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REGISTERED NUMBER: 02638228 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Direct Business Systems Limited

Direct Business Systems Limited (Registered number: 02638228)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Direct Business Systems Limited

Company Information
for the year ended 31 December 2023







DIRECTOR: G A Hall



SECRETARY: I Hall



REGISTERED OFFICE: 320E Mayoral Way
Team Valley Trading Estate
Gateshead
Tyne & Wear
NE11 0RT



REGISTERED NUMBER: 02638228 (England and Wales)



ACCOUNTANTS: TTR Barnes
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG



BANKERS: Lloyds TSB Bank plc
41 Front Street
Whickham
Newcastle upon Tyne
Tyne and Wear
NE16 4ED

Direct Business Systems Limited (Registered number: 02638228)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 143,372 145,118

CURRENT ASSETS
Stocks 29,682 33,601
Debtors 5 92,647 102,456
Cash at bank and in hand 8,170 25,732
130,499 161,789
CREDITORS
Amounts falling due within one year 6 308,290 302,510
NET CURRENT LIABILITIES (177,791 ) (140,721 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(34,419

)

4,397

CREDITORS
Amounts falling due after more than one
year

7

(76,417

)

(119,417

)

PROVISIONS FOR LIABILITIES (19,222 ) (19,283 )
NET LIABILITIES (130,058 ) (134,303 )

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Revaluation reserve 9 80,379 80,379
Retained earnings (240,437 ) (244,682 )
SHAREHOLDERS' FUNDS (130,058 ) (134,303 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Direct Business Systems Limited (Registered number: 02638228)

Statement of Financial Position - continued
31 December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





G A Hall - Director


Direct Business Systems Limited (Registered number: 02638228)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Direct Business Systems 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the director considers to be appropriate.

Turnover
Turnover represents net sales of goods,excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Long leasehold - Straight line over 115 years
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where net realisable value is less than cost.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Direct Business Systems Limited (Registered number: 02638228)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 150,000 27,708 16,263 193,971
DEPRECIATION
At 1 January 2023 7,824 25,721 15,308 48,853
Charge for year 1,305 298 143 1,746
At 31 December 2023 9,129 26,019 15,451 50,599
NET BOOK VALUE
At 31 December 2023 140,871 1,689 812 143,372
At 31 December 2022 142,176 1,987 955 145,118

Cost or valuation at 31 December 2023 is represented by:

Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
Valuation in 2016 88,208 27,708 16,263 132,179
Cost 61,792 - - 61,792
150,000 27,708 16,263 193,971

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 76,244 75,711
Other debtors 4,280 14,622
80,524 90,333

Direct Business Systems Limited (Registered number: 02638228)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 12,123 12,123

Aggregate amounts 92,647 102,456

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 43,000 43,000
Trade creditors 140,881 163,367
Taxation and social security 111,396 76,398
Other creditors 13,013 19,745
308,290 302,510

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 76,417 119,417

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 119,417 162,417

Bank borrowings are secured by fixed and floating charges over the assets of the company.

Finance leases are secured on the assets to which they relate.

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 80,379

Direct Business Systems Limited (Registered number: 02638228)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

10. DIRECTORS' AND SHAREHOLDERS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director and shareholder subsisted during the years ended 31 December 2023 and 31 December 2022.

2023 2022
£ £
Balance outstanding at start of the year12,491 9,610
Amounts advanced24,701 18,301
Amounts repaid(36,195 )(15,420)
Amounts written off- -
Amounts waived- -
Balance outstanding at end of the year 997 12,491


11. CONTROL

The controlling party is Direct Business Holdings Ltd, a company registered in England & Wales, due to its interest in the share capital of the company.

The ultimate controlling party is G A Hall, Director, by virtue of his interest in the share capital of the parent company.