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REGISTERED NUMBER: 02687953 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

DEALPRAISE LIMITED

DEALPRAISE LIMITED (REGISTERED NUMBER: 02687953)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 29 February 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


DEALPRAISE LIMITED

COMPANY INFORMATION
for the year ended 29 February 2024







DIRECTORS: Mr W A Bailey
Mr W A Bailey





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 02687953 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

DEALPRAISE LIMITED (REGISTERED NUMBER: 02687953)

ABRIDGED BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 253,408 278,933

CURRENT ASSETS
Stocks 7,220 7,220
Debtors 398,421 390,225
Cash at bank and in hand 26,095 31,006
431,736 428,451
CREDITORS
Amounts falling due within one year 234,790 156,643
NET CURRENT ASSETS 196,946 271,808
TOTAL ASSETS LESS CURRENT
LIABILITIES

450,354

550,741

CREDITORS
Amounts falling due after more than one year (97,925 ) (91,914 )

PROVISIONS FOR LIABILITIES (65,170 ) (52,997 )
NET ASSETS 287,259 405,830

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 286,259 404,830
SHAREHOLDERS' FUNDS 287,259 405,830

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

DEALPRAISE LIMITED (REGISTERED NUMBER: 02687953)

ABRIDGED BALANCE SHEET - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:





Mr W A Bailey - Director


DEALPRAISE LIMITED (REGISTERED NUMBER: 02687953)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Dealpraise 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the directors.

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 is recognised as the takings from amusement arcades net of VAT, where applicable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 3% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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 Income Statement, 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.


DEALPRAISE LIMITED (REGISTERED NUMBER: 02687953)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

DEALPRAISE LIMITED (REGISTERED NUMBER: 02687953)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 699,596
Additions 100,718
Disposals (88,814 )
At 29 February 2024 711,500
DEPRECIATION
At 1 March 2023 420,663
Charge for year 75,981
Eliminated on disposal (38,552 )
At 29 February 2024 458,092
NET BOOK VALUE
At 29 February 2024 253,408
At 28 February 2023 278,933

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 March 2023 53,710
Additions 44,743
Disposals (36,000 )
At 29 February 2024 62,453
DEPRECIATION
At 1 March 2023 33,780
Charge for year 12,491
Eliminated on disposal (23,154 )
At 29 February 2024 23,117
NET BOOK VALUE
At 29 February 2024 39,336
At 28 February 2023 19,930

DEALPRAISE LIMITED (REGISTERED NUMBER: 02687953)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 90,515 98,086
Hire purchase contracts 32,972 14,321
123,487 112,407

The Bank loans are secured by a fixed and floating charge over the undertaking and all property and assets present and future.

Hire purchase contracts are secured over the asset to which they relate.

6. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £15,666 (2023: £21,666) to Gaiety (Clacton) Limited, a company related by virtue of common directors.

At the balance sheet date the company was owed £383,714 (2023: £383,714) by Casera Limited, a company related by virtue of common directors.

Included in other creditors is a loan of £32,000 (2023: £10,000) from Mr F R Bailey, the father of one of the directors.

At the balance sheet date, the company owed the directors £47,918 (2023: £22,089).