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Company registration number: 13397097
DDA Projects (Residential) Ltd
Unaudited filleted financial statements
31 May 2024
DDA Projects (Residential) Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
DDA Projects (Residential) Ltd
Directors and other information
Directors Mr M Platt
Mr D Bevan
Mr D Aikenhead
Mr C Rees
Company number 13397097
Registered office Unit 1 a Pioneer Mill
Morton Street
Middleton
Manchester
M24 6AN
Accountant JP Gallagher & Co
106 Moston Lane East
Manchester
M40 3QL
DDA Projects (Residential) Ltd
Statement of financial position
31 May 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 1,640 1,930
_______ _______
1,640 1,930
Current assets
Stocks 28,306 56,692
Debtors 6 12,588 8,994
Cash at bank and in hand 9,662 13,078
_______ _______
50,556 78,764
Creditors: amounts falling due
within one year 7 ( 35,114) ( 68,742)
_______ _______
Net current assets 15,442 10,022
_______ _______
Total assets less current liabilities 17,082 11,952
_______ _______
Net assets 17,082 11,952
_______ _______
Capital and reserves
Called up share capital 8 100 100
Profit and loss account 16,982 11,852
_______ _______
Shareholders funds 17,082 11,952
_______ _______
For the year ending 31 May 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 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 February 2025 , and are signed on behalf of the board by:
Mr M. Platt
Director
Company registration number: 13397097
DDA Projects (Residential) Ltd
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 1 a Pioneer Mill, Morton Street, Middleton, Manchester, M24 6AN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant and machinery - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 2 (2023: 1 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 69,073 29,563
Social security costs 1,711 2,991
Other pension costs 2,006 887
_______ _______
72,790 33,441
_______ _______
5. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 June 2023 and 31 May 2024 2,255 2,255
_______ _______
Depreciation
At 1 June 2023 325 325
Charge for the year 290 290
_______ _______
At 31 May 2024 615 615
_______ _______
Carrying amount
At 31 May 2024 1,640 1,640
_______ _______
At 31 May 2023 1,930 1,930
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 5,098 8,994
Other debtors 7,490 -
_______ _______
12,588 8,994
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 8,434 49,329
Corporation tax 1,271 1,502
Social security and other taxes 5,205 6,604
Other creditors 20,204 11,307
_______ _______
35,114 68,742
_______ _______
8. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
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 o/standing
£ £ £
Mr M Platt ( 1,000) 990 ( 10)
Mr D Bevan ( 1,982) 1,980 ( 2)
Mr D Aikenhead ( 3,500) 3,465 ( 35)
Mr C Rees ( 3,500) 3,465 ( 35)
_______ _______ _______
( 9,982) 9,900 ( 82)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr M Platt ( 1,000) - ( 1,000)
Mr D Bevan ( 2,000) 18 ( 1,982)
Mr D Aikenhead ( 3,400) ( 100) ( 3,500)
Mr C Rees ( 3,500) - ( 3,500)
_______ _______ _______
( 9,900) ( 82) ( 9,982)
_______ _______ _______
10. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2024 2023 2024 2023
£ £ £ £
DDA Projects Ltd 62 ( 1,140) ( 234) ( 296)
_______ _______ _______ _______
At the year end date there was a balance due to DDA Projects Ltd in the sum of £243 (2023:£296). DDA Projects Ltd is a related party due to common directorships and control.