Company registration number 11408972 (England and Wales)
DARKMASTER LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
DARKMASTER LTD
CONTENTS
Page
Directors' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
DARKMASTER LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

The directors present their annual report and financial statements for the year ended 30 June 2024.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Ms E K Buckler
Ms J E Smith
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Ms J E Smith
Director
4 October 2024
DARKMASTER LTD
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
896
1,646
Tangible assets
5
461,529
730,268
462,425
731,914
Current assets
Debtors
6
3,325
-
0
Cash at bank and in hand
21,214
6,697
24,539
6,697
Creditors: amounts falling due within one year
7
(10,883)
(9,083)
Net current assets/(liabilities)
13,656
(2,386)
Total assets less current liabilities
476,081
729,528
Creditors: amounts falling due after more than one year
8
(1,613,207)
(1,609,583)
Net liabilities
(1,137,126)
(880,055)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(1,137,128)
(880,057)
Total equity
(1,137,126)
(880,055)
DARKMASTER LTD
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 3 -

For the financial year ended 30 June 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 4 October 2024 and are signed on its behalf by:
Ms J E Smith
Director
Company registration number 11408972 (England and Wales)
DARKMASTER LTD
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 4 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Darkmaster Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5, Plumyfeather Farm, Lye Green, Crowborough, East Sussex, England, TN6 1UX.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

2.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

2.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Intangibles
20%
DARKMASTER LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2
Accounting policies
(Continued)
- 5 -
2.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20%
Plant and equipment
20%
Computers
25%

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
3
DARKMASTER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
4
Intangible fixed assets
Intangibles
£
Cost
At 1 July 2023 and 30 June 2024
3,750
Amortisation and impairment
At 1 July 2023
2,104
Amortisation charged for the year
750
At 30 June 2024
2,854
Carrying amount
At 30 June 2024
896
At 30 June 2023
1,646
5
Tangible fixed assets
Leasehold improvements
Plant and equipment
Computers
Total
£
£
£
£
Cost
At 1 July 2023
111,066
1,311,791
918
1,423,775
Additions
-
0
18,250
-
0
18,250
At 30 June 2024
111,066
1,330,041
918
1,442,025
Depreciation and impairment
At 1 July 2023
80,031
612,788
688
693,507
Depreciation charged in the year
22,213
264,547
229
286,989
At 30 June 2024
102,244
877,335
917
980,496
Carrying amount
At 30 June 2024
8,822
452,706
1
461,529
At 30 June 2023
31,035
699,003
230
730,268
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,704
-
0
Other debtors
1,621
-
0
3,325
-
0
DARKMASTER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,074
1,200
Taxation and social security
1,686
2,460
Other creditors
7,123
5,423
10,883
9,083
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,613,207
1,609,583
9
Operating lease commitments
Lessee
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