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Registered number: 04481269
Damen Associates Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Fry Associates
Chartered Accountants
The Quillets, 4 Netherhampton Road
Harnham
Salisbury
Wiltshire
SP2 8HE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04481269
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,148 3,935
3,148 3,935
CURRENT ASSETS
Stocks 5 3,280 4,280
Debtors 6 720 720
Cash at bank and in hand 78,799 88,464
82,799 93,464
Creditors: Amounts Falling Due Within One Year 7 (85,946 ) (97,398 )
NET CURRENT ASSETS (LIABILITIES) (3,147 ) (3,934 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1 1
NET ASSETS 1 1
CAPITAL AND RESERVES
Called up share capital 8 1 1
SHAREHOLDERS' FUNDS 1 1
Page 1
Page 2
For the year ending 31 July 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 Colin Burrows
Director
10/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Damen Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04481269 . The registered office is The Quillets, 4 Netherhampton Road, Harnham, Salisbury, Wiltshire, SP2 8HE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 20% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% reducing balance
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.
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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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:
2024 2023
Office and administration 2 2
2 2
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Page 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 7,614 16,320 4,733 28,667
As at 31 July 2024 7,614 16,320 4,733 28,667
Depreciation
As at 1 August 2023 6,814 13,682 4,236 24,732
Provided during the period 160 528 99 787
As at 31 July 2024 6,974 14,210 4,335 25,519
Net Book Value
As at 31 July 2024 640 2,110 398 3,148
As at 1 August 2023 800 2,638 497 3,935
5. Stocks
2024 2023
£ £
Work in progress 3,280 4,280
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 720 720
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) -
Corporation tax 1,731 1,105
Accruals and deferred income 848 848
Director's loan account 83,368 95,445
85,946 97,398
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 6,591 3,739
Page 4