Dakro Air & Water Limited 14663898 false 2023-02-15 2024-03-31 2024-03-31 The principal activity of the company is specialising in all aspects of Legionella control, water treatment and air hygiene. Digita Accounts Production Advanced 6.30.9574.0 true 14663898 2023-02-15 2024-03-31 14663898 2024-03-31 14663898 bus:OrdinaryShareClass1 2024-03-31 14663898 core:RetainedEarningsAccumulatedLosses 2024-03-31 14663898 core:ShareCapital 2024-03-31 14663898 core:CurrentFinancialInstruments 2024-03-31 14663898 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14663898 core:Non-currentFinancialInstruments 2024-03-31 14663898 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 14663898 core:Goodwill 2024-03-31 14663898 core:FurnitureFittingsToolsEquipment 2024-03-31 14663898 core:MotorVehicles 2024-03-31 14663898 core:OtherPropertyPlantEquipment 2024-03-31 14663898 bus:SmallEntities 2023-02-15 2024-03-31 14663898 bus:AuditExemptWithAccountantsReport 2023-02-15 2024-03-31 14663898 bus:FilletedAccounts 2023-02-15 2024-03-31 14663898 bus:SmallCompaniesRegimeForAccounts 2023-02-15 2024-03-31 14663898 bus:RegisteredOffice 2023-02-15 2024-03-31 14663898 bus:Director1 2023-02-15 2024-03-31 14663898 bus:Director5 2023-02-15 2024-03-31 14663898 bus:OrdinaryShareClass1 2023-02-15 2024-03-31 14663898 bus:PrivateLimitedCompanyLtd 2023-02-15 2024-03-31 14663898 core:Goodwill 2023-02-15 2024-03-31 14663898 core:FurnitureFittings 2023-02-15 2024-03-31 14663898 core:FurnitureFittingsToolsEquipment 2023-02-15 2024-03-31 14663898 core:MotorVehicles 2023-02-15 2024-03-31 14663898 core:OtherPropertyPlantEquipment 2023-02-15 2024-03-31 14663898 core:PlantMachinery 2023-02-15 2024-03-31 14663898 countries:EnglandWales 2023-02-15 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14663898

Dakro Air & Water Limited

Unaudited Filleted Financial Statements

for the Period from 15 February 2023 to 31 March 2024

 

Dakro Air & Water Limited

Contents


 

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 11

 

Dakro Air & Water Limited

Registration number: 14663898

Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

13,502

Tangible assets

5

180,234

 

193,736

Current assets

 

Stocks

6

19,359

Debtors

7

557,649

Cash at bank and in hand

 

13,339

 

590,347

Creditors: Amounts falling due within one year

8

(692,186)

Net current liabilities

 

(101,839)

Total assets less current liabilities

 

91,897

Creditors: Amounts falling due after more than one year

8

(65,971)

Provisions for liabilities

(8,579)

Net assets

 

17,347

Capital and reserves

 

Called up share capital

9

100

Retained earnings

17,247

Shareholders' funds

 

17,347



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

Dakro Air & Water Limited

Registration number: 14663898

Balance Sheet as at 31 March 2024 (continued)

For the financial period 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 August 2024 and signed on its behalf by:
 

T J Field
Director

D E Bending
Director

 
     

 

Dakro Air & Water Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Astle House
12b Cookley Wharf
Leys Road
Brierley Hill
West Midlands
DY5 3UP
England

These financial statements were authorised for issue by the Board on 28 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

 

Dakro Air & Water Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Dakro Air & Water Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Reducing balance

Fixture & Fittings

20% Reducing balance

Motor Vehicles

20% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight line

 

Dakro Air & Water Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Dakro Air & Water Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 39.

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions

15,002

15,002

At 31 March 2024

15,002

15,002

Amortisation

Amortisation charge

1,500

1,500

At 31 March 2024

1,500

1,500

Carrying amount

At 31 March 2024

13,502

13,502

 

Dakro Air & Water Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 31 March 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

Additions

1,000

250,574

32,931

284,505

Disposals

-

(24,037)

-

(24,037)

At 31 March 2024

1,000

226,537

32,931

260,468

Depreciation

Charge for the

200

71,801

8,233

80,234

At 31 March 2024

200

71,801

8,233

80,234

Carrying amount

At 31 March 2024

800

154,736

24,698

180,234

6

Stocks

2024
£

Other inventories

19,359

 

Dakro Air & Water Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 31 March 2024 (continued)

7

Debtors

Current

2024
£

Trade debtors

462,172

Prepayments

35,059

Other debtors

60,418

 

557,649

Included within trade debtors are balances totalling £442,282 that are subject to factoring arrangements. The trade debtor balances have been transferred to the counterparty, though the transaction does not qualify for derecognition on the basis that the risk is retained by the company. The associated liability recognised in creditors amounts to £328,592.
 

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Bank loans and overdrafts

10

93,679

Trade creditors

 

71,692

Directors loan account

11

49,900

Taxation and social security

 

139,278

Other creditors

 

337,637

 

692,186

Due after one year

 

Loans and borrowings

10

65,971


Included in other creditors is £328,591 due under factoring arrangements. This is secured by a fixed and floating charge against all the company assets.

 

Dakro Air & Water Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 31 March 2024 (continued)

8

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

10

65,971

9

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £1 each

100

100

   

10

Loans and borrowings

2024
£

Non-current loans and borrowings

HP and finance lease liabilities

65,971

2024
£

Current loans and borrowings

HP and finance lease liabilities

93,679

 

Dakro Air & Water Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 31 March 2024 (continued)

11

Related party transactions

On 2nd March 2023, Dakro Air & Water Ltd aquired for £56,000 the trade, goodwill and net assets from a company which two of the Directors held a participating interest and three of the Directors held an interest.