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Registration number: 3450001

Dessna Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Dessna Company Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Dessna Company Limited

Company Information

Directors

The Countess of Oxford and Asquith

The Earl of Oxford & Asquith OBE

Company secretary

The Countess of Oxford and Asquith

Registration number

3450001

Registered office

21 Market Place
Cirencester
Gloucestershire
GL7 2NX

Accountants

mca Shepherd Smail Unit 5 Priory Court
Priory Estate
Poulton
Cirencester
GL7 5JB

 

Dessna Company Limited

(Registration number: 3450001)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,040

19,074

Investments

5

849,974

849,974

 

868,014

869,048

Current assets

 

Debtors

6

70,728

63,591

Cash at bank and in hand

 

81,188

157,881

 

151,916

221,472

Creditors: Amounts falling due within one year

7

(131,266)

(200,735)

Net current assets

 

20,650

20,737

Net assets

 

888,664

889,785

Capital and reserves

 

Called up share capital

40,000

40,000

Retained earnings

848,664

849,785

Shareholders' funds

 

888,664

889,785

 

Dessna Company Limited

(Registration number: 3450001)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 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 and 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 30 June 2025 and signed on its behalf by:
 

The Earl of Oxford & Asquith OBE

Director

 

Dessna Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
21 Market Place
Cirencester
Gloucestershire
GL7 2NX

The principal place of business is:
The Manor House
Mells
Frome
Somerset
BA11 3PN

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Going concern

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.

 

Dessna Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

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:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance

Freehold land and buildings

2% Straight line balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

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.

 

Dessna Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

37,329

15,979

53,308

At 30 September 2024

37,329

15,979

53,308

Depreciation

At 1 October 2023

19,403

14,831

34,234

Charge for the year

747

287

1,034

At 30 September 2024

20,150

15,118

35,268

Carrying amount

At 30 September 2024

17,179

861

18,040

At 30 September 2023

17,926

1,148

19,074

Included within the net book value of land and buildings above is £17,179 (2023 - £17,926) in respect of freehold land and buildings.
 

 

Dessna Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Investments

Associates

£

Cost

At 1 October 2023

849,974

Provision

Carrying amount

At 30 September 2024

849,974

At 30 September 2023

849,974

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Associates

Zander Group Limited

TC Group London Limited, Level 1 Devonshire House, One Mayfair Place, London, W1J 8AJ

Ordinary

62%

62%

England and Wales

Associates

Zander Group Limited

The principal activity of Zander Group Limited is Other Mining and Quarrying.

6

Debtors

Current

2024
£

2023
£

Trade debtors

69,960

44,501

Other debtors

768

19,090

 

70,728

63,591

 

Dessna Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

456

622

Accruals and deferred income

4,160

3,840

Other creditors

126,650

196,273

131,266

200,735

 

Dessna Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Related party transactions

Transactions with directors

2024

At 1 October 2023
£

Repayments by director
£

At 30 September 2024
£

The Earl of Oxford & Asquith OBE

Loan

(196,273)

69,623

(126,650)

2023

At 1 October 2022
£

Repayments by director
£

At 30 September 2023
£

The Earl of Oxford & Asquith OBE

Loan

(159,266)

(37,007)

(196,273)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

-

3,000


Meteor Asset Management Limited
The Earl of Oxford and Asquith is a director of this company.

Dessna Company Limited provided consultancy services to this company amounting to £13,033 (2023: £49,901). At the balance sheet date the amount due from Meteor Asset Management Limited was £nil (2023: £21,181).

 

Dessna Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

'A' Ordinary shares of £1 each

10,000

10,000

10,000

10,000

'B' Ordinary shares of £1 each

30,000

30,000

30,000

30,000

 

40,000

40,000

40,000

40,000