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Company No: 07096884 (England and Wales)

DACS DESIGN AND PRINT CONSULTANCY LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

DACS DESIGN AND PRINT CONSULTANCY LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

DACS DESIGN AND PRINT CONSULTANCY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
DACS DESIGN AND PRINT CONSULTANCY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 22,193 266
22,193 266
Current assets
Debtors 4 18,661 23,218
Cash at bank and in hand 5 21,216 13,780
39,877 36,998
Creditors: amounts falling due within one year 6 ( 33,144) ( 23,386)
Net current assets 6,733 13,612
Total assets less current liabilities 28,926 13,878
Creditors: amounts falling due after more than one year 7 ( 15,930) 0
Provision for liabilities 8 ( 3,710) ( 51)
Net assets 9,286 13,827
Capital and reserves
Called-up share capital 100 100
Profit and loss account 9,186 13,727
Total shareholder's funds 9,286 13,827

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.

Director's responsibilities:

The financial statements of Dacs Design and Print Consultancy Limited (registered number: 07096884) were approved and authorised for issue by the Director. They were signed on its behalf by:

Michael John Archer
Director

10 September 2024

DACS DESIGN AND PRINT CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
DACS DESIGN AND PRINT CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

DACS Design & Print Consultancy Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 43 Nelson Drive, Little Plumstead, Norwich, NR13 5FL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

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

The following principal accounting policies have been applied:

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
· the Company has transferred the significant risks and rewards of ownership to the buyer;
· the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
· the amount of turnover can be measured reliably;
· it is probable that the Company will receive the consideration due under the transaction; and
· the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are
provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
· the amount of turnover can be measured reliably;
· it is probable that the Company will receive the consideration due under the contract;
· the stage of completion of the contract at the end of the reporting period can be measured reliably; and
· the costs incurred and the costs to complete the contract can be measured reliably

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Taxation


Deferred tax
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
· The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
· Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible fixed assets

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Vehicles 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 4 years straight line

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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of financial position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 January 2023 0 791 3,076 3,867
Additions 24,675 644 2,231 27,550
At 31 December 2023 24,675 1,435 5,307 31,417
Accumulated depreciation
At 01 January 2023 0 525 3,076 3,601
Charge for the financial year 4,935 129 559 5,623
At 31 December 2023 4,935 654 3,635 9,224
Net book value
At 31 December 2023 19,740 781 1,672 22,193
At 31 December 2022 0 266 0 266

4. Debtors

2023 2022
£ £
Trade debtors 17,459 23,056
Other debtors 1,202 162
18,661 23,218

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 21,216 13,780

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 16,918 9,111
Taxation and social security 2,634 10,722
Obligations under finance leases and hire purchase contracts 5,622 0
Other creditors 7,970 3,553
33,144 23,386

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts 15,930 0

Included in obligations under finance leases and hire purchase contracts is £21,553 which is secured against the assets themselves.

8. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 51) ( 76)
(Charged)/credited to the Income Statement ( 3,659) 25
At the end of financial year ( 3,710) ( 51)