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Registration number: 08708446

Dan-Cod (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Dan-Cod (UK) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Dan-Cod (UK) Limited

(Registration number: 08708446)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

83,711

92,821

Investments

5

-

4,715

 

83,711

97,536

Current assets

 

Stocks

6

30,000

65,100

Debtors

7

384,391

283,581

Cash at bank and in hand

 

58,553

39,327

 

472,944

388,008

Creditors: Amounts falling due within one year

8

(356,389)

(372,044)

Net current assets

 

116,555

15,964

Total assets less current liabilities

 

200,266

113,500

Creditors: Amounts falling due after more than one year

8

(6,189)

(14,512)

Provisions for liabilities

(18,701)

(20,602)

Net assets

 

175,376

78,386

Capital and reserves

 

Called up share capital

1

1

Retained earnings

175,375

78,385

Shareholders' funds

 

175,376

78,386

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts and the annual return.

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 Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 July 2025
 

.........................................
M Nielsen
Director

 

Dan-Cod (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
26 South St. Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW

These financial statements were authorised for issue by the director on 25 July 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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Group accounts not prepared

The Company has taken exemption from preparing Group accounts as per section 399 of the Companies Act as the Group it heads is a small Group.

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 currencies other than the functional currency of the Company are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non monetary items are measured at historic cost and not retranslated.

 

Dan-Cod (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tax

The tax expense for the period comprises current and deferred 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 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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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 & machinery

10 - 25% reducing balance basis

Fixtures & fittings

5% reducing balance basis

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

 

Dan-Cod (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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.

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.

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 the Director) during the year, was 8 (2023 - 9).

 

Dan-Cod (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

119,011

3,508

122,519

Additions

10,160

-

10,160

At 31 October 2024

129,171

3,508

132,679

Depreciation

At 1 November 2023

29,171

526

29,697

Charge for the year

18,675

596

19,271

At 31 October 2024

47,846

1,122

48,968

Carrying amount

At 31 October 2024

81,325

2,386

83,711

At 31 October 2023

89,839

2,982

92,821

5

Investments

2024
£

2023
£

Investments in subsidiaries

-

4,715

Subsidiaries

£

Cost or valuation

At 1 November 2023

4,715

Revaluation

(4,715)

At 31 October 2024

-

Provision

At 31 October 2024

-

Carrying amount

At 31 October 2024

-

At 31 October 2023

4,715

 

Dan-Cod (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Details of undertakings

Details of the investments 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

Subsidiary undertakings

ESBAC (DK) ApS

Denmark

Ordinary shares

100%

100%

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

30,000

65,100

7

Debtors

Current

2024
£

2023
£

Trade debtors

338,458

232,801

Prepayments

25,573

5,306

Other debtors

20,360

45,474

 

384,391

283,581

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

76,142

50,177

Trade creditors

 

200,386

301,988

Taxation and social security

 

63,141

1,527

Accruals and deferred income

 

11,051

18,329

Other creditors

 

5,669

23

 

356,389

372,044

 

Dan-Cod (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,189

14,512

Current loans and borrowings

2024
£

2023
£

Bank borrowings

8,478

8,000

Bank overdrafts

-

5,349

Other borrowings

67,664

36,828

76,142

50,177

10

Related party transactions

Director's remuneration

The Director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,096

9,096