REGISTERED NUMBER: 03303042 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Didac Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M P James

Mrs E E Stanley

G Lewis

M Stevens

SECRETARY:

M P James

REGISTERED OFFICE:

Woodwise Training Academy

Riverside

Crews Hole Road

Bristol

BS5 8BB

REGISTERED NUMBER:

03303042 (England and Wales)

ACCOUNTANTS:

Stanley Joseph Limited

Chartered Accountants

Suite 1

Liberty House

South Liberty Lane

Bristol

BS3 2ST

BANKERS:

Lloyds TSB

102 Regent Street

Kingswood

Bristol

BS16 1QG

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

598,343

603,428

598,343

603,428

CURRENT ASSETS

Debtors

6

178,670

195,024

Cash at bank and in hand

41,042

91

219,712

195,115

CREDITORS

Amounts falling due within one year

7

140,089

144,014

NET CURRENT ASSETS

79,623

51,101

TOTAL ASSETS LESS CURRENT LIABILITIES

677,966

654,529

CREDITORS

Amounts falling due after more than one year

8

(256,999

)

(342,709

)

PROVISIONS FOR LIABILITIES

(86,994

)

(65,339

)

NET ASSETS

333,973

246,481

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

10

246,087

270,520

Retained earnings

87,786

(24,139

)

SHAREHOLDERS' FUNDS

333,973

246,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2025 and were signed on its behalf by:

M P James - Director

1.	STATUTORY INFORMATION

Didac Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the amounts receivable, excluding VAT and trade discounts, by the company for goods and services provided during the year. All transactions arose in the United Kingdom.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Know how under development

Know how under development is capitalised as intellectual property. No amortisation is provided in the first year, and it is written off after that over 5 years.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 January 2024

and 31 December 2024

157,804

AMORTISATION

At 1 January 2024

and 31 December 2024

157,804

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

Intangible fixed assets represents knowhow in training frameworks for woodworking machinery operators and the merchanting trades.

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2024

580,000

109,214

126,688

815,902

Additions

-

5,350

10,487

15,837

At 31 December 2024

580,000

114,564

137,175

831,739

DEPRECIATION

At 1 January 2024

-

104,364

108,110

212,474

Charge for year

11,600

2,647

6,675

20,922

At 31 December 2024

11,600

107,011

114,785

233,396

NET BOOK VALUE

At 31 December 2024

568,400

7,553

22,390

598,343

At 31 December 2023

580,000

4,850

18,578

603,428

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

Valuation in 2023

287,111

-

-

287,111

Cost

292,889

114,564

137,175

544,628

580,000

114,564

137,175

831,739

The freehold property was valued at £580,000 by Cooper and Tanner Chartered surveyors on 14 December 2023.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

138,474

125,656

Amounts owed by associates

15,469

30,939

Tax

-

15,761

Prepayments and accrued income

24,727

22,668

178,670

195,024

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

21,920

41,849

Trade creditors

9,636

19,230

Amounts owed to group undertakings

3,000

-

Tax

13,938

-

Social security and other taxes

14,246

18,013

VAT

17,734

26,341

Other creditors

24,620

38,581

Accrued expenses

34,995

-

140,089

144,014

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 2-5 years

5,000

15,000

Mortgage - 2-5 years

57,680

44,256

Mortgage more than 5 years

100,201

126,335

Directors' loan accounts

94,118

157,118

256,999

342,709

Amounts falling due in more than five years:

Repayable by instalments

Mortgage more than 5 years

100,201

126,335

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

184,801

206,655

Directors loan

94,118

157,118

278,919

363,773

The bank loan is secured with a legal charge on the company's property and a debenture on the company's assets. The directors loan is secured by a second charge on the company's assets

10.

RESERVES

Revaluation

reserve

£

At 1 January 2024

270,520

Deferred tax on revaluation

(18,575

)

Revaluation released

(5,858

)

At 31 December 2024

246,087

11.	RELATED PARTY DISCLOSURES