Company registration number 09072057 (England and Wales)
DAILYBUY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
92 Station Road
Clacton on Sea
Essex
CO15 1SG
DAILYBUY LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
DAILYBUY LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr G Masters
Mr S Masters
Mrs T Masters
Company number
09072057
Registered office
Stephenson Place
Stephenson Road
Gorse Lane Industrial Estate
Clacton on Sea
Essex
CO15 4XA
Accountants
TC Group
92 Station Road
Clacton on Sea
Essex
CO15 1SG
DAILYBUY LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
34,263
34,751
Current assets
Stocks
394,794
394,906
Debtors
5
60,985
54,560
Cash at bank and in hand
80,595
155,582
536,374
605,048
Creditors: amounts falling due within one year
6
(274,786)
(294,705)
Net current assets
261,588
310,343
Total assets less current liabilities
295,851
345,094
Provisions for liabilities
(1,678)
(2,040)
Net assets
294,173
343,054
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
293,973
342,854
Total equity
294,173
343,054
DAILYBUY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 21 May 2025 and are signed on its behalf by:
Mr S Masters
Director
Company Registration No. 09072057
The notes on pages 4 to 8 form part of these financial statements
DAILYBUY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
1
Accounting policies
Company information

Dailybuy Limited is a private company limited by shares incorporated in England and Wales. The registered office is Stephenson Place, Stephenson Road, Gorse Lane Industrial Estate, Clacton on Sea, Essex, CO15 4XA.

1.1
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

1.4
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
10% straight line
Plant and machinery
25% reducing balance
Fixtures and fittings
25% reducing balance
Equipment
25% reducing balance
DAILYBUY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -

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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DAILYBUY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

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

1.10
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.

2
Employees

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

2024
2023
Number
Number
Total
7
7
DAILYBUY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
22,000
Amortisation and impairment
At 1 September 2023 and 31 August 2024
22,000
Carrying amount
At 31 August 2024
-
0
At 31 August 2023
-
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 September 2023
59,711
29,712
89,423
Additions
7,704
791
8,495
At 31 August 2024
67,415
30,503
97,918
Depreciation and impairment
At 1 September 2023
33,123
21,549
54,672
Depreciation charged in the year
6,741
2,242
8,983
At 31 August 2024
39,864
23,791
63,655
Carrying amount
At 31 August 2024
27,551
6,712
34,263
At 31 August 2023
26,588
8,163
34,751
DAILYBUY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
28,995
44,024
Other debtors
31,990
10,536
60,985
54,560
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
101,373
130,049
Amounts owed to group undertakings
124,056
99,262
Taxation and social security
36,514
55,919
Other creditors
12,843
9,475
274,786
294,705
7
Related party transactions

At the balance sheet date, the company owed £124,056 (2023: £99,262) to Grantleys Electrical Limited, a company controlled by a director.

8
Directors' transactions

During the year, the directors were advanced £24,560 and made repayments amounting to £18,384. At the balance sheet date, the directors owed £6,176 (2023: £nil) to the company.

2024-08-312023-09-01falsefalsefalse22 May 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr G MastersMr S MastersMrs T Masters090720572023-09-012024-08-3109072057bus:Director12023-09-012024-08-3109072057bus:Director22023-09-012024-08-3109072057bus:Director32023-09-012024-08-3109072057bus:RegisteredOffice2023-09-012024-08-31090720572024-08-31090720572023-08-3109072057core:LandBuildings2024-08-3109072057core:OtherPropertyPlantEquipment2024-08-3109072057core:LandBuildings2023-08-3109072057core:OtherPropertyPlantEquipment2023-08-3109072057core:CurrentFinancialInstrumentscore:WithinOneYear2024-08-3109072057core:CurrentFinancialInstrumentscore:WithinOneYear2023-08-3109072057core:CurrentFinancialInstruments2024-08-3109072057core:CurrentFinancialInstruments2023-08-3109072057core:ShareCapital2024-08-3109072057core:ShareCapital2023-08-3109072057core:RetainedEarningsAccumulatedLosses2024-08-3109072057core:RetainedEarningsAccumulatedLosses2023-08-3109072057core:Goodwill2023-09-012024-08-3109072057core:LeaseholdImprovementscore:LeasedAssetsHeldAsLessee2023-09-012024-08-3109072057core:PlantMachinery2023-09-012024-08-3109072057core:FurnitureFittings2023-09-012024-08-3109072057core:ComputerEquipment2023-09-012024-08-31090720572022-09-012023-08-3109072057core:NetGoodwill2023-08-3109072057core:NetGoodwill2024-08-3109072057core:NetGoodwill2023-08-3109072057core:LandBuildings2023-08-3109072057core:OtherPropertyPlantEquipment2023-08-31090720572023-08-3109072057core:LandBuildings2023-09-012024-08-3109072057core:OtherPropertyPlantEquipment2023-09-012024-08-3109072057core:WithinOneYear2024-08-3109072057core:WithinOneYear2023-08-3109072057bus:PrivateLimitedCompanyLtd2023-09-012024-08-3109072057bus:SmallCompaniesRegimeForAccounts2023-09-012024-08-3109072057bus:FRS1022023-09-012024-08-3109072057bus:AuditExemptWithAccountantsReport2023-09-012024-08-3109072057bus:FullAccounts2023-09-012024-08-31xbrli:purexbrli:sharesiso4217:GBP