1 April 2023 v2024.43.2 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsexbrli:purexbrli:sharesiso4217:GBP049960942023-04-012024-03-31049960942024-03-3104996094bus:Director12023-04-012024-03-3104996094bus:Director22023-04-012024-03-3104996094bus:CompanySecretary12023-04-012024-03-3104996094bus:RegisteredOffice2023-04-012024-03-31049960942022-04-012023-03-31049960942023-03-3104996094core:WithinOneYear2024-03-3104996094core:WithinOneYear2023-03-3104996094core:ShareCapital2024-03-3104996094core:ShareCapital2023-03-3104996094core:RetainedEarningsAccumulatedLosses2024-03-3104996094core:RetainedEarningsAccumulatedLosses2023-03-3104996094core:PlantMachinery2023-04-012024-03-3104996094core:PlantMachinery2024-03-3104996094core:PlantMachinery2023-04-0104996094core:PlantMachinery2023-03-3104996094core:BetweenOneFiveYears2024-03-310499609412023-04-012024-03-3104996094countries:EnglandWales2023-04-012024-03-3104996094bus:AuditExemptWithAccountantsReport2023-04-012024-03-3104996094bus:PrivateLimitedCompanyLtd2023-04-012024-03-3104996094bus:SmallEntities2023-04-012024-03-3104996094bus:FullAccounts2023-04-012024-03-31
Company registration number:
04996094
DK-Schweizer (UK) Limited
Unaudited Financial Statements for the year ended
31 March 2024
DK-Schweizer (UK) Limited
Officers and Professional Advisers
Year ended
31 March 2024
Directors
Mr Poh Min KOEK
Mr Khoon Lee LIM
Company secretary
Mr R J Stevens
Registered office
Unit 14B Westside Centre
London Road, Stanway
Colchester
Essex
CO3 8PH
United Kingdom
Accountant
BARRIE INGRAM Accounts Ltd
69 Endsleigh Court
Lexden
Colchester
Essex
CO3 3QW
United Kingdom
DK-Schweizer (UK) Limited
Directors' Report
Year ended
31 March 2024
The directors present their report and the unaudited
financial statements
of the company for the year ended
31 March 2024
.
Statement of directors responsibilities
The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations. Company law requires the directors to prepare accounts for each financial year. Under that law, the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
-select suitable accounting policies and then apply them consistently:
-make judgements and estimates that are reasonable and prudent:
-prepare the accounts on the going concern basis unless it is inappropriate to resume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at ant time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served the company during the year were as follows:
Mr Poh Min KOEK
Mr Khoon Lee LIM

Qualifying indemnity provision. The company has provided, with third party insurers, indemnity insurance for the benefit of the Directors and Office Holders

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
13 September 2024
and signed on behalf of the board by:
Mr Poh Min KOEK
Director
DK-Schweizer (UK) Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of DK-Schweizer (UK) Limited
Year ended
31 March 2024
These financial statements have been prepared in accordance with our terms of engagement and in order to assist the Directors to fulfil their duties under the Companies Act 2006, that relate to preparing the financial statements of the company for the year ended 31 March 2024
As described on the statement of financial position, the Board of Directors of
DK-Schweizer (UK) Limited
are responsible for the preparation of the
financial statements
for the year ended
31 March 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
We have prepared these in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us. We do not express any opinion on the financial statements.
On the statement of financial position the directors have acknowledged their duties under the prevailing Companies Act to ensure that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.
The directors have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 March 2024.
The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
BARRIE INGRAM Accounts Ltd
69 Endsleigh Court
Lexden
Colchester
Essex
CO3 3QW
United Kingdom
Date:
13 September 2024
DK-Schweizer (UK) Limited
Income Statement
Year ended
31 March 2024
20242023
££
Turnover
1,893,676
 
1,481,989
 
Cost of sales
(903,243
) (617,579 )
Gross profit
990,433
 
864,410
 
Distribution costs
(144,233
)
(136,501
)
Administrative expenses
(724,881
)
(656,434
)
Operating profit
121,319
 
71,475
 
Profit before tax
121,319
 
71,475
 
Tax on profit -   -  
Profit for the financial year
121,319
 
71,475
 
The company has no other recognised items of income or expense other than the results for the year as set out above.
DK-Schweizer (UK) Limited
Statement of Financial Position
31 March 2024
20242023
Note££
Fixed assets    
Tangible assets 5
624
 
780
 
Current assets    
Stocks
58,314
 
67,866
 
Debtors 6
300,287
 
349,285
 
Cash at bank and in hand
125,396
 
148,026
 
483,997
 
565,177
 
Creditors: amounts falling due within one year 7
(928,263
)
(1,130,918
)
Net current liabilities
(444,266
)
(565,741
)
Total assets less current liabilities (443,642 ) (564,961 )
Capital and reserves    
Called up share capital
250,000
 
250,000
 
Profit and loss account
(693,642
)
(814,961
)
Shareholders deficit
(443,642
)
(564,961
)
For the year ending
31 March 2024
, 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
financial statements
were approved by the board of directors and authorised for issue on
13 September 2024
, and are signed on behalf of the board by:
Mr Poh Min KOEK
Director
Company registration number:
04996094
DK-Schweizer (UK) Limited
Notes to the Financial Statements
Year ended
31 March 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 14B Westside Centre
,
London Road, Stanway
,
Colchester
,
Essex
, CO3 8PH, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'. There were no material departures from that standard.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% Reducing Balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
13
(2023:
15.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 April 2023
and
31 March 2024
20,610
 
Depreciation  
At
1 April 2023
19,830
 
Charge
156
 
At
31 March 2024
19,986
 
Carrying amount  
At
31 March 2024
624
 
At 31 March 2023
780
 

6 Debtors

20242023
££
Trade debtors
245,974
 
297,261
 
Other debtors
54,313
 
52,024
 
300,287
 
349,285
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
1,991
 
4,492
 
Trade creditors
306,069
 
352,939
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
529,716
 
729,716
 
Taxation and social security
90,487
 
43,771
 
928,263
 
1,130,918
 

8 Operating leases

The company as lessee    
20242023
££
Not later than 1 year
10,145
 
5,251.00
 
Later than 1 year and not later than 5 years
33,817
 - 
43,962
 
5,251