Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 10674123 Mr Derek Lovatt Mr Trevor Suban Miss Yolanda Small iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10674123 2023-03-31 10674123 2024-03-31 10674123 2023-04-01 2024-03-31 10674123 frs-core:CurrentFinancialInstruments 2024-03-31 10674123 frs-core:Non-currentFinancialInstruments 2024-03-31 10674123 frs-core:PlantMachinery 2024-03-31 10674123 frs-core:PlantMachinery 2023-04-01 2024-03-31 10674123 frs-core:PlantMachinery 2023-03-31 10674123 frs-core:ShareCapital 2024-03-31 10674123 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10674123 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10674123 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10674123 frs-bus:SmallEntities 2023-04-01 2024-03-31 10674123 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10674123 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10674123 frs-bus:Director1 2023-04-01 2024-03-31 10674123 frs-bus:Director2 2023-04-01 2024-03-31 10674123 frs-bus:Director3 2023-04-01 2024-03-31 10674123 frs-countries:EnglandWales 2023-04-01 2024-03-31 10674123 2022-03-31 10674123 2023-03-31 10674123 2022-04-01 2023-03-31 10674123 frs-core:CurrentFinancialInstruments 2023-03-31 10674123 frs-core:Non-currentFinancialInstruments 2023-03-31 10674123 frs-core:ShareCapital 2023-03-31 10674123 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 10674123
Direct Land Investments Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10674123
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 23 43
23 43
CURRENT ASSETS
Stocks 5 675,360 594,414
Debtors 6 38,426 38,426
Cash at bank and in hand 82,449 138,944
796,235 771,784
Creditors: Amounts Falling Due Within One Year 7 (474,643 ) (561,617 )
NET CURRENT ASSETS (LIABILITIES) 321,592 210,167
TOTAL ASSETS LESS CURRENT LIABILITIES 321,615 210,210
Creditors: Amounts Falling Due After More Than One Year 8 (10,151 ) (22,707 )
PROVISIONS FOR LIABILITIES
Provisions For Charges 991 991
NET ASSETS 312,455 188,494
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 312,355 188,394
SHAREHOLDERS' FUNDS 312,455 188,494
Page 1
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For the year ending 31 March 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 Derek Lovatt
Director
25 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Direct Land Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10674123 . The registered office is 550 Valley Rd, Basford, Nottingham, NG5 1JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 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. 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 20% Reducing Balance
2.4. 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.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
0Average number of employees, including directors, during the year was: NIL (2023: NIL)
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 293
As at 31 March 2024 293
Depreciation
As at 1 April 2023 250
Provided during the period 20
As at 31 March 2024 270
Net Book Value
As at 31 March 2024 23
As at 1 April 2023 43
5. Stocks
2024 2023
£ £
Work in progress 675,360 594,414
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 10,034 10,034
Amounts owed by group undertakings 28,392 28,392
38,426 38,426
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 12,556 9,876
Corporation tax 16,889 -
VAT 72,876 67,914
Other creditors 188,256 288,300
Directors' loan accounts 184,066 195,527
474,643 561,617
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,151 22,707
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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