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Registration number: 04018775

DSI Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

DSI Group Limited

Contents

Balance Sheet

1 to 2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 9

 

DSI Group Limited

(Registration number: 04018775)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

13,270

315

Investment property

5

1,690,000

1,690,000

 

1,703,270

1,690,315

Current assets

 

Debtors

6

7,292

8,052

Cash at bank and in hand

 

2,347

6,943

 

9,639

14,995

Creditors: Amounts falling due within one year

7

(12,963)

(13,422)

Net current (liabilities)/assets

 

(3,324)

1,573

Total assets less current liabilities

 

1,699,946

1,691,888

Creditors: Amounts falling due after more than one year

7

(448,510)

(388,614)

Provisions for liabilities

(86,984)

(86,984)

Net assets

 

1,164,452

1,216,290

Capital and reserves

 

Called up share capital

8

102

102

Revaluation reserve

578,950

578,950

Retained earnings

585,400

637,238

Shareholders' funds

 

1,164,452

1,216,290

For the financial 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 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.

Approved and authorised by the Board on 27 January 2025 and signed on its behalf by:
 

 

DSI Group Limited

(Registration number: 04018775)
Balance Sheet as at 30 April 2024

.........................................
Mrs S Carroll
Director

 

DSI Group Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 May 2023

102

578,950

637,238

1,216,290

Loss for the year

-

-

(19,838)

(19,838)

Dividends

-

-

(32,000)

(32,000)

At 30 April 2024

102

578,950

585,400

1,164,452

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 May 2022

102

494,330

644,031

1,138,463

Profit for the year

-

-

77,827

77,827

Other comprehensive income

-

84,620

(84,620)

-

Total comprehensive income

-

84,620

(6,793)

77,827

At 30 April 2023

102

578,950

637,238

1,216,290

 

DSI Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Elmside
Ashlett Road
Fawley
Southampton
SO45 1DS
UK

These financial statements were authorised for issue by the Board on 27 January 2025.

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 consideration receivable as rental income.Turnover is shown net of 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.

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.

 

DSI Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Office equipment

33% straight line

Motor vehicles

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. Changes in fair value are recognised in profit or loss.

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.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

DSI Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

DSI Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

14,759

-

14,759

Additions

-

17,500

17,500

At 30 April 2024

14,759

17,500

32,259

Depreciation

At 1 May 2023

14,444

-

14,444

Charge for the year

170

4,375

4,545

At 30 April 2024

14,614

4,375

18,989

Carrying amount

At 30 April 2024

145

13,125

13,270

At 30 April 2023

315

-

315

5

Investment properties

2024
£

At 1 May

1,690,000

At 30 April

1,690,000

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

2023
£

Trade debtors

7,292

7,869

Prepayments

-

150

Other debtors

-

33

 

7,292

8,052

 

DSI Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

4,022

4,047

Trade creditors

 

442

2,120

Taxation and social security

 

991

1,217

Accruals and deferred income

 

750

1,500

Other creditors

 

6,758

4,538

 

12,963

13,422

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

448,510

388,614

Loans and borrowings over one year are secured via a fixed and floating charge over all investment property.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

2

2

2

2

Ordinary B of £1 each

100

100

100

100

102

102

102

102

 

DSI Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

363,025

359,855

Other borrowings

85,485

28,759

448,510

388,614

Current loans and borrowings

2024
£

2023
£

Bank borrowings

4,000

4,000

Bank overdrafts

22

47

4,022

4,047