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Registered number: 10698857









DAK (SOUTHERN) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
DAK (SOUTHERN) LIMITED
REGISTERED NUMBER: 10698857

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
645,027
694,450

  
645,027
694,450

Current assets
  

Debtors: amounts falling due within one year
 5 
350,307
-

Cash at bank and in hand
 6 
8,510
14,165

  
358,817
14,165

Creditors: amounts falling due within one year
 7 
(354,744)
(331,275)

Net current assets/(liabilities)
  
 
 
4,073
 
 
(317,110)

Total assets less current liabilities
  
649,100
377,340

Creditors: amounts falling due after more than one year
 8 
(175,414)
(184,462)

  

Net assets
  
473,686
192,878


Capital and reserves
  

Called up share capital 
  
140
140

Profit and loss account
  
473,546
192,738

  
473,686
192,878

Page 1

 
DAK (SOUTHERN) LIMITED
REGISTERED NUMBER: 10698857
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 November 2024.




................................................
Darren Lawrence
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company limited by shares, incorporated in England. The principal activity of the Company was the hire of survey equipment and rental income.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
10%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The Company has no employees other than the director, who did not receive any remuneration (2023 - £NIL).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 April 2023
285,711
502,459
788,170


Additions
-
42,000
42,000


Disposals
-
(63,496)
(63,496)



At 31 March 2024

285,711
480,963
766,674



Depreciation


At 1 April 2023
-
93,720
93,720


Charge for the year on owned assets
-
39,921
39,921


Disposals
-
(11,994)
(11,994)



At 31 March 2024

-
121,647
121,647



Net book value



At 31 March 2024
285,711
359,316
645,027



At 31 March 2023
285,711
408,739
694,450

Page 5

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Amounts owed by connected company
350,307
-

350,307
-



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,510
14,165

8,510
14,165


Page 6

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
14,000
14,000

Amounts owed to connected company
-
54,683

Corporation tax
80,483
-

Other taxation and social security
8,366
47

Obligations under finance lease and hire purchase contracts
-
10,770

Other creditors
250,000
250,000

Accruals and deferred income
1,895
1,775

354,744
331,275


The following liabilities were secured:

2024
2023
£
£



Obligations under finance lease and hire purchase contracts
-
10,770

Bank loans
14,000
14,000

14,000
24,770

Details of security provided:

The hire purchase contract is secured over the asset concerned. The bank loan is secured over the property.

Page 7

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
175,414
184,462

175,414
184,462


The following liabilities were secured:

2024
2023
£
£



Bank loan
175,414
184,462

175,414
184,462

Details of security provided:

The hire purchase contract is secured over the asset concerned. The bank loan is secured over the property.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
14,000
14,000

Amounts falling due 1-2 years

Bank loans
14,000
14,000

Amounts falling due 2-5 years

Bank loans
161,414
170,462


189,414
198,462



10.


Related party transactions

During the year the Company made sales to One + Point Limited, a company in which the director, Darren Lawrence, is also a director and shareholder, amounting to £472,874 (2023 - £189,035) and purchases amounting to £42,000 (2023 - £218,000). At the year end a balance of £350,307 (2023 - £54,683 owed to) was owed from One + Point Limited.

Page 8

 
DAK (SOUTHERN) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Controlling party

The Company was controlled by the director, Darren Lawrence, by virtue of his shareholding as detailed in the director's report.

 
Page 9