DDCT Limited 08819719 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the provision of retail outlets on Warren Farm Caravan Site, Brean. Digita Accounts Production Advanced 6.30.9574.0 true true 08819719 2023-02-01 2024-01-31 08819719 2024-01-31 08819719 core:CurrentFinancialInstruments 2024-01-31 08819719 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 08819719 core:Non-currentFinancialInstruments 2024-01-31 08819719 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 08819719 core:Goodwill 2024-01-31 08819719 core:OtherResidualIntangibleAssets 2024-01-31 08819719 core:MotorVehicles 2024-01-31 08819719 core:PlantMachinery 2024-01-31 08819719 1 2024-01-31 08819719 bus:SmallEntities 2023-02-01 2024-01-31 08819719 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 08819719 bus:FilletedAccounts 2023-02-01 2024-01-31 08819719 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 08819719 bus:RegisteredOffice 2023-02-01 2024-01-31 08819719 bus:Director1 2023-02-01 2024-01-31 08819719 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08819719 core:ComputerSoftware 2023-02-01 2024-01-31 08819719 core:Goodwill 2023-02-01 2024-01-31 08819719 core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 08819719 core:MotorVehicles 2023-02-01 2024-01-31 08819719 core:PlantMachinery 2023-02-01 2024-01-31 08819719 countries:AllCountries 2023-02-01 2024-01-31 08819719 1 2023-02-01 2024-01-31 08819719 2023-01-31 08819719 core:Goodwill 2023-01-31 08819719 core:OtherResidualIntangibleAssets 2023-01-31 08819719 core:MotorVehicles 2023-01-31 08819719 core:PlantMachinery 2023-01-31 08819719 1 2023-01-31 08819719 2022-02-01 2023-01-31 08819719 2023-01-31 08819719 core:CurrentFinancialInstruments 2023-01-31 08819719 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 08819719 core:Non-currentFinancialInstruments 2023-01-31 08819719 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 08819719 core:Goodwill 2023-01-31 08819719 core:OtherResidualIntangibleAssets 2023-01-31 08819719 core:MotorVehicles 2023-01-31 08819719 core:PlantMachinery 2023-01-31 08819719 1 2023-01-31 08819719 1 2022-02-01 2023-01-31 08819719 1 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 08819719

DDCT Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

DDCT Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

DDCT Limited

(Registration number: 08819719)
Statement of Financial Position as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

750

11,875

Tangible assets

5

21,644

17,683

 

22,394

29,558

Current assets

 

Stocks

6

88,817

83,214

Debtors

7

4,689

3,493

Cash at bank and in hand

 

24,837

42,982

 

118,343

129,689

Creditors: Amounts falling due within one year

8

(11,684)

(13,062)

Net current assets

 

106,659

116,627

Total assets less current liabilities

 

129,053

146,185

Creditors: Amounts falling due after more than one year

8

(31,989)

(42,446)

Provisions for liabilities

(1,159)

(1,820)

Net assets

 

95,905

101,919

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

95,805

101,819

Shareholders' funds

 

95,905

101,919

 

DDCT Limited

(Registration number: 08819719)
Statement of Financial Position as at 31 January 2024 (continued)

For the financial year ending 31 January 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 year 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 


Mrs C White
Director

 

DDCT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
80 Oxford Street
Burnham-On-Sea
Somerset
TA8 1EF

Principal activity

The principal activity of the company is the provision of retail outlets on Warren Farm Caravan Site, Brean.

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 prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

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.

 

DDCT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Motor vehicles

20% - Reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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

Website

-25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

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 statement of comprehensive income 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.

 

DDCT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 8).

 

DDCT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

4

Intangible assets

Goodwill
 £

Website
 £

Total
£

Cost or valuation

At 1 February 2023

100,000

4,670

104,670

At 31 January 2024

100,000

4,670

104,670

Amortisation

At 1 February 2023

90,000

2,795

92,795

Amortisation charge

10,000

1,125

11,125

At 31 January 2024

100,000

3,920

103,920

Carrying amount

At 31 January 2024

-

750

750

At 31 January 2023

10,000

1,875

11,875

5

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

38,666

18,380

57,046

Additions

10,857

-

10,857

Disposals

(392)

-

(392)

At 31 January 2024

49,131

18,380

67,511

Depreciation

At 1 February 2023

26,959

12,404

39,363

Charge for the year

5,631

1,195

6,826

Eliminated on disposal

(322)

-

(322)

At 31 January 2024

32,268

13,599

45,867

Carrying amount

At 31 January 2024

16,863

4,781

21,644

At 31 January 2023

11,707

5,976

17,683

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

88,817

83,214

 

DDCT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

7

Debtors

2024
£

2023
£

Other debtors

3,402

1,988

Prepayments

1,287

1,505

4,689

3,493

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

194

195

Taxation and social security

6,830

8,228

Accruals and deferred income

4,571

4,550

Other creditors

89

89

11,684

13,062

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

31,989

42,446

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

31,989

42,446

11

Related party transactions

Transactions with directors


 

 

DDCT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

11

Related party transactions (continued)

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Directors loan accounts

42,446

(74,457)

64,000

31,989

         
       

 

2023

At 1 February 2022
£

Advances to director
£

Repayments by director
£

At 31 January 2023
£

Directors loan accounts

74,766

(88,320)

56,000

42,446