Company registration number 02294057 (England and Wales)
Ditco Business Services Limited
Audited Financial Statements
For the year ended
31 December 2024
Pages for filing with registrar
Ditco Business Services Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
Ditco Business Services Limited
Statement Of Financial Position
As at 31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
31,242
26,566
Current assets
Debtors
5
1,187,504
1,199,667
Cash at bank and in hand
16,802
38,206
1,204,306
1,237,873
Creditors: amounts falling due within one year
6
(1,014,861)
(1,024,179)
Net current assets
189,445
213,694
Net assets
220,687
240,260
Capital and reserves
Called up share capital
1,500,000
1,500,000
Profit and loss reserves
(1,279,313)
(1,259,740)
Total equity
220,687
240,260

The notes on pages 3 to 6 form part of these financial statements.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 8 May 2025 and are signed on its behalf by:
J.M.F. Wigram
Director
Company registration number 02294057 (England and Wales)
Ditco Business Services Limited
Statement Of Changes In Equity
For the year ended 31 December 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
750,000
(1,378,430)
(628,430)
Year ended 31 December 2023:
Profit and total comprehensive income
-
118,690
118,690
Issue of share capital
750,000
-
750,000
Balance at 31 December 2023
1,500,000
(1,259,740)
240,260
Year ended 31 December 2024:
Loss and total comprehensive income
-
(19,573)
(19,573)
Balance at 31 December 2024
1,500,000
(1,279,313)
220,687

The notes on pages 3 to 6 form part of these financial statements.

Ditco Business Services Limited
Notes To The Financial Statements
For the year ended 31 December 2024
- 3 -
1
General information

Ditco Business Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dixcart House, Addlestone Road, Bourne Business Park, Addlestone, Surrey, KT15 2LE.

2
Accounting policies
2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operation for the foreseeable future. The validity of this assumption depends on the continued support of a related company and it has been confirmed that further support will be made available if required.true

 

The financial statements do not include any adjustments that would result if this support were withdrawn.

 

Therefore, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3
Turnover

The turnover shown in the profit and loss account represents amounts receivable from the provision of accountancy services during the year, exclusive of value added tax.

2.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
60 months straight line
Computer equipment
36 months straight line
Fixtures and fittings
120 months straight line
Office equipment
60 months straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Ditco Business Services Limited
Notes To The Financial Statements (Continued)
For the year ended 31 December 2024
2
Accounting policies
(Continued)
- 4 -
2.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from related companies classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

2.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.9
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Ditco Business Services Limited
Notes To The Financial Statements (Continued)
For the year ended 31 December 2024
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
38
37
4
Tangible fixed assets
Leasehold improvements
Computer equipment
Fixtures and fittings
Office equipment
Total
£
£
£
£
£
Cost
At 1 January 2024
995,901
80,082
22,860
12,329
1,111,172
Additions
8,632
6,229
2,068
433
17,362
Disposals
-
0
(4,434)
-
0
-
0
(4,434)
At 31 December 2024
1,004,533
81,877
24,928
12,762
1,124,100
Depreciation and impairment
At 1 January 2024
994,708
64,062
14,933
10,903
1,084,606
Depreciation charged in the year
680
9,361
2,262
383
12,686
Eliminated in respect of disposals
-
0
(4,434)
-
0
-
0
(4,434)
At 31 December 2024
995,388
68,989
17,195
11,286
1,092,858
Carrying amount
At 31 December 2024
9,145
12,888
7,733
1,476
31,242
At 31 December 2023
1,193
16,020
7,927
1,426
26,566
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
568
-
0
Amounts owed by group undertakings
1,041,813
1,058,432
Other debtors
145,123
141,235
1,187,504
1,199,667
Ditco Business Services Limited
Notes To The Financial Statements (Continued)
For the year ended 31 December 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
67,852
90,505
Taxation and social security
193,897
205,106
Other creditors
753,112
728,568
1,014,861
1,024,179
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Rebecca White BSc FCA
Statutory Auditor:
Riches & Company
Date of audit report:
8 May 2025
8
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitments
80,670
242,625
9
Parent company

The ultimate parent company of Ditco Business Services Limited at the balance sheet date was Dixcart Group UK Holding Limited, a company incorporated in Guernsey whose registered office is Dixcart House, Ground Floor, Sir William Place, St. Peter Port, Guernsey, GY1 1GX.

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