1 November 2022 false No description of principal activity Taxfiler 2024.6 12251216business:PrivateLimitedCompanyLtd2022-11-012023-10-31 122512162022-10-31 122512162022-11-012023-10-31 12251216business:AuditExemptWithAccountantsReport2022-11-012023-10-31 12251216business:FilletedAccounts2022-11-012023-10-31 122512162023-10-31 12251216business:Director12022-11-012023-10-31 12251216business:Director22022-11-012023-10-31 12251216business:RegisteredOffice2022-11-012023-10-31 122512162022-10-31 12251216core:WithinOneYear2023-10-31 12251216core:WithinOneYear2022-10-31 12251216core:AfterOneYear2023-10-31 12251216core:AfterOneYear2022-10-31 12251216core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 12251216core:ShareCapitalcore:PreviouslyStatedAmount2022-10-31 12251216core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 12251216core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-10-31 12251216core:PreviouslyStatedAmount2023-10-31 12251216core:PreviouslyStatedAmount2022-10-31 12251216business:SmallEntities2022-11-012023-10-31 12251216countries:EnglandWales2022-11-012023-10-31 12251216core:LandBuildings2022-10-31 12251216core:LandBuildings2023-10-31 122512162021-11-012022-10-31 iso4217:GBP xbrli:pure
Company Registration No. 12251216 (England and Wales)
DISCOVERY GROUP LTD unaudited finanacial statements for the year ended 31 October 2023
DISCOVERY GROUP LTD unaudited finanacial statements Contents
Page
- 2 -
DISCOVERY GROUP LTD Company Information for the year ended 31 October 2023
Directors
Mohammed Sajjad RASHID Sohail RASHID
Company Number
12251216 (England and Wales)
Registered Office
46 LISTERHILLS ROAD BRADFORD BD7 1HT UNITED KINGDOM
Accountants
HLA Accountants 21 Hyde Park Road Leeds West Yorkshire LS6 1PY
- 3 -
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of DISCOVERY GROUP LTD for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DISCOVERY GROUP LTD for the year ended 31 October 2023 as set out on pages 5 - 7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
HLA Accountants Chartered Certified Accountants 21 Hyde Park Road Leeds West Yorkshire LS6 1PY 3 July 2024
- 4 -
DISCOVERY GROUP LTD Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
265,000 
265,000 
Current assets
Cash at bank and in hand
170,603 
127,751 
Creditors: amounts falling due within one year
(45,290)
(2,818)
Net current assets
125,313 
124,933 
Total assets less current liabilities
390,313 
389,933 
Creditors: amounts falling due after more than one year
(389,997)
(389,997)
Net assets/(liabilities)
316 
(64)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
315 
(65)
Shareholders' funds
316 
(64)
For the year ending 31 October 2023 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 July 2024 and were signed on its behalf by
Mohammed Sajjad RASHID Director Company Registration No. 12251216
- 5 -
DISCOVERY GROUP LTD Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
DISCOVERY GROUP LTD is a private company, limited by shares, registered in England and Wales, registration number 12251216. The registered office is 46 LISTERHILLS ROAD, BRADFORD, BD7 1HT, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Investments
Investments in shares are included at fair value.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Trading activity
Buying and selling of own real estate also Other letting and operating of own or leased real estate
- 6 -
DISCOVERY GROUP LTD Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 November 2022
265,000 
At 31 October 2023
265,000 
Depreciation
At 31 October 2023
- 
Net book value
At 31 October 2023
265,000 
At 31 October 2022
265,000 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
74 
- 
Loans from directors
43,786 
- 
Accruals
1,430 
2,818 
45,290 
2,818 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
389,997 
389,997 
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
- 7 -