Company Registration No. 09671865 (England and Wales)
DARK MATTER BRANDS LTD
ABRIDGED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
DARK MATTER BRANDS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
DARK MATTER BRANDS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
42,400
47,700
Tangible assets
4
182,903
160,438
225,303
208,138
Current assets
Stocks
2,049
88,376
Debtors
5
7,000
64,015
Cash at bank and in hand
2,682
1,381
11,731
153,772
Creditors: amounts falling due within one year
6
(560,557)
(556,854)
Net current liabilities
(548,826)
(403,082)
Net liabilities
(323,523)
(194,944)
Capital and reserves
Called up share capital
204
204
Share premium account
149,996
149,996
Profit and loss reserves
(473,723)
(345,144)
Total equity
(323,523)
(194,944)

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

DARK MATTER BRANDS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 16 September 2024 and are signed on its behalf by:
R Sumner
Director
Company Registration No. 09671865
DARK MATTER BRANDS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Dark Matter Brands Ltd is a private company limited by shares incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The validity of going concern basis of preparation is dependent on continued financial support from the company's directors and other creditors and on the ability of the company to continue trading. Should the directors and other creditors withdraw their support and the company be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and re-classify fixed assets as current assets.true

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

 

1.5
Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property
30 years
Plant and machinery
25% on reducing balance
Software
15% on reducing balance
Computer equipment
33% on cost
1.6
Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.7
Taxation

There is no corporation tax liability during the year.

DARK MATTER BRANDS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Employees

The average number of employees, including directors, during the year was 12 (2022- 8).

3
Intangible fixed assets
Total
£
Cost
At 1 January 2023 and 31 December 2023
53,000
Amortisation and impairment
At 1 January 2023
5,300
Amortisation charged for the year
5,300
At 31 December 2023
10,600
Carrying amount
At 31 December 2023
42,400
At 31 December 2022
47,700
4
Tangible fixed assets
Leasehold property
Plant and machinery
Software
Computer equipment
Total
£
£
£
£
£
Cost
At 1 January 2023
131,933
2,277
69,515
1,398
205,123
Additions
12,306
25,694
-
0
1,166
39,166
At 31 December 2023
144,239
27,971
69,515
2,564
244,289
Depreciation and impairment
At 1 January 2023
4,398
964
37,925
1,398
44,685
Depreciation charged in the year
4,822
6,752
4,739
388
16,701
At 31 December 2023
9,220
7,716
42,664
1,786
61,386
Carrying amount
At 31 December 2023
135,019
20,255
26,851
778
182,903
At 31 December 2022
127,535
1,313
31,590
-
0
160,438
DARK MATTER BRANDS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
6,000
27,509
Other debtors
1,000
36,506
7,000
64,015
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,309
-
0
Trade creditors
28,698
61,961
Taxation and social security
7,519
2,789
Directors' loan accounts
520,531
489,604
Accruals
2,500
2,500
560,557
556,854
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