2023-08-012024-07-312024-07-31false12103962Direct Services Group 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Direct Services Group Limited

Registered Number
12103962
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

Direct Services Group Limited
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

MAKWANA, Bhavesh

Registered Address

86-90 Paul Street
London
EC2A 4NE

Registered Number

12103962 (England and Wales)
Direct Services Group Limited
Statement of Financial Position
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets340,57952,105
40,57952,105
Current assets
Debtors851200
Cash at bank and on hand24,07149,275
24,92249,475
Creditors amounts falling due within one year4(93,550)(123,549)
Net current assets (liabilities)(68,628)(74,074)
Total assets less current liabilities(28,049)(21,969)
Creditors amounts falling due after one year5(25,688)(26,603)
Net assets(53,737)(48,572)
Capital and reserves
Called up share capital11
Profit and loss account(53,738)(48,573)
Shareholders' funds(53,737)(48,572)
The financial statements were approved and authorised for issue by the Director on 16 July 2025, and are signed on its behalf by:
MAKWANA, Bhavesh
Director
Registered Company No. 12103962
Direct Services Group Limited
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The company has made significant losses, which could raise concerns about its ability to continue trading. However, management has prepared forecasts showing improved trading and sufficient cash flow. Based on this, the directors believe the company will continue operating for the foreseeable future and have prepared the accounts on a going concern basis.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Vehicles20-
Office Equipment-3
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 August 2369,4009,45378,853
At 31 July 2469,4009,45378,853
Depreciation and impairment
At 01 August 2319,3397,40926,748
Charge for year10,0121,51411,526
At 31 July 2429,3518,92338,274
Net book value
At 31 July 2440,04953040,579
At 31 July 2350,0612,04452,105
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables10,94432,299
Bank borrowings and overdrafts2,6856,553
Taxation and social security9,05512,834
Other creditors70,86671,863
Total93,550123,549
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts25,68826,603
Total25,68826,603