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COMPANY REGISTRATION NUMBER: 02590676
Dark Horse Agency Limited
Filleted Unaudited Financial Statements
30 April 2024
Dark Horse Agency Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Dark Horse Agency Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
45,647
32,666
Current assets
Stocks
177,275
210,294
Debtors
6
489,999
359,067
Investments
7
236,250
244,350
Cash at bank and in hand
710,495
624,583
------------
------------
1,614,019
1,438,294
Creditors: amounts falling due within one year
8
333,765
295,835
------------
------------
Net current assets
1,280,254
1,142,459
------------
------------
Total assets less current liabilities
1,325,901
1,175,125
------------
------------
Net assets
1,325,901
1,175,125
------------
------------
Dark Horse Agency Limited
Statement of Financial Position (continued)
30 April 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
24,000
24,000
Share premium account
41,700
41,700
Profit and loss account
1,260,201
1,109,425
------------
------------
Shareholders funds
1,325,901
1,175,125
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
Mr D N Corran
Director
Company registration number: 02590676
Dark Horse Agency Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 11-13 The Steadings, Maisemore, Gloucester, GL2 8EY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Equipment
-
25% straight line and reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2023: 15 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 May 2023
40,528
58,284
98,812
Additions
36,264
36,264
Disposals
( 16,312)
( 16,312)
--------
--------
---------
At 30 April 2024
40,528
78,236
118,764
--------
--------
---------
Depreciation
At 1 May 2023
31,154
34,992
66,146
Charge for the year
2,343
20,940
23,283
Disposals
( 16,312)
( 16,312)
--------
--------
---------
At 30 April 2024
33,497
39,620
73,117
--------
--------
---------
Carrying amount
At 30 April 2024
7,031
38,616
45,647
--------
--------
---------
At 30 April 2023
9,374
23,292
32,666
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
429,435
308,143
Other debtors
60,564
50,924
---------
---------
489,999
359,067
---------
---------
7. Investments
2024
2023
£
£
Armstrong
236,250
244,350
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
94,699
50,192
Corporation tax
96,239
73,009
Social security and other taxes
34,140
20,973
Other creditors
108,687
151,661
---------
---------
333,765
295,835
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr D N Corran
5,209
( 805)
4,404
Mr T D Mardling
10,000
10,000
Mrs S Ryan
10,000
10,000
--------
----
--------
25,209
( 805)
24,404
--------
----
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr D N Corran
5,881
( 672)
5,209
Mr T D Mardling
10,000
10,000
Mrs S Ryan
10,000
10,000
--------
----
--------
25,881
( 672)
25,209
--------
----
--------
No interest has been charged on the advances to the directors.
10. Controlling party
The ultimate parent company is Dark Horse Holdings Limited, a company registered in England and Wales and whose registered office address is Unit 11-13, The Steadings Business Centre, Maisemore, Gloucester, GL2 8EY.