REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
Delayed Strike Technology Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
Delayed Strike Technology Limited |
Delayed Strike Technology Limited (Registered number: 08353645) |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Delayed Strike Technology Limited |
Company Information |
for the Year Ended 31 January 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
4 Cedar Park |
Cobham Road |
Ferndown Industrial Estate |
Wimborne |
Dorset |
BH21 7SF |
Delayed Strike Technology Limited (Registered number: 08353645) |
Abridged Statement of Financial Position |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
Delayed Strike Technology Limited (Registered number: 08353645) |
Abridged Statement of Financial Position - continued |
31 January 2024 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Delayed Strike Technology Limited (Registered number: 08353645) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Delayed Strike Technology Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared on the going concern basis which relies on the continued support of the directors and the company bankers. The directors have confirmed their support of the company for a period not less than twelve months from the date of signing these financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Patents and licences |
Patents and licences are included at cost. These are amortised over their useful lives of twenty years. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 |
No deferred tax has been recognised due to the timing differences being less than the available losses. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Delayed Strike Technology Limited (Registered number: 08353645) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a money purchase pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Impairment of assets |
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 February 2023 |
Additions |
At 31 January 2024 |
AMORTISATION |
At 1 February 2023 |
Amortisation for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Delayed Strike Technology Limited (Registered number: 08353645) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
6. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
7. | PENSION COMMITMENTS |
The company operates a money purchase pension scheme on behalf of its directors and employees. The assets of the scheme are held separately in an independently administered fund. At the balance sheet date, unpaid contributions of £56 (2023 - £38) were due to the fund. These are included within creditors. |
8. | OTHER FINANCIAL COMMITMENTS |
There were no other commitments, contingencies or guarantees made on behalf of the director. |
9. | OFF-BALANCE SHEET ARRANGEMENTS |
There were no off-balance sheet arrangements at the balance sheet date. |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
There were no advances to the director, Mr R W J Cordle during the financial year. At the financial year end, the director was owed a balance of £213,550 (2023 - £218,550). The loan is unsecured, interest free and repayable on demand. |
A balance of £268,000 (2023 - £288,000) was owed to Mrs A T Cordle, the company secretary, at the financial year end. The loan is unsecured, interest free and repayable on demand. Mrs A T Cordle is the spouse of the director, Mr R W J Cordle. |
Delayed Strike Technology Limited (Registered number: 08353645) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
11. | SHARE-BASED PAYMENT TRANSACTIONS |
The company had issued share options to certain individuals to subscribe for ordinary shares of the company. All of the options had been granted under the company Enterprise Management Incentive Scheme. No further share options were granted during the the financial year (2023 - Nil). The number of remaining share options granted which are exercisable under the scheme as at the financial year end was Nil (2023 - Nil). The share options had an exercise price of £58.50 per ordinary share. |