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COMPANY REGISTRATION NUMBER: 03857781
Desk Write Limited
Filleted Unaudited Financial Statements
31 October 2024
Desk Write Limited
Officers and Professional Advisers
Director
N Eastwood
Company secretary
N Eastwood
Registered office
Unit 12 Planetary Business Centre
Planetary Road
Wolverhampton
West Midlands
United Kingdom
WV13 3SW
Accountants
BSN Associates Limited
Chartered accountants
3B Swallowfield Courtyard
Wolverhampton Road
Oldbury
West Midlands
B69 2JG
Desk Write Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Desk Write Limited
Year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Desk Write Limited for the year ended 31 October 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Desk Write Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Desk Write Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Desk Write Limited and its director for our work or for this report.
It is your duty to ensure that Desk Write Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Desk Write Limited. You consider that Desk Write Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Desk Write Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
BSN Associates Limited Chartered accountants
3B Swallowfield Courtyard Wolverhampton Road Oldbury West Midlands B69 2JG
28 November 2024
Desk Write Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,861
2,296
Current assets
Stocks
2,134
5,086
Debtors
6
24,889
27,534
Cash at bank and in hand
12,424
20,934
--------
--------
39,447
53,554
Creditors: amounts falling due within one year
7
34,884
34,206
--------
--------
Net current assets
4,563
19,348
-------
--------
Total assets less current liabilities
6,424
21,644
Creditors: amounts falling due after more than one year
8
5,833
15,833
Provisions
Taxation including deferred tax
354
436
-------
--------
Net assets
237
5,375
-------
--------
Desk Write Limited
Statement of Financial Position (continued)
31 October 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
137
5,275
----
-------
Shareholders funds
237
5,375
----
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
N Eastwood
Director
Company registration number: 03857781
Desk Write Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 12 Planetary Business Centre, Planetary Road, Wolverhampton, West Midlands, WV13 3SW, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a small entity as defined in FRS102 and section 382 of the Companies Act 2006 and has taken advantage of the disclosure exemptions available under FRS102.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. A sale is recognised at the point risk in title passes to the customer. This is usually on delivery of goods to the customer.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 November 2023
689
10,450
15,916
27,055
Disposals
( 689)
( 383)
( 1,072)
----
--------
--------
--------
At 31 October 2024
10,450
15,533
25,983
----
--------
--------
--------
Depreciation
At 1 November 2023
617
10,125
14,017
24,759
Charge for the year
81
158
239
Disposals
( 617)
( 259)
( 876)
----
--------
--------
--------
At 31 October 2024
10,206
13,916
24,122
----
--------
--------
--------
Carrying amount
At 31 October 2024
244
1,617
1,861
----
--------
--------
--------
At 31 October 2023
72
325
1,899
2,296
----
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
22,753
26,130
Prepayments and accrued income
2,136
916
Other debtors
488
--------
--------
24,889
27,534
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
14,750
10,000
Trade creditors
11,075
8,608
Accruals and deferred income
1,875
1,800
Corporation tax
2,843
6,968
Social security and other taxes
4,128
6,424
Director loan accounts
213
299
Other creditors
107
--------
--------
34,884
34,206
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,833
15,833
-------
--------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----