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Registration number: 04448844

DIS Associates Ltd
(formerly Dryspell Irrigation Solutions Limited)

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

DIS Associates Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 11

 

DIS Associates Ltd

Company Information

Directors

Mr Bernard Vincent Bernard Powls

Mrs Phillipa Corby

Mr Matthew Alexander Corby

Company secretary

Mr Bernard Vincent Bernard Powls

Mr Matthew Alexander Corby

Registered office

Unit 2, Stratford Agri Park
Campden Road, Clifford Chambers
Stratford-upon-Avon
Warwickshire
CV37 8LP

Accountants

Randhawa Enterprises Limited
Just Nice House - Office 4
Millers Road
Warwick
Warwickshire
CV34 5AE

 

DIS Associates Ltd

(Registration number: 04448844)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

40,204

48,376

Current assets

 

Stocks

6

375,860

427,706

Debtors

7

113,230

37,637

Cash at bank and in hand

 

90,299

72,813

 

579,389

538,156

Creditors: Amounts falling due within one year

8

(167,383)

(175,826)

Net current assets

 

412,006

362,330

Total assets less current liabilities

 

452,210

410,706

Creditors: Amounts falling due after more than one year

8

(53,904)

(24,042)

Net assets

 

398,306

386,664

Capital and reserves

 

Called up share capital

9

115

105

Retained earnings

398,191

386,559

Shareholders' funds

 

398,306

386,664

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 May 2025 and signed on its behalf by:
 

.........................................
Mrs Phillipa Corby
Director

 

DIS Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as Dryspell Irrigation Solutions Limited.

The address of its registered office is:
Unit 2, Stratford Agri Park
Campden Road, Clifford Chambers
Stratford-upon-Avon
Warwickshire
CV37 8LP

These financial statements were authorised for issue by the Board on 21 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

DIS Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

DIS Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

DIS Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 6).

 

DIS Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2024

30,000

30,000

At 31 January 2025

30,000

30,000

Amortisation

At 1 February 2024

30,000

30,000

At 31 January 2025

30,000

30,000

Carrying amount

At 31 January 2025

-

-

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

-

60,801

56,367

117,168

Additions

5,121

-

-

5,121

At 31 January 2025

5,121

60,801

56,367

122,289

Depreciation

At 1 February 2024

-

46,126

22,666

68,792

Charge for the year

1,199

3,669

8,425

13,293

At 31 January 2025

1,199

49,795

31,091

82,085

Carrying amount

At 31 January 2025

3,922

11,006

25,276

40,204

At 31 January 2024

-

14,675

33,701

48,376

6

Stocks

2025
£

2024
£

Other inventories

375,860

427,706

 

DIS Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Debtors

Current

2025
£

2024
£

Trade debtors

106,246

37,637

Prepayments

6,952

-

Other debtors

32

-

 

113,230

37,637

 

DIS Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

10

-

960

Trade creditors

 

67,328

56,611

Taxation and social security

 

12,310

29,810

Accruals and deferred income

 

1,870

5,488

Other creditors

 

85,875

82,957

 

167,383

175,826

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

10

53,904

24,042

9

Share capital

Allotted, called up and fully paid shares

 

2025

2024

 

No.

£

No.

£

Ordinary of £1 each

110

110

100

100

Ordinary B shares of £1 each

5

5

5

5

 

115

115

105

105

10

Loans and borrowings

2025
£

2024
£

Non-current loans and borrowings

Bank borrowings

13,904

24,042

Other borrowings

40,000

-

53,904

24,042

 

DIS Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

2025
£

2024
£

Current loans and borrowings

Bank overdrafts

-

960

11

Dividends

   

2025

 

2024

   

£

 

£

Final dividend of £91.00 (2024 - £273.00) per ordinary share

 

10,000

 

30,000

         

12

Related party transactions

 

DIS Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

54,669

70,767