Acorah Software Products - Accounts Production 16.0.110 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 06881951 Mr Kashmir Heran Mr Jagvinder Heran iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06881951 2023-01-31 06881951 2024-01-31 06881951 2023-02-01 2024-01-31 06881951 frs-core:CurrentFinancialInstruments 2024-01-31 06881951 frs-core:Non-currentFinancialInstruments 2024-01-31 06881951 frs-core:ComputerEquipment 2024-01-31 06881951 frs-core:ComputerEquipment 2023-02-01 2024-01-31 06881951 frs-core:ComputerEquipment 2023-01-31 06881951 frs-core:FurnitureFittings 2024-01-31 06881951 frs-core:FurnitureFittings 2023-02-01 2024-01-31 06881951 frs-core:FurnitureFittings 2023-01-31 06881951 frs-core:NetGoodwill 2024-01-31 06881951 frs-core:NetGoodwill 2023-02-01 2024-01-31 06881951 frs-core:NetGoodwill 2023-01-31 06881951 frs-core:PlantMachinery 2024-01-31 06881951 frs-core:PlantMachinery 2023-02-01 2024-01-31 06881951 frs-core:PlantMachinery 2023-01-31 06881951 frs-core:ShareCapital 2024-01-31 06881951 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 06881951 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06881951 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 06881951 frs-bus:SmallEntities 2023-02-01 2024-01-31 06881951 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 06881951 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 06881951 frs-bus:Director1 2023-02-01 2024-01-31 06881951 frs-bus:Director2 2023-02-01 2024-01-31 06881951 frs-countries:EnglandWales 2023-02-01 2024-01-31 06881951 2022-01-31 06881951 2023-01-31 06881951 2022-02-01 2023-01-31 06881951 frs-core:CurrentFinancialInstruments 2023-01-31 06881951 frs-core:Non-currentFinancialInstruments 2023-01-31 06881951 frs-core:ShareCapital 2023-01-31 06881951 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 06881951
Direct Auto Spares (UK) Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
MLK Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06881951
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,254 3,879
3,254 3,879
CURRENT ASSETS
Stocks 6 6,450 30,400
Debtors 7 14,340 385
Cash at bank and in hand 6,399 7,793
27,189 38,578
Creditors: Amounts Falling Due Within One Year 8 (528 ) (600 )
NET CURRENT ASSETS (LIABILITIES) 26,661 37,978
TOTAL ASSETS LESS CURRENT LIABILITIES 29,915 41,857
Creditors: Amounts Falling Due After More Than One Year 9 (41,987 ) (46,179 )
NET LIABILITIES (12,072 ) (4,322 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (12,073 ) (4,323 )
SHAREHOLDERS' FUNDS (12,072) (4,322)
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jagvinder Heran
Director
29/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Direct Auto Spares (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06881951 . The registered office is 32-34 Rookery Road, Handsworth, Birmingham, West Midlands, B21 9NB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 25% on reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 9,500
As at 31 January 2024 9,500
Amortisation
As at 1 February 2023 9,500
As at 31 January 2024 9,500
Net Book Value
As at 31 January 2024 -
As at 1 February 2023 -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 5,552 4,750 1,200 11,502
As at 31 January 2024 5,552 4,750 1,200 11,502
Depreciation
As at 1 February 2023 2,593 4,261 769 7,623
Provided during the period 444 73 108 625
As at 31 January 2024 3,037 4,334 877 8,248
Net Book Value
As at 31 January 2024 2,515 416 323 3,254
As at 1 February 2023 2,959 489 431 3,879
6. Stocks
2024 2023
£ £
Finished goods 6,450 30,400
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 14,340 -
Other taxes and social security - 385
14,340 385
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 -
VAT 527 600
528 600
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 41,987 46,179
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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