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REGISTERED NUMBER: 03681861 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

DENNIS DAY LIMITED

DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DENNIS DAY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: D S Rose
M Rhodes





SECRETARY: M Rhodes





REGISTERED OFFICE: 111b Regents Park Road
London
NW1 8UR





REGISTERED NUMBER: 03681861 (England and Wales)





INDEPENDENT AUDITORS: MGR SD Limited
Chartered Accountants
Statutory Auditors
55 Loudoun Road
London
NW8 0DL

DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,624 2,697

CURRENT ASSETS
Stocks 5 - 44,832
Debtors 6 449,917 487,410
Cash at bank and in hand 20,758 74,868
470,675 607,110
CREDITORS
Amounts falling due within one year 7 (379,184 ) (425,370 )
NET CURRENT ASSETS 91,491 181,740
TOTAL ASSETS LESS CURRENT LIABILITIES 96,115 184,437

CREDITORS
Amounts falling due after more than one
year

8

(14,237

)

(24,748

)
NET ASSETS 81,878 159,689

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 81,778 159,589
SHAREHOLDERS' FUNDS 81,878 159,689

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 6 February 2025 and were signed on its behalf by:




D S Rose - Director



M Rhodes - Director


DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Dennis Day 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Office equipment - 25% on cost
Fixtures and fittings - 25% on cost

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Office and
equipment fittings Totals
£    £    £   
COST
At 1 June 2023 79,328 9,920 89,248
Additions 4,597 - 4,597
Transfer to ownership (21,445 ) - (21,445 )
At 31 May 2024 62,480 9,920 72,400
DEPRECIATION
At 1 June 2023 77,118 9,433 86,551
Charge for year 2,508 162 2,670
Transfer to ownership (21,445 ) - (21,445 )
At 31 May 2024 58,181 9,595 67,776
NET BOOK VALUE
At 31 May 2024 4,299 325 4,624
At 31 May 2023 2,210 487 2,697

DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Office
equipment
£   
COST
At 1 June 2023 21,445
Transfer to ownership (21,445 )
At 31 May 2024 -
DEPRECIATION
At 1 June 2023 21,445
Transfer to ownership (21,445 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. STOCKS
31.5.24 31.5.23
£    £   
Stocks - 44,832

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 80,781 147,329
Amounts owed by group companies 293,214 281,123
Other debtors 75,922 58,958
449,917 487,410

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts (see note 9) 75,906 97,651
Trade creditors 110,102 82,032
Amounts owed to group companies 17,897 48,127
Taxation and social security 17,504 47,346
Other creditors 157,775 150,214
379,184 425,370

DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included within bank loans and overdrafts is an amount totalling £65,143 (2023: £87,399) due to a debt factoring company.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans (see note 9) 14,237 24,748

9. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 65,143 87,399
Bank loans 10,763 10,252
Finance lease- within 1 year - 1,427
75,906 99,078

Amounts falling due between two and five years:
Bank loans - 2-5 years 14,237 24,748

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Factoring account 65,143 87,399
Bank loan 25,000 35,000
90,143 122,399

The factoring account is secured by a fixed charge over book debts and a floating charge over all other assets of the company. The bank loan is secured under the Bounce Back Loan scheme.

The landlord holds a rent deposit deed to the value of £30,037 (2023: £30,037).

11. DEFERRED TAX
£   
Balance at 1 June 2023 (2,300 )
Provided during year (13,116 )
Balance at 31 May 2024 (15,416 )

DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Lydia Warde FCA (Senior Statutory Auditor)
for and on behalf of MGR SD Limited

14. PENSION COMMITMENTS

The company makes payments to a defined contribution pension scheme on behalf of employees and directors. Amounts charged to the profit and loss account during the year totalled £148,155 (2023: £87,386). At the balance sheet date there were unpaid employer pension contributions of £103,876 (2023: £18,652).

15. RELATED PARTY DISCLOSURES

Garment Services Group Ltd (GSGL)

The parent company.


The company charged GSGL interest of £11,277 (2023: £10,812) at a commercial rate of 4% (2023: 4%).

31.5.24 31.5.23
£    £   
Amount due from related party at the balance sheet date 293,214 281,123

Garment Services Meegoda (PVT) Ltd (GSMPL)

A company in the same group.


GSMPL charged the company commissions of £17,550 (2023: £33,252) and the company purchased stock from GSMPL totalling £351,000 (2023: £701,796).

31.5.24 31.5.23
£    £   
Amount due to related party at the balance sheet date 17,897 48,127

16. ULTIMATE CONTROLLING PARTY

The controlling party is D S Rose due to his shareholding in the parent company.

DENNIS DAY LIMITED (REGISTERED NUMBER: 03681861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


17. PARENT COMPANY

The company is a wholly owned subsidiary of their parent company Garment Services Group Ltd (GSGL) in which D S Rose is a shareholder. The company is included in the consolidated accounts of GSGL.

Registered office address of GSGL:

RMS 1120 & 1122 11/F
Leighton Centre
77 Leighton Road
Causeway Bay
Hong Kong