Company registration number 08396328 (England and Wales)
DALEY & SON (UK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
DALEY & SON (UK) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
DALEY & SON (UK) LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
24,165
22,552
Current assets
Debtors
5
232,754
234,755
Cash at bank and in hand
1,390
29,478
234,144
264,233
Creditors: amounts falling due within one year
6
(228,828)
(221,269)
Net current assets
5,316
42,964
Net assets
29,481
65,516
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
29,381
65,416
Total equity
29,481
65,516
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 October 2024
Karen Daley
Director
Company registration number 08396328 (England and Wales)
DALEY & SON (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information
DALEY & SON (UK) LIMITED is a private company limited by shares incorporated in England and Wales. The registered office is 1 Queens Parade, Brownlow Road, London, N11 2DN.
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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
These financial statements are prepared on the going concern basis. The director has confirmed in writing that the company will continue in operational existence for the foreseeable future.true
1.3
Fixed asset investments
Interests in its wholly owned subsidiary undertakings are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Changes in the fair value of unlisted investments are recognised in profit or loss account in the year concerned.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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.
1.5
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.
DALEY & SON (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
2
Employees
The average monthly number of person employed by the company during the year was:
2023
2022
Number
Number
Total
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
6,473
6,473
Other investments other than loans
17,692
16,079
24,165
22,552
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 December 2022
6,473
16,079
22,552
Valuation changes
-
1,613
1,613
At 30 November 2023
6,473
17,692
24,165
Carrying amount
At 30 November 2023
6,473
17,692
24,165
At 30 November 2022
6,473
16,079
22,552
4
Subsidiaries
Details of the company's subsidiaries at 30 November 2023 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Reamplus Limited
England & Wales
Supply and fitting of floor coverings
Ordinary
100.00
0
Essendon Carpet Co. Ltd
England & Wales
Carpet contractors
Ordinary
100.00
0
DALEY & SON (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
4
Subsidiaries
(Continued)
- 4 -
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
£
£
Reamplus Limited
(11,755)
(5,282)
Essendon Carpet Co. Ltd
(11,211)
(51,415)
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
73,386
56,401
Director's current account
124,113
146,225
Other debtors
35,255
32,129
232,754
234,755
6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
205,993
203,330
Corporation tax
22,235
17,039
Other creditors
600
900
228,828
221,269
7
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
8
Directors' transactions
Dividends totalling £38,000 (2022 - £50,000) were paid in the year in respect of shares held by the company's director.
The director's current account was overdrawn during the year and interest totalling £3,176 (2022: £3,226) was charged on the overdrawn balance at HMRC's official rate of interest. The movement on these loans are as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Director's current account
2.16
146,225
22,976
3,176
(48,264)
124,113
DALEY & SON (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
9
Controlling party
The company was controlled throughout the current and previous year by the director, by virtue of the fact that she owns the entire issued share capital of the company.