D & I Limited 02985750 false 2023-04-06 2024-04-05 2024-04-05 The principal activity of the company is property letting and the provision of cleaning services. Digita Accounts Production Advanced 6.30.9574.0 true 02985750 2023-04-06 2024-04-05 02985750 2024-04-05 02985750 core:CurrentFinancialInstruments 2024-04-05 02985750 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-05 02985750 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-05 02985750 core:FurnitureFittingsToolsEquipment 2024-04-05 02985750 core:MotorVehicles 2024-04-05 02985750 core:OtherPropertyPlantEquipment 2024-04-05 02985750 bus:SmallEntities 2023-04-06 2024-04-05 02985750 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 02985750 bus:FilletedAccounts 2023-04-06 2024-04-05 02985750 bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 02985750 bus:RegisteredOffice 2023-04-06 2024-04-05 02985750 bus:CompanySecretaryDirector1 2023-04-06 2024-04-05 02985750 bus:Director2 2023-04-06 2024-04-05 02985750 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 02985750 core:FurnitureFittingsToolsEquipment 2023-04-06 2024-04-05 02985750 core:MotorVehicles 2023-04-06 2024-04-05 02985750 core:OtherPropertyPlantEquipment 2023-04-06 2024-04-05 02985750 core:PlantMachinery 2023-04-06 2024-04-05 02985750 core:KeyManagementPersonnel 2023-04-06 2024-04-05 02985750 countries:EnglandWales 2023-04-06 2024-04-05 02985750 2023-04-05 02985750 core:FurnitureFittingsToolsEquipment 2023-04-05 02985750 core:MotorVehicles 2023-04-05 02985750 core:OtherPropertyPlantEquipment 2023-04-05 02985750 2022-04-06 2023-04-05 02985750 2023-04-05 02985750 core:CurrentFinancialInstruments 2023-04-05 02985750 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-05 02985750 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-05 02985750 core:FurnitureFittingsToolsEquipment 2023-04-05 02985750 core:MotorVehicles 2023-04-05 02985750 core:OtherPropertyPlantEquipment 2023-04-05 02985750 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-05 02985750 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-04-06 2023-04-05 02985750 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-04-05 iso4217:GBP xbrli:pure

Registration number: 02985750

D & I Limited

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2024

Pages for filing with Registrar

 

D & I Limited

Contents


 

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

D & I Limited

Company Information


 

Directors

Mrs J McWilliam

Mr P McWilliam

Company secretary

Mrs J McWilliam

Registered office

25 Devonshire Road
Fulwood
Preston
Lancashire
PR2 8BU

 

D & I Limited

(Registration number: 02985750)
Balance Sheet as at 5 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

68,774

36,862

Investment property

5

4,275,000

4,145,000

 

4,343,774

4,181,862

Current assets

 

Stocks

22,000

13,396

Debtors

6

12,252

11,616

Cash at bank and in hand

 

121,929

58,114

 

156,181

83,126

Creditors: Amounts falling due within one year

7

(116,075)

(101,236)

Net current assets/(liabilities)

 

40,106

(18,110)

Total assets less current liabilities

 

4,383,880

4,163,752

Creditors: Amounts falling due after more than one year

7

(25,159)

(473,512)

Provisions for liabilities

(343,661)

(236,119)

Net assets

 

4,015,060

3,454,121

Capital and reserves

 

Called up share capital

100

100

Retained earnings

4,014,960

3,454,021

Shareholders' funds

 

4,015,060

3,454,121

 

D & I Limited

(Registration number: 02985750)
Balance Sheet as at 5 April 2024 (continued)

For the financial year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 November 2024 and signed on its behalf by:
 

.........................................
Mrs J McWilliam
Company secretary and director

 

D & I Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
25 Devonshire Road
Fulwood
Preston
Lancashire
PR2 8BU

These financial statements were authorised for issue by the Board on 25 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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 £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

D & I Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance

Fixtures and fittings

20% Reducing balance

Motor vehicles

25% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate reviewed annually. If an independent valuation is not available the directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

D & I Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

D & I Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

D & I Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company’s statement of financial position 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 liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 9).

 

D & I Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

4

Tangible assets

Fixtures and fittings
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 6 April 2023

175,385

98,653

65,192

339,230

Additions

-

67,990

-

67,990

Disposals

(24,000)

(39,490)

-

(63,490)

At 5 April 2024

151,385

127,153

65,192

343,730

Depreciation

At 6 April 2023

164,686

74,946

62,736

302,368

Charge for the year

2,143

17,355

614

20,112

Eliminated on disposal

(24,000)

(23,524)

-

(47,524)

At 5 April 2024

142,829

68,777

63,350

274,956

Carrying amount

At 5 April 2024

8,556

58,376

1,842

68,774

At 5 April 2023

10,699

23,707

2,456

36,862

5

Investment properties

2024
£

At 6 April

4,145,000

Disposals

(500,000)

Fair value adjustments

630,000

At 5 April

4,275,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

9,798

11,064

Prepayments

2,454

552

 

12,252

11,616

 

D & I Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

7

Creditors

2024
£

2023
£

Due within one year

Finance lease liabilities

11,546

-

Trade creditors

12,195

2,370

Other taxation and social security

31,024

38,609

Other creditors

21,826

13,441

Accruals and deferred income

39,484

46,816

116,075

101,236

Due after one year

Loans and borrowings

25,159

473,512

8

Related party transactions

Loans to related parties

 

Key management

2023
£

At start of period

49,269

Repaid

(49,544)

Interest transactions

275

At end of period

-

Terms of loans to related parties

Loans owed by key management are repayable on demand.
 

9 Company reserves

Within profit and loss reserve account totalling £4,014,960, there are amounts that are distributable and non-distributable to shareholders.

Amounts totalling £2,073,943 (2023: £1,770,814) are distributable and amounts totalling £1,941,017 (2023: £1,683,207) are non-distributable.