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REGISTERED NUMBER: 03144443 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

DIRECT ADHESIVES LIMITED

DIRECT ADHESIVES LIMITED (REGISTERED NUMBER: 03144443)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company information 1

Chartered accountants' report 2

Balance sheet 3

Notes to the financial statements 5


DIRECT ADHESIVES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S J Walker
Mrs A S Walker
R M Phillips





SECRETARY: Mrs A S Walker





REGISTERED OFFICE: Unit 11
Chartmoor Road
Leighton Buzzard
Bedfordshire
LU7 4WG





REGISTERED NUMBER: 03144443 (England and Wales)





ACCOUNTANTS: Johnsons, Chartered Accountants
1-2 Craven Road
Ealing
London
W5 2UA

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DIRECT ADHESIVES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Direct Adhesives Limited for the year ended 31 March 2024 which comprise the Statement of income and retained earnings, Balance sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Direct Adhesives Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Direct Adhesives Limited and state those matters that we have agreed to state to the Board of Directors of Direct Adhesives Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Direct Adhesives Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Direct Adhesives Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Direct Adhesives Limited. You consider that Direct Adhesives Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Direct Adhesives Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Johnsons, Chartered Accountants
1-2 Craven Road
Ealing
London
W5 2UA


31 October 2024

DIRECT ADHESIVES LIMITED (REGISTERED NUMBER: 03144443)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 28,392 21,177
Tangible assets 5 201,980 230,310
230,372 251,487

CURRENT ASSETS
Stocks 1,330,683 1,406,109
Debtors 6 1,796,874 1,983,864
Cash at bank and in hand 457,153 346,132
3,584,710 3,736,105
CREDITORS
Amounts falling due within one year 7 (1,855,915 ) (2,070,357 )
NET CURRENT ASSETS 1,728,795 1,665,748
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,959,167

1,917,235

CREDITORS
Amounts falling due after more than one
year

8

(94,870

)

(141,870

)

PROVISIONS FOR LIABILITIES (34,880 ) (34,712 )
NET ASSETS 1,829,417 1,740,653

CAPITAL AND RESERVES
Called up share capital 98 98
Capital redemption reserve 2 2
Retained earnings 1,829,317 1,740,553
SHAREHOLDERS' FUNDS 1,829,417 1,740,653

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

DIRECT ADHESIVES LIMITED (REGISTERED NUMBER: 03144443)

BALANCE SHEET - continued
31 MARCH 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





S J Walker - Director


DIRECT ADHESIVES LIMITED (REGISTERED NUMBER: 03144443)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Direct Adhesives 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.

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

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.

Computer software is being amortised evenly over its estimated useful life of five years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and Machinery - reducing balance 20%
Fixtures and Fittings - reducing balance 20%
Motor Vehicles - reducing balance 25%

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 Statement of Income and Retained Earnings, 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.

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.

DIRECT ADHESIVES LIMITED (REGISTERED NUMBER: 03144443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023 21,177
Additions 7,215
At 31 March 2024 28,392
NET BOOK VALUE
At 31 March 2024 28,392
At 31 March 2023 21,177

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 756,733
Additions 33,669
Disposals (77,957 )
At 31 March 2024 712,445
DEPRECIATION
At 1 April 2023 526,423
Charge for year 48,480
Eliminated on disposal (64,438 )
At 31 March 2024 510,465
NET BOOK VALUE
At 31 March 2024 201,980
At 31 March 2023 230,310

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,673,030 1,825,536
Other debtors 123,844 158,328
1,796,874 1,983,864

DIRECT ADHESIVES LIMITED (REGISTERED NUMBER: 03144443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 48,000 48,000
Trade creditors 1,576,077 1,831,960
Taxation and social security 115,562 120,269
Other creditors 116,276 70,128
1,855,915 2,070,357

Included in other creditors are 100 preference shares with a value of £100. These preference shares are redeemable at any time at the option of the company, with a redemption price of £1 per share.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 56,000 104,000
Other creditors 38,870 37,870
94,870 141,870