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Registration number: 02837346

Detailmost Trading Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Detailmost Trading Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Detailmost Trading Limited

Company Information

Directors

Mr D J Payne

Miss E Martinez Tome

Registered office

1-2 Rhodium Point Hawkinge Business Park
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Detailmost Trading Limited

(Registration number: 02837346)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

67,072

84,757

Current assets

 

Stocks

5

46,833

62,093

Debtors

6

57,938

25,699

Cash at bank and in hand

 

99,691

111,325

 

204,462

199,117

Creditors: Amounts falling due within one year

7

(234,607)

(269,988)

Net current liabilities

 

(30,145)

(70,871)

Total assets less current liabilities

 

36,927

13,886

Creditors: Amounts falling due after more than one year

7

-

(6,349)

Provisions for liabilities

(16,768)

(21,189)

Net assets/(liabilities)

 

20,159

(13,652)

Capital and reserves

 

Called up share capital

65

65

Capital redemption reserve

35

35

Retained earnings

20,059

(13,752)

Shareholders' funds/(deficit)

 

20,159

(13,652)

 

Detailmost Trading Limited

(Registration number: 02837346)
Balance Sheet as at 31 October 2024 (continued)

For the financial year ending 31 October 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 and 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 7 February 2025 and signed on its behalf by:
 

.........................................
Mr D J Payne
Director

.........................................
Miss E Martinez Tome
Director

 
     
 

Detailmost Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
1-2 Rhodium Point Hawkinge Business Park
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ
United Kingdom

The principal place of business is:
108 Sandgate Road
Folkestone
Kent
CT20 2BW

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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 and deferred 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.

 

Detailmost Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

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.

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

Motor vehicles

25% reducing balance

Fixtures and fittings

10% reducing balance

Office equipment

15% reducing balance

Leasehold improvements

100% on acquisition

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 merchandise sold or 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.

 

Detailmost Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Detailmost Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 11).

 

Detailmost Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

5,484

47,132

5,168

111,540

169,324

Additions

-

-

1,500

-

1,500

At 31 October 2024

5,484

47,132

6,668

111,540

170,824

Depreciation

At 1 November 2023

5,484

34,339

3,997

40,747

84,567

Charge for the year

-

1,279

208

17,698

19,185

At 31 October 2024

5,484

35,618

4,205

58,445

103,752

Carrying amount

At 31 October 2024

-

11,514

2,463

53,095

67,072

At 31 October 2023

-

12,793

1,171

70,793

84,757

5

Stocks

2024
£

2023
£

Raw materials and consumables

46,833

62,093

6

Debtors

Current

2024
£

2023
£

Trade debtors

56,292

20,452

Prepayments

1,646

5,247

 

57,938

25,699

 

Detailmost Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

57,894

83,254

Trade creditors

 

95,586

135,815

Taxation and social security

 

77,437

47,225

Accruals and deferred income

 

2,756

2,723

Other creditors

 

934

971

 

234,607

269,988

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

6,349

8

Reserves

Capital redemption reserve

This is a statutory, non-distributable reserve into which amounts have been transferred following the purchase of the company's own shares out of distributable profits. During the year, 35 ordinary shares were purchased and cancelled at a cost of £96,000. The increase in the reserve is the nominal value of these shares.

 

Detailmost Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

HP and finance lease liabilities

-

6,349

Current loans and borrowings

2024
£

2023
£

Directors current account

51,545

73,436

Hire purchase liabilities

6,349

9,818

57,894

83,254

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £800.00 (2023 - £300.00) per each Ordinary shares

80,000

30,000

 

 

11

Related party transactions

Transactions with directors

2024

At 1 November 2023
£

Advances to director
£

Repayments by director
£

At 31 October 2024
£

Mr D J Payne

44,444

(93,692)

53,077

3,829

Miss E Martinez Tome

28,992

(18,433)

37,157

47,716

 

Detailmost Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

11

Related party transactions (continued)

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Mr D J Payne

24,230

(40,286)

60,500

44,444

Mr R Arnold

24,230

(34,730)

10,500

-

Miss E Martinez Tome

20,460

(20,468)

29,000

28,992

 

Detailmost Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

11

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

63,440

66,335

Contributions paid to money purchase schemes

764

650

64,204

66,985

Dividends paid to directors

2024
£

2023
£

Mr R Arnold

Interim dividend

-

10,500

 

 

Mr D J Payne

Interim dividend

43,077

10,500

 

 

Miss E Martinez Tome

Interim dividend

36,923

9,000