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Registered number: 08167046
Damselfly Living Limited
Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08167046
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 5 202,225 202,225
202,225 202,225
CURRENT ASSETS
Stocks 6 32,000 32,000
Debtors 7 - 957
Cash at bank and in hand 1,046 955
33,046 33,912
Creditors: Amounts Falling Due Within One Year 8 (103,770 ) (91,558 )
NET CURRENT ASSETS (LIABILITIES) (70,724 ) (57,646 )
TOTAL ASSETS LESS CURRENT LIABILITIES 131,501 144,579
Creditors: Amounts Falling Due After More Than One Year 9 (115,269 ) (131,320 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (33 ) (33 )
NET ASSETS 16,199 13,226
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 16,099 13,126
SHAREHOLDERS' FUNDS 16,199 13,226
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Sarah Molloy
Director
27th March 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Damselfly Living Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08167046 . The registered office is 122 Eastgate, Louth, Lincolnshire, LN11 9AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost / revaluation
Plant & Machinery 25% on cost
Motor Vehicles 25% on cost
2.4. Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 1 1
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 July 2023 317 10,381 10,698
As at 30 June 2024 317 10,381 10,698
Depreciation
As at 1 July 2023 317 10,381 10,698
As at 30 June 2024 317 10,381 10,698
Net Book Value
As at 30 June 2024 - - -
As at 1 July 2023 - - -
Page 3
Page 4
5. Investment Property
2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 202,225
6. Stocks
2024 2023
£ £
Stock 32,000 32,000
7. Debtors
2024 2023
£ £
Due within one year
Other taxes and social security - 957
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (2 ) -
Other taxes and social security 374 -
VAT 3,100 1,812
Accruals and deferred income 970 970
Director's loan account 99,328 88,776
103,770 91,558
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 115,269 131,320
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4