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Registration number: 06242467

DCLX Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2024

 

DCLX Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

Detailed Profit and Loss Account

10 to 12

 

DCLX Limited

Company Information

Directors

A Girdwood

ALD Simpson

D Coombe

Company secretary

R Coombe

Registered office

Unit 12 Klinger Industrial Park
Edgington Way
Sidcup
Kent
DA14 5AF

Accountants

Kishens Limited
Chartered Accountants13 Montpelier Avenue
Bexley
Kent
DA5 3AP

 

DCLX Limited

(Registration number: 06242467)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

207,108

238,115

Current assets

 

Debtors

5

499,750

307,084

Cash at bank and in hand

 

154,405

59,163

 

654,155

366,247

Prepayments and accrued income

 

58,456

48,318

Creditors: Amounts falling due within one year

6.1

(809,661)

(653,402)

Net current liabilities

 

(97,050)

(238,837)

Total assets less current liabilities

 

110,058

(722)

Creditors: Amounts falling due after more than one year

6.2

(287,404)

(115,234)

Provisions for liabilities

(32,831)

(46,964)

Accruals and deferred income

 

(4,750)

(4,500)

Net liabilities

 

(214,927)

(167,420)

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

(215,927)

(168,420)

Shareholders' deficit

 

(214,927)

(167,420)

For the financial 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 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 26 February 2025 and signed on its behalf by:
 

 

DCLX Limited

(Registration number: 06242467)
Abridged Balance Sheet as at 31 May 2024

.........................................
ALD Simpson
Director

 

DCLX Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 12 Klinger Industrial Park
Edgington Way
Sidcup
Kent
DA14 5AF
England

These financial statements were authorised for issue by the Board on 26 February 2025.

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 abridged 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 abridged 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 when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods or on completion of the designated services;
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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

DCLX Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

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.

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

Plant and machinery

25% reducing balance

Motor Vehicles

25% reducing balance

Fixtures, fittings and equipment

33% straight line

Leasehold Improvements

Over the period of 5 Years

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.

 

DCLX Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

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.

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.

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.

 

DCLX Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

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 20 (2023 - 19).

4

Tangible Assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Cost or valuation

At 1 June 2023

75,000

101,192

147,818

508,298

Additions

-

81,965

-

-

Disposals

-

(71,483)

-

-

At 31 May 2024

75,000

111,674

147,818

508,298

Depreciation

At 1 June 2023

30,000

55,753

93,921

414,519

Charge for the year

15,000

61,053

13,474

23,445

Eliminated on disposal

-

(71,483)

-

-

At 31 May 2024

45,000

45,323

107,395

437,964

Carrying amount

At 31 May 2024

30,000

66,351

40,423

70,334

At 31 May 2023

45,000

45,439

53,897

93,779

 

DCLX Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Total
£

Cost or valuation

At 1 June 2023

832,308

Additions

81,965

Disposals

(71,483)

At 31 May 2024

842,790

Depreciation

At 1 June 2023

594,193

Charge for the year

112,972

Eliminated on disposal

(71,483)

At 31 May 2024

635,682

Carrying amount

At 31 May 2024

207,108

At 31 May 2023

238,115

Included within the net book value of land and buildings above is £30,000 (2023 - £45,000) in respect of short leasehold land and buildings.
 

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £86,384 (2023 - £108,579).

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £287,404 (2023 - £115,234).

 

DCLX Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of 160.80 (2023 - 106.20) per each ordinary shares

160,800

106,200

 

 

9

Parent and ultimate parent undertaking

The ultimate controlling party is directors.

 

DCLX Limited

Detailed Profit and Loss Account for the Year Ended 31 May 2024

2024
£

2023
£

Turnover (analysed below)

2,738,198

2,062,695

Cost of sales (analysed below)

(1,876,908)

(1,328,586)

Gross profit

861,290

734,109

Gross profit (%)

31.45%

35.59%

Administrative expenses

General administrative expenses (analysed below)

(716,753)

(590,546)

Operating profit

144,537

143,563

Interest payable and similar expenses (analysed below)

(16,289)

(17,941)

Profit before tax

128,248

125,622

 

DCLX Limited

Detailed Profit and Loss Account for the Year Ended 31 May 2024

2024
£

2023
£

Turnover

Sale of goods, UK

2,738,198

2,050,718

Grants and subsidies

-

11,977

2,738,198

2,062,695

Cost of sales

Purchases

1,030,765

533,242

Wages and salaries (excluding directors)

530,885

539,168

Staff NIC (Employers)

45,739

41,489

Consumable tools

28,990

39,579

Hire of other assets (Spot hire)

63,827

33,436

Courier services

15,754

13,343

Commissions payable

137,503

97,069

Depreciation of plant and machinery

23,445

31,260

1,876,908

1,328,586

General administrative expenses

Directors remuneration

41,400

41,400

Staff pensions (Defined contribution)

12,077

11,106

Directors pensions (Other)

18,000

18,000

Staff training

2,283

1,655

Rent

131,359

103,622

Rates

56,716

22,217

Light, heat and power

8,849

10,615

Insurance

50,088

30,028

Repairs and maintenance

19,245

74,586

Telephone and fax

5,271

5,057

Computer software and maintenance costs

8,361

7,187

Printing, postage and stationery

18,090

10,306

Trade subscriptions

10,565

7,656

Charitable donations

2,916

2,341

Lease of motor vehicles (Spot hire)

48,475

34,927

Cleaning

8,641

8,229

Motor expenses

41,174

37,329

Licence & Permit

1,666

180

Travel and subsistence

71,992

37,837

Advertising

10,213

13,945

Customer entertaining (disallowable for tax)

6,077

2,040

Accountancy fees

5,000

5,000

 

DCLX Limited

Detailed Profit and Loss Account for the Year Ended 31 May 2024

2024
£

2023
£

Legal and professional fees

43,634

32,227

Bad debts written off

-

12

Bank charges

5,134

4,456

Depreciation of short leasehold property

15,000

15,000

Depreciation of fixtures and fittings (owned)

61,053

35,622

Depreciation of motor vehicles (owned)

13,474

17,966

716,753

590,546

Operating profit

144,537

143,563

Interest payable and similar expenses

Hire purchase interest

11,556

11,991

Other loan interest

1,550

1,740

Foreign currency (gains)/losses

(464)

-

Interest on overdue taxation

3,647

4,210

16,289

17,941

Profit before tax

128,248

125,622