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Daniel G King Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07002482
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,668 734
26,668 734
CURRENT ASSETS
Debtors 5 10,796 13,806
Cash at bank and in hand 1,627 19,055
12,423 32,861
Creditors: Amounts Falling Due Within One Year 6 (19,029 ) (15,970 )
NET CURRENT ASSETS (LIABILITIES) (6,606 ) 16,891
TOTAL ASSETS LESS CURRENT LIABILITIES 20,062 17,625
Creditors: Amounts Falling Due After More Than One Year 7 (14,420 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,927 ) -
NET ASSETS 715 17,625
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 615 17,525
SHAREHOLDERS' FUNDS 715 17,625
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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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
On behalf of the board
D G King
Director
7 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Daniel G King Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07002482 . The registered office is C/O BWBCA Limited Office 44, A30 Business Centre, Okehampton, Devon, EX20 1BG.
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. Turnover
Turnover represents income due on contract services provided during the period, excluding value added tax. Income representsthe value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on cost
Motor Vehicles 20% on cost
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. 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 accounts receivable and payable and investments in non-putative ordinary shares.
Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.
Other financial assets
Other financial assets are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in the profit and loss account, except that investments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss account, are assessed for indicators of impairment at each reporting end date.
Other financial liabilities
Other financial liabilities, including debt instruments that do not meet the definition of a basic financial instruments, are measured at fair value through profit and loss account.
Creditors
Short term creditors aremeasured at the transaction price.Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortized cost using the effective interest method.
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2.6. 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 balance sheet date.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 1,930 - 3,245 5,175
Additions - 28,545 - 28,545
As at 31 March 2024 1,930 28,545 3,245 33,720
Depreciation
As at 1 April 2023 1,813 - 2,628 4,441
Provided during the period 117 2,141 353 2,611
As at 31 March 2024 1,930 2,141 2,981 7,052
Net Book Value
As at 31 March 2024 - 26,404 264 26,668
As at 1 April 2023 117 - 617 734
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,288 -
Other debtors 7,508 13,806
10,796 13,806
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,233 -
Other creditors 15,796 3,502
Taxation and social security - 12,468
19,029 15,970
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,420 -
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,233 -
Later than one year and not later than five years 14,420 -
17,653 -
17,653 -
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
75 Ordinary A shares of £ 1.00 each 75 75
25 Ordinary B shares of £ 1.00 each 25 25
100 100
10. Related Party Transactions
As at 31 March 2024 the company owed the director £14,996 (2023 - £2,842).
11. Ultimate Controlling Party
The ultimate controlling party is D G King.
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