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Registered number: 05191166
Dy-Tech Ltd
Financial Statements
For The Year Ended 31 March 2024
Dymond Ashworth
Chartered Certified Accountants
First Floor 98-100
Gisburn Road
Barrowford
Lancashire
BB9 6EW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05191166
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 101,280 93,855
101,280 93,855
CURRENT ASSETS
Stocks 5 160,000 260,000
Debtors 6 138,102 402,761
Cash at bank and in hand 123,586 129,428
421,688 792,189
Creditors: Amounts Falling Due Within One Year 7 (159,360 ) (524,905 )
NET CURRENT ASSETS (LIABILITIES) 262,328 267,284
TOTAL ASSETS LESS CURRENT LIABILITIES 363,608 361,139
Creditors: Amounts Falling Due After More Than One Year 8 (11,667 ) (31,667 )
NET ASSETS 351,941 329,472
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 351,841 329,372
SHAREHOLDERS' FUNDS 351,941 329,472
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Page 2
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 member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A S Dymond
Director
27/12/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dy-Tech Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05191166 . The registered office is 1st Floor, 98-100 Gisburn Road, Barrowford, Lancashire, BB9 6EW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 15% on reducing balkance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 13)
14 13
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 304,272 45,099 56,072 11,970 417,413
Additions - 3,000 22,964 - 25,964
As at 31 March 2024 304,272 48,099 79,036 11,970 443,377
Depreciation
As at 1 April 2023 255,906 30,562 33,559 3,531 323,558
Provided during the period 7,255 4,009 6,009 1,266 18,539
As at 31 March 2024 263,161 34,571 39,568 4,797 342,097
Net Book Value
As at 31 March 2024 41,111 13,528 39,468 7,173 101,280
As at 1 April 2023 48,366 14,537 22,513 8,439 93,855
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5. Stocks
2024 2023
£ £
Stock and work in progress 160,000 260,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 40,817 327,446
Prepayments and accrued income 41,161 36,446
Rent deposit 18,869 18,869
Sundry debtors 20,000 20,000
VAT 17,255 -
138,102 402,761
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 107,890 472,206
Bank loans and overdrafts 10,000 3,460
Corporation tax 16,114 14,881
Other taxes and social security 25,356 12,255
VAT - 22,103
159,360 524,905
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,667 31,667
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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