0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 694 185 139 324 370 509 xbrli:pure xbrli:shares iso4217:GBP 02260566 2023-10-01 2024-09-30 02260566 2024-09-30 02260566 2023-09-30 02260566 2022-10-01 2023-09-30 02260566 2023-09-30 02260566 2022-09-30 02260566 bus:Director2 2023-10-01 2024-09-30 02260566 core:WithinOneYear 2024-09-30 02260566 core:WithinOneYear 2023-09-30 02260566 core:ShareCapital 2024-09-30 02260566 core:ShareCapital 2023-09-30 02260566 core:RetainedEarningsAccumulatedLosses 2024-09-30 02260566 core:RetainedEarningsAccumulatedLosses 2023-09-30 02260566 bus:Director1 2023-10-01 2024-09-30 02260566 bus:SmallEntities 2023-10-01 2024-09-30 02260566 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 02260566 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 02260566 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02260566 bus:FullAccounts 2023-10-01 2024-09-30 02260566 core:ComputerEquipment 2023-10-01 2024-09-30 02260566 core:ComputerEquipment 2024-09-30 02260566 core:ComputerEquipment 2023-09-30
COMPANY REGISTRATION NUMBER: 02260566
Disc-Lock Europe Limited
Filleted Unaudited Financial Statements
30 September 2024
Disc-Lock Europe Limited
Financial Statements
Year ended 30 September 2024
Contents
Pages
Balance sheet
1 to 2
Notes to the financial statements
3 to 6
Disc-Lock Europe Limited
Balance Sheet
30 September 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
370
509
Current assets
Stocks
210,635
151,342
Debtors
5
709,753
146,670
Cash at bank and in hand
334,057
871,901
------------
------------
1,254,445
1,169,913
Creditors: amounts falling due within one year
6
276,730
251,389
------------
------------
Net current assets
977,715
918,524
---------
---------
Total assets less current liabilities
978,085
919,033
---------
---------
Net assets
978,085
919,033
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
977,985
918,933
---------
---------
Shareholders funds
978,085
919,033
---------
---------
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 profit and loss has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Disc-Lock Europe Limited
Balance Sheet (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 25 February 2025 , and are signed on behalf of the board by:
Mr T Stokes
Director
Company registration number: 02260566
Disc-Lock Europe Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The company registered address is TCB House, Clywedog Road South, Wrexham Industrial Estate, Wrexham, Clwyd, Wales, LL13 9XS. The company registration number is 02260566 .
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.
Revenue recognition
The turnover in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. Turnover comprises the value of sales (exclusive of VAT and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when goods are despatched, which is the same day on which goods are delivered and hence the point at which the risks and rewards of ownership pass to the buyer.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Computer Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist.
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, and other costs incurred in bringing the stock to its present location and condition. Estimated selling price is the estimated proceeds from the sale of stock items, less all future costs to completion, costs to be incurred in marketing, selling and distributing.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and cash in hand. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value.
4. Tangible assets
Equipment
Total
£
£
Cost
At 1 October 2023 and 30 September 2024
694
694
----
----
Depreciation
At 1 October 2023
185
185
Charge for the year
139
139
----
----
At 30 September 2024
324
324
----
----
Carrying amount
At 30 September 2024
370
370
----
----
At 30 September 2023
509
509
----
----
5. Debtors
2024
2023
£
£
Trade debtors
111,029
133,566
Other debtors
598,724
13,104
---------
---------
709,753
146,670
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,688
1,692
Amounts owed to group undertakings and undertakings in which the company has a participating interest
250,456
203,048
Corporation tax
19,618
40,654
Other creditors
1,968
5,995
---------
---------
276,730
251,389
---------
---------
7. Controlling party
The company was 100% owned by Connect One Ltd, a company incorporated in England and Wales, at the balance sheet date.
8. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1).