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
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
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
DISCOVERY GROUP LTD
Statement of financial position
as at 31 October 2023
Tangible assets
265,000
265,000
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)
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
DISCOVERY GROUP LTD
Notes to the Accounts
for the year ended 31 October 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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 in shares are included at fair value.
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.
Buying and selling of own real estate also Other letting and operating of own or leased real estate
DISCOVERY GROUP LTD
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Land & buildings
At 1 November 2022
265,000
At 31 October 2023
265,000
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
-
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).