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Registration number: NI645455

Round House DPK Ltd

Filleted Financial Statements

for the Year Ended 31 May 2024

 

Round House DPK Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Round House DPK Ltd

Company Information

Directors

John Collins

Peter Collins

Donna Collins

Bernadette Collins

Registered office

28 Stream Street
Downpatrick
Down
BT30 6DE

 

Round House DPK Ltd

(Registration number: NI645455)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

130,000

40,000

Tangible assets

5

6,785

1,182

 

136,785

41,182

Current assets

 

Stocks

6

23,810

28,195

Cash at bank and in hand

 

172,275

146,136

 

196,085

174,331

Creditors: Amounts falling due within one year

7

(149,005)

(64,476)

Net current assets

 

47,080

109,855

Net assets

 

183,865

151,037

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

183,765

150,937

Shareholders' funds

 

183,865

151,037

For the financial year ending 31 May 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.

 

Round House DPK Ltd

(Registration number: NI645455)
Balance Sheet as at 31 May 2024

Approved and authorised by the Board on 29 October 2024 and signed on its behalf by:
 

.........................................
John Collins
Director

 

Round House DPK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
28 Stream Street
Downpatrick
Down
BT30 6DE
Northern Ireland

These financial statements were authorised for issue by the Board on 29 October 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Round House DPK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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.

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

Fixtures & Fittings

15% Reducing Balance method

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Round House DPK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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.

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.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 5).

 

Round House DPK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Intangible assets

Goodwill
 £

Liquor Licence

Total
£

Cost or valuation

At 1 June 2023

40,000

-

40,000

Additions

-

90,000

90,000

At 31 May 2024

40,000

90,000

130,000

Amortisation

Carrying amount

At 31 May 2024

40,000

90,000

130,000

At 31 May 2023

40,000

-

40,000

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

3,500

3,500

Additions

6,800

6,800

At 31 May 2024

10,300

10,300

Depreciation

At 1 June 2023

2,318

2,318

Charge for the year

1,197

1,197

At 31 May 2024

3,515

3,515

Carrying amount

At 31 May 2024

6,785

6,785

At 31 May 2023

1,182

1,182

6

Stocks

2024
£

2023
£

Other inventories

23,810

28,195

 

Round House DPK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

95,301

9,435

Trade creditors

 

39,532

40,608

Taxation and social security

 

13,172

13,433

Accruals and deferred income

 

1,000

1,000

 

149,005

64,476

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

95,301

9,435

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share Capital of £1 each

100

100

100

100