notwithstanding current year losses, net current liabilities of £80,767 and net liabilities of £76,583, the company’s financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support from the directors will be adequate to meet the company’s needs for a period of at least 12 months from the date of approval of these financial statements.
2.3. Turnover
Revenue is recognised to the extent there is probable economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from the sale of goods is recognised when the significant risks and rewards of the ownership of the goods have passed to the buyer, usually on delivery of the goods and the costs incurred or to be incurred in respect of the transaction be measured reliably.
Revenue from a contract to provide services is recognised in the period in which the services are provided.
2.4. Tangible Fixed Assets and Depreciation
The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. 
Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred. 
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. 
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within the profit or loss. 
Plant & Machinery 25% on a reducing balance basis
Motor Vehicles 25% on a reducing balance basis
Computer Equipment 15% on a reducing balance basis
The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. 
Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred. 
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. 
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within the profit or loss. 
2.5. Leasing and Hire Purchase Contracts
Leases in which the company assumes substantially all the risks and rewards of ownership of the leased asset are classified as finance leases. All other leases are classified as operating leases.
Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised in profit and loss over the term of the lease an an integral part of the total lease expenses.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Financial Instruments
Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.
Impairment of financial assets
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 within profit or loss.
For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees during the year was as follows: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 50,173 7,300 3,153 60,626
As at 31 December 2023 50,173 7,300 3,153 60,626
Depreciation
As at 1 January 2023 44,628 6,001 1,410 52,039
Provided during the period 1,387 325 262 1,974
As at 31 December 2023 46,015 6,326 1,672 54,013
Net Book Value
As at 31 December 2023 4,158 974 1,481 6,613
As at 1 January 2023 5,545 1,299 1,743 8,587
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5. Stocks
2023 2022
£ £
Stock 4,500 4,415
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 1,500
Prepayments and accrued income 997 -
Other debtors 3,790 2,550
4,787 4,050
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 933 1
Bank loans and overdrafts 2,035 3,828
VAT 1,634 348
Other creditors 85,032 75,898
Accruals and deferred income 420 625
90,054 80,700
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 2,429 3,644
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10 10
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 10,200 6,800
Later than one year and not later than five years 6,800 -
17,000 6,800
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