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REGISTERED NUMBER: 04301247 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

DALLAS WEAR LIMITED

DALLAS WEAR LIMITED (REGISTERED NUMBER: 04301247)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DALLAS WEAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: A S Dhanoa
Mrs R K Dhanoa





SECRETARY: Mrs G P Dhanoa





REGISTERED OFFICE: Unit 6
Avenue Business Park
Justin Road
Chingford
London
E4 8SU





REGISTERED NUMBER: 04301247 (England and Wales)





ACCOUNTANTS: Ashfords Partnership LLP
114 - 116 Goodmayes Road
Ilford
Essex
IG3 9UZ

DALLAS WEAR LIMITED (REGISTERED NUMBER: 04301247)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 527,734 530,313
Investment property 5 256,937 256,937
784,671 787,250

CURRENT ASSETS
Stocks 219,655 134,244
Debtors 6 488,330 580,733
Cash at bank and in hand 5,665 122,187
713,650 837,164
CREDITORS
Amounts falling due within one year 7 197,971 219,485
NET CURRENT ASSETS 515,679 617,679
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,300,350

1,404,929

CREDITORS
Amounts falling due after more than one
year

8

(493,896

)

(594,646

)

PROVISIONS FOR LIABILITIES (67,908 ) (67,908 )
NET ASSETS 738,546 742,375

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Fair value reserve 9 187,479 187,479
Retained earnings 521,067 524,896
SHAREHOLDERS' FUNDS 738,546 742,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DALLAS WEAR LIMITED (REGISTERED NUMBER: 04301247)

BALANCE SHEET - continued
30 APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:





A S Dhanoa - Director


DALLAS WEAR LIMITED (REGISTERED NUMBER: 04301247)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Dallas Wear Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

DALLAS WEAR LIMITED (REGISTERED NUMBER: 04301247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 May 2023
and 30 April 2024 520,000 93,022 25,671 638,693
DEPRECIATION
At 1 May 2023 - 85,132 23,248 108,380
Charge for year - 1,973 606 2,579
At 30 April 2024 - 87,105 23,854 110,959
NET BOOK VALUE
At 30 April 2024 520,000 5,917 1,817 527,734
At 30 April 2023 520,000 7,890 2,423 530,313

Cost or valuation at 30 April 2024 is represented by:

Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
Valuation in 2023 250,479 - - 250,479
Cost 269,521 93,022 25,671 388,214
520,000 93,022 25,671 638,693

If freehold property had not been revalued it would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 269,521 269,521
Aggregate depreciation 5,840 5,840

Value of land in freehold land and buildings 263,681 263,681

Freehold property was valued on on open market value basis on 3 October 2023 by Glenny Chartered Surveyors .

DALLAS WEAR LIMITED (REGISTERED NUMBER: 04301247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 256,937
NET BOOK VALUE
At 30 April 2024 256,937
At 30 April 2023 256,937

6. DEBTORS
30.4.24 30.4.23
£    £   
Amounts falling due within one year:
Trade debtors 36,266 25,402
Other debtors 12,660 673
48,926 26,075

Amounts falling due after more than one year:
Amounts owed by associates 439,404 554,658

Aggregate amounts 488,330 580,733

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 43,474 43,474
Trade creditors 145,281 91,814
Taxation and social security 329 74,210
Other creditors 8,887 9,987
197,971 219,485

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 364,743 378,288
Other creditors 129,153 216,358
493,896 594,646

9. RESERVES
Fair
value
reserve
£   
At 1 May 2023
and 30 April 2024 187,479