Company Registration No. 06391134 (England and Wales)
DF Audio Ltd
Unaudited accounts
for the year ended 31 March 2024
DF Audio Ltd
Unaudited accounts
Contents
DF Audio Ltd
Company Information
for the year ended 31 March 2024
Company Number
06391134 (England and Wales)
Registered Office
15 Kings Close
Lancing
BN15 8DB
DF Audio Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
64,900
35,065
Cash at bank and in hand
609
611
Creditors: amounts falling due within one year
(89,481)
(42,106)
Net current liabilities
(64,655)
(12,535)
Total assets less current liabilities
245
22,530
Creditors: amounts falling due after more than one year
(40,087)
(19,758)
Provisions for liabilities
Deferred tax
(2,287)
(2,287)
Net (liabilities)/assets
(42,129)
485
Called up share capital
10
10
Profit and loss account
(42,139)
475
Shareholders' funds
(42,129)
485
For the year ending 31 March 2024 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 30 November 2024 and were signed on its behalf by
D C Foster
Director
Company Registration No. 06391134
DF Audio Ltd
Notes to the Accounts
for the year ended 31 March 2024
DF Audio Ltd is a private company, limited by shares, registered in England and Wales, registration number 06391134. The registered office is 15 Kings Close, Lancing, BN15 8DB.
These financial statements comply with Financial Reporting Standard 102 Section 1A.
Going concern justification
The financial statements have been prepared on the going concern basis, which assumes that the company continues to trade and to meet its liabilities as they fall due. The company continues to develop its service and customer base which requires continued support from the director.
Revenue, described as turnover, is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.
Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value, of each asset evenly over its expected useful life, as follows:
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined on a first in, first out basis. Net realisable value is based on estimated selling price, less any further costs of realisation.
Deferred tax has been provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes except that a deferred tax asset is only recognised to the extent that it is recoverable. Deferred tax is measured using the tax rate that is expected to apply in the periods in which the timing differences are expected to reverse.
DF Audio Ltd
Notes to the Accounts
for the year ended 31 March 2024
3
Tangible fixed assets
Plant & machinery
Charge for the year
13,649
Amounts falling due within one year
Accrued income and prepayments
426
-
Other debtors
16,267
28,274
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
57,520
18,053
Obligations under finance leases and hire purchase contracts
11,112
2,532
Trade creditors
14,226
7,069
Taxes and social security
4,930
11,222
Other creditors
1,693
2,285
Loans from directors
-
945
6
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
40,087
19,758
7
Transactions with related parties
The following transactions with directors and shareholders have not been conducted under normal market conditions:
A director loan of £4,683 will be repaid as soon as possible and isn't subject to interest (2023: £23,500).
DF Audio Ltd
Notes to the Accounts
for the year ended 31 March 2024
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).