Registered number
12847348
Dakiya Limited
Filleted Accounts
31 August 2024
Dakiya Limited
Registered number: 12847348
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,513 2,018
Investments 4 100 100
1,613 2,118
Current assets
Debtors 5 85,265 152,873
Cash at bank and in hand 44,319 138,960
129,584 291,833
Creditors: amounts falling due within one year 6 (53,962) (194,967)
Net current assets 75,622 96,866
Net assets 77,235 98,984
Capital and reserves
Called up share capital 200 200
Profit and loss account 77,035 98,784
Shareholder's funds 77,235 98,984
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Bedi
Director
Approved by the board on 23 January 2025
Dakiya Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 27 80
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 2,522
At 31 August 2024 2,522
Depreciation
At 1 September 2023 504
Charge for the year 505
At 31 August 2024 1,009
Net book value
At 31 August 2024 1,513
At 31 August 2023 2,018
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 September 2023 100
At 31 August 2024 100
5 Debtors 2024 2023
£ £
Trade debtors - 122,121
Amounts owed by group undertakings and undertakings in which the company has a participating interest 78,474 30,474
Other debtors 6,791 278
85,265 152,873
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors (300) 180
Taxation and social security costs - 86,434
Other creditors 54,262 108,353
53,962 194,967
7 Pension commitments
The pension cost charge represents contributions payable to the scheme and amounted to £716 (2023- £730). Contributions totalling £Nil (2023 - £Nil) were payable to the scheme at the year end and are provided for in the accounts.
8 Related party transactions
The directors received remuneration of £12,000 (2023-£12,000) and dividends of £1,800 (2023 -£67,000) during the year.
9 Controlling party
The Company is controlled by the directors by virtue of their shareholding in the company.
10 Other information
Dakiya Limited is a private company limited by shares and incorporated in England. Its registered office is:
253 Alcester Road South
Kings Heath
Birmingham
B14 6DT
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