Company registration number 04445984 (England and Wales)
DSEC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
DSEC LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
DSEC LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
10,518
19,652
Tangible assets
4
319,928
309,521
330,446
329,173
Current assets
Stocks
49,865
39,804
Debtors
5
571,134
520,487
Cash at bank and in hand
757,076
416,793
1,378,075
977,084
Creditors: amounts falling due within one year
6
(820,413)
(600,425)
Net current assets
557,662
376,659
Total assets less current liabilities
888,108
705,832
Creditors: amounts falling due after more than one year
7
(41,391)
(35,909)
Provisions for liabilities
(57,249)
(49,721)
Net assets
789,468
620,202
Capital and reserves
Called up share capital
8
100
100
Capital redemption reserve
26
26
Profit and loss reserves
789,342
620,076
Total equity
789,468
620,202
DSEC LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 25 October 2024 and are signed on its behalf by:
Mr DM Smalley
Director
Company registration number 04445984 (England and Wales)
DSEC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

DSEC Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Slaters Road, Stanningley, Leeds, West Yorkshire, United Kingdom, LS28 6EY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
20% straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% straight line
Plant and equipment
15% reducing balance
Computers
25% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

DSEC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

DSEC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
22
23
DSEC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
3
Intangible fixed assets
Other
£
Cost
At 1 July 2023 and 30 June 2024
45,672
Amortisation and impairment
At 1 July 2023
26,020
Amortisation charged for the year
9,134
At 30 June 2024
35,154
Carrying amount
At 30 June 2024
10,518
At 30 June 2023
19,652
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2023
5,600
81,487
20,337
498,156
605,580
Additions
-
0
-
0
4,448
151,451
155,899
Disposals
-
0
-
0
-
0
(146,105)
(146,105)
At 30 June 2024
5,600
81,487
24,785
503,502
615,374
Depreciation and impairment
At 1 July 2023
2,600
59,935
13,604
219,920
296,059
Depreciation charged in the year
560
3,233
3,863
89,819
97,475
Eliminated in respect of disposals
-
0
-
0
-
0
(98,088)
(98,088)
At 30 June 2024
3,160
63,168
17,467
211,651
295,446
Carrying amount
At 30 June 2024
2,440
18,319
7,318
291,851
319,928
At 30 June 2023
3,000
21,552
6,733
278,236
309,521
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
453,958
344,158
Other debtors
117,176
176,329
571,134
520,487
DSEC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
214,504
243,269
Corporation tax
144,216
192,892
Other taxation and social security
131,120
65,518
Other creditors
330,573
98,746
820,413
600,425
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
41,391
35,909
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of 10p each
1,000
100
100
100
2024-06-302023-07-01false25 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityDean Michael SmalleyMelanie Jane Smalleyfalsefalse044459842023-07-012024-06-30044459842024-06-30044459842023-06-3004445984core:IntangibleAssetsOtherThanGoodwill2024-06-3004445984core:IntangibleAssetsOtherThanGoodwill2023-06-3004445984core:LeaseholdImprovements2024-06-3004445984core:PlantMachinery2024-06-3004445984core:ComputerEquipment2024-06-3004445984core:MotorVehicles2024-06-3004445984core:LeaseholdImprovements2023-06-3004445984core:PlantMachinery2023-06-3004445984core:ComputerEquipment2023-06-3004445984core:MotorVehicles2023-06-3004445984core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3004445984core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3004445984core:Non-currentFinancialInstrumentscore:AfterOneYear2024-06-3004445984core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-3004445984core:CurrentFinancialInstruments2024-06-3004445984core:CurrentFinancialInstruments2023-06-3004445984core:ShareCapital2024-06-3004445984core:ShareCapital2023-06-3004445984core:CapitalRedemptionReserve2024-06-3004445984core:CapitalRedemptionReserve2023-06-3004445984core:RetainedEarningsAccumulatedLosses2024-06-3004445984core:RetainedEarningsAccumulatedLosses2023-06-3004445984bus:Director12023-07-012024-06-3004445984core:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-3004445984core:ComputerSoftware2023-07-012024-06-3004445984core:LeaseholdImprovements2023-07-012024-06-3004445984core:PlantMachinery2023-07-012024-06-3004445984core:ComputerEquipment2023-07-012024-06-3004445984core:MotorVehicles2023-07-012024-06-30044459842022-07-012023-06-3004445984core:IntangibleAssetsOtherThanGoodwill2023-06-3004445984core:LeaseholdImprovements2023-06-3004445984core:PlantMachinery2023-06-3004445984core:ComputerEquipment2023-06-3004445984core:MotorVehicles2023-06-30044459842023-06-3004445984core:WithinOneYear2024-06-3004445984core:WithinOneYear2023-06-3004445984core:Non-currentFinancialInstruments2024-06-3004445984core:Non-currentFinancialInstruments2023-06-3004445984bus:PrivateLimitedCompanyLtd2023-07-012024-06-3004445984bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3004445984bus:FRS1022023-07-012024-06-3004445984bus:AuditExemptWithAccountantsReport2023-07-012024-06-3004445984bus:Director22023-07-012024-06-3004445984bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP