Company Registration No. 08292969 (England and Wales)
Direct Traders Ltd
Unaudited accounts
for the year ended 30 November 2023
Direct Traders Ltd
Unaudited accounts
Contents
Direct Traders Ltd
Company Information
for the year ended 30 November 2023
Director
Nadeem Guffoor Iqbal
Company Number
08292969 (England and Wales)
Registered Office
Clapgate Industrial Estate
Units 1-5 Clapgate
Stondon Massey
Brentwood
CM15 0LH
Accountants
SM Accountants Ltd
Cobalt Square - Suite 4G
83-85 Hagley Road
Birmingham
B16 8QG
Direct Traders Ltd
Statement of financial position
as at 30 November 2023
Tangible assets
940,838
953,763
Cash at bank and in hand
1,083,961
522,298
Creditors: amounts falling due within one year
(656,533)
(1,137,209)
Net current assets
1,320,233
948,788
Total assets less current liabilities
2,261,071
1,902,551
Creditors: amounts falling due after more than one year
(26,000)
(35,000)
Net assets
2,235,071
1,867,551
Called up share capital
1
1
Profit and loss account
2,235,070
1,867,550
Shareholders' funds
2,235,071
1,867,551
For the year ending 30 November 2023 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 November 2024 and were signed on its behalf by
Nadeem Guffoor Iqbal
Director
Company Registration No. 08292969
Direct Traders Ltd
Notes to the Accounts
for the year ended 30 November 2023
Direct Traders Ltd is a private company, limited by shares, registered in England and Wales, registration number 08292969. The registered office is Clapgate Industrial Estate, Units 1-5 Clapgate, Stondon Massey, Brentwood, CM15 0LH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Straight Line
Computer equipment
25% Straight Line
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 December 2022
779,745
9,476
249,157
2,094
1,040,472
Additions
-
-
46,788
-
46,788
At 30 November 2023
779,745
9,476
295,945
2,094
1,087,260
At 1 December 2022
-
9,476
76,709
524
86,709
Charge for the year
-
-
59,189
524
59,713
At 30 November 2023
-
9,476
135,898
1,048
146,422
At 30 November 2023
779,745
-
160,047
1,046
940,838
At 30 November 2022
779,745
-
172,448
1,570
953,763
Direct Traders Ltd
Notes to the Accounts
for the year ended 30 November 2023
Amounts falling due within one year
Trade debtors
319,766
714,408
Other debtors
465,085
775,000
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
142,319
484,604
Taxes and social security
514,214
400,165
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 10 (2022: 16).