Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01falseexport of engineering supplies11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01415104 2023-04-01 2024-03-31 01415104 2022-04-01 2023-03-31 01415104 2024-03-31 01415104 2023-03-31 01415104 1 2023-04-01 2024-03-31 01415104 d:Director1 2023-04-01 2024-03-31 01415104 c:PlantMachinery 2023-04-01 2024-03-31 01415104 c:PlantMachinery 2024-03-31 01415104 c:PlantMachinery 2023-03-31 01415104 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01415104 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 01415104 c:MotorVehicles 2023-04-01 2024-03-31 01415104 c:MotorVehicles 2024-03-31 01415104 c:MotorVehicles 2023-03-31 01415104 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01415104 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 01415104 c:FurnitureFittings 2023-04-01 2024-03-31 01415104 c:FurnitureFittings 2024-03-31 01415104 c:FurnitureFittings 2023-03-31 01415104 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01415104 c:FurnitureFittings c:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 01415104 c:OfficeEquipment 2023-04-01 2024-03-31 01415104 c:OfficeEquipment 2024-03-31 01415104 c:OfficeEquipment 2023-03-31 01415104 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01415104 c:OfficeEquipment c:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 01415104 c:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 01415104 c:OtherPropertyPlantEquipment 2024-03-31 01415104 c:OtherPropertyPlantEquipment 2023-03-31 01415104 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01415104 c:OtherPropertyPlantEquipment c:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 01415104 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01415104 c:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 01415104 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 01415104 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 01415104 c:CurrentFinancialInstruments 2024-03-31 01415104 c:CurrentFinancialInstruments 2023-03-31 01415104 c:Non-currentFinancialInstruments 2024-03-31 01415104 c:Non-currentFinancialInstruments 2023-03-31 01415104 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 01415104 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 01415104 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 01415104 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 01415104 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 01415104 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 01415104 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 01415104 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 01415104 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2024-03-31 01415104 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2023-03-31 01415104 c:ShareCapital 2024-03-31 01415104 c:ShareCapital 2023-03-31 01415104 c:RetainedEarningsAccumulatedLosses 2024-03-31 01415104 c:RetainedEarningsAccumulatedLosses 2023-03-31 01415104 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 01415104 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 01415104 d:OrdinaryShareClass1 2023-04-01 2024-03-31 01415104 d:OrdinaryShareClass1 2024-03-31 01415104 d:OrdinaryShareClass1 2023-03-31 01415104 d:FRS102 2023-04-01 2024-03-31 01415104 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01415104 d:FullAccounts 2023-04-01 2024-03-31 01415104 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01415104 c:OtherPropertyPlantEquipment c:LeasedAssetsHeldAsLessee 2024-03-31 01415104 c:OtherPropertyPlantEquipment c:LeasedAssetsHeldAsLessee 2023-03-31 01415104 c:LeasedAssetsHeldAsLessee 2024-03-31 01415104 c:LeasedAssetsHeldAsLessee 2023-03-31 01415104 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01415104










DIAK TECHNICAL EXPORT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
DIAK TECHNICAL EXPORT LIMITED
REGISTERED NUMBER: 01415104

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,872
2,044

  
1,872
2,044

Current assets
  

Debtors: amounts falling due within one year
 6 
101,735
61,496

Cash at bank and in hand
 7 
731
4,293

  
102,466
65,789

Creditors: amounts falling due within one year
 8 
(119,532)
(77,913)

Net current liabilities
  
 
 
(17,066)
 
 
(12,124)

Total assets less current liabilities
  
(15,194)
(10,080)

Creditors: amounts falling due after more than one year
 9 
(46,893)
(48,291)

  

Net liabilities
  
(62,087)
(58,371)


Capital and reserves
  

Called up share capital 
 12 
175,000
175,000

Profit and loss account
  
(237,087)
(233,371)

  
(62,087)
(58,371)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 March 2025.

Page 1

 
DIAK TECHNICAL EXPORT LIMITED
REGISTERED NUMBER: 01415104
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024




M.R. Arkell
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The entity is a private company limited by shares, incorporated in England and Wales. The company's registered office is located at 6 Northlands Road, Southampton, Hampshire, SO15 2LF. The principal activity is the export of engineering equipment..

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is reliant upon the director's continuing financial support in terms of not drawing down on his loan account balance to be regarded as a going concern.  The director also took steps to ensure the cash flow stability of the company whilst coronavirus restrictions were in place. The director has indicated that he considers the company to be a going concern for the foreseeable future.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 4

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method or the reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment
-
3 years straight line basis
Motor vehicles
-
4 years reducing balance basis
Database
-
4 years straight line basis
Office equipment
-
4 years straight line basis
Other assets
-
4 years straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




R&D

£



Cost


At 1 April 2023
29,482



At 31 March 2024

29,482



Amortisation


At 1 April 2023
29,482



At 31 March 2024

29,482



Net book value



At 31 March 2024
-



At 31 March 2023
-




5.


Tangible fixed assets





Computer equipment
Motor vehicles
Database
Office equipment
Other assets

£
£
£
£
£



Cost or valuation


At 1 April 2023
1,847
8,155
17,729
19,555
3,429


Additions
739
-
-
-
-



At 31 March 2024

2,586
8,155
17,729
19,555
3,429



Depreciation


At 1 April 2023
859
7,355
17,729
19,299
3,429


Charge for the year on owned assets
462
200
-
64
-


Charge for the year on financed assets
185
-
-
-
-



At 31 March 2024

1,506
7,555
17,729
19,363
3,429
Page 7

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           5.Tangible fixed assets (continued)




Net book value



At 31 March 2024
1,080
600
-
192
-



At 31 March 2023
988
800
-
256
-

Total

£



Cost or valuation


At 1 April 2023
50,715


Additions
739



At 31 March 2024

51,454



Depreciation


At 1 April 2023
48,671


Charge for the year on owned assets
726


Charge for the year on financed assets
185



At 31 March 2024

49,582



Net book value



At 31 March 2024
1,872



At 31 March 2023
2,044

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Computer equipment
554
-

554
-


6.


Debtors

Page 8

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
£
£


Trade debtors
53,936
7,887

Other debtors
47,799
53,609

101,735
61,496



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
731
4,293

Less: bank overdrafts
(20,557)
(9,299)

(19,826)
(5,006)



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
20,557
9,299

Bank loans
5,000
5,000

Trade creditors
8,989
10,389

Corporation tax
-
381

Other taxation and social security
2,891
3,611

Obligations under finance lease and hire purchase contracts
277
-

Other creditors
81,218
48,633

Accruals and deferred income
600
600

119,532
77,913


Page 9

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
42,297
43,695

Other creditors
4,596
4,596

46,893
48,291


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Repayable by instalments
22,297
23,695

22,297
23,695

The company took out a Bounce Back Loan which was repayable in instalments over 10 years from December 2021. The annual rate of interest on this loan is 2.5%. The commencement of repayments was deferred although capital instalments are now being made. 48 capital instalments fall due more than five years after the balance sheet date. 

Page 10

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,000
5,000


5,000
5,000

Amounts falling due 1-2 years

Bank loans
5,000
5,000


5,000
5,000

Amounts falling due 2-5 years

Bank loans
15,000
15,000


15,000
15,000

Amounts falling due after more than 5 years

Bank loans
22,297
23,695

22,297
23,695

47,297
48,695



11.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
731
4,293




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



Page 11

 
DIAK TECHNICAL EXPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.Share capital (continued)

175,000 (2023 - 175,000) Ordinary shares of £1.00 each
175,000
175,000



13.


Related party transactions

During the year the company made payments on behalf of Ark Marine Limited and was re-imbursed by that company for payments made in prior years. The net result was a repayment of £6,359 (2023 payment of £6,742). The balance owed by Ark Marine Limited at year end was £45,589 (2023 £51,948). Ark Marine Limited is 100% owned by Mr. M. Arkell. 


14.


Post balance sheet events

The company's trade was impacted severely shortly after year end due to the worldwide coronavirus restrictions. The director has taken steps through taking advantage of the grants and loans provided by the Government to secure the financial position of the company during these restrictions.


15.


Controlling party

The company was under the control of Mr. M. Arkell, the director, throughout the year given his effective 100% beneficial interest of the equity shares in the company. 

 
Page 12