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REGISTERED NUMBER: 06625352 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

DANISH CONCEPT STORES LIMITED

DANISH CONCEPT STORES LIMITED (REGISTERED NUMBER: 06625352)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DANISH CONCEPT STORES LIMITED

COMPANY INFORMATION
For The Year Ended 31 January 2024







DIRECTORS: Mr L V Jorgensen
Mrs J Jorgensen





REGISTERED OFFICE: 137A High Street
Sevenoaks
Kent
TN13 1UX





REGISTERED NUMBER: 06625352 (England and Wales)





ACCOUNTANTS: Robsons Accountants
19 Montpelier Avenue
Bexley
Kent
DA5 3AP

DANISH CONCEPT STORES LIMITED (REGISTERED NUMBER: 06625352)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 25,181 34,928
Tangible assets 5 4,064 15,936
29,245 50,864

CURRENT ASSETS
Stocks 811,456 1,655,976
Debtors 6 222,024 311,281
Cash at bank and in hand 70,950 95,349
1,104,430 2,062,606
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

(149,793

)

(565,136

)
NET CURRENT ASSETS 954,637 1,497,470
TOTAL ASSETS LESS CURRENT
LIABILITIES

983,882

1,548,334

PROVISIONS FOR LIABILITIES - (99,503 )
NET ASSETS 983,882 1,448,831

CAPITAL AND RESERVES
Called up share capital 120,000 120,000
Retained earnings 863,882 1,328,831
SHAREHOLDERS' FUNDS 983,882 1,448,831

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

DANISH CONCEPT STORES LIMITED (REGISTERED NUMBER: 06625352)

BALANCE SHEET - continued
31 January 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





Mr L V Jorgensen - Director


DANISH CONCEPT STORES LIMITED (REGISTERED NUMBER: 06625352)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

Danish Concept Stores Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 30% on reducing balance
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

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 Profit & Loss, 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.


DANISH CONCEPT STORES LIMITED (REGISTERED NUMBER: 06625352)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Pension costs and other post-retirement benefits
The company contributes to a defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and lease commitments
Rentals paid under operating lease are charged to profit or loss on a straight line basis over the period of the lease.

Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it relates.

A provision for warranties is recognised when the underlying products are sold, based on returns data since the year end date.

Going concern
The directors have assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern.

At the time of approving the financial statements the directors believe that all appropriate measures have been or will be taken to ensure that the company will be able to continue its operations for at least the next 12 months and thus conclude that the going concern basis remains appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 62 ) .

DANISH CONCEPT STORES LIMITED (REGISTERED NUMBER: 06625352)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 97,473
AMORTISATION
At 1 February 2023 62,545
Charge for year 9,747
At 31 January 2024 72,292
NET BOOK VALUE
At 31 January 2024 25,181
At 31 January 2023 34,928

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 February 2023 14,409 629,834 253,110 25,167 922,520
Disposals (10,209 ) (545,162 ) (207,511 ) - (762,882 )
At 31 January 2024 4,200 84,672 45,599 25,167 159,638
DEPRECIATION
At 1 February 2023 10,218 621,582 251,931 22,853 906,584
Charge for year 420 1,707 1,179 579 3,885
Eliminated on disposal (7,453 ) (539,931 ) (207,511 ) - (754,895 )
At 31 January 2024 3,185 83,358 45,599 23,432 155,574
NET BOOK VALUE
At 31 January 2024 1,015 1,314 - 1,735 4,064
At 31 January 2023 4,191 8,252 1,179 2,314 15,936

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 152,980 64,181
Tax - 77,771
VAT - 41,637
Prepayments and accrued income 52,145 110,793
205,125 294,382

DANISH CONCEPT STORES LIMITED (REGISTERED NUMBER: 06625352)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 January 2024

6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Rent deposits 16,899 16,899

Aggregate amounts 222,024 311,281

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 97,054 490,136
Social security and other taxes 9,439 24,639
VAT 19,271 -
Other creditors 4,224 8,970
Directors' current accounts 780 9,202
Accrued expenses 19,025 32,189
149,793 565,136

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr L V Jorgensen
Balance outstanding at start of year (9,202 ) (36,071 )
Amounts advanced 8,422 26,869
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (780 ) (9,202 )

9. RELATED PARTY DISCLOSURES

During the period sales were made to an entity under the control of a director amounting to £88869 (2023: £27165l) and purchase invoices received amounting to £70061 (2023:£76969). At the balance sheet date the company owed this company £84846 (2023: (£34912)).

During the period a loan of £3756 from Danish Collection Limited, a company in which the shareholders own 100% of the share capital, was written off.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors L V Jorgensen and J N Jorgensen.