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Registration number: 11746243

Deeping Direct Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Deeping Direct Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Deeping Direct Limited

Company Information

Directors

Mr K Eve

Mr A A Eve

Registered office

32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD

Accountants

Cannon Williamson
Chartered Certified AccountantsAlbion House
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD

 

Deeping Direct Limited

(Registration number: 11746243)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

2,002,818

2,098,564

Current assets

 

Stocks

5

10,500

128,500

Debtors

6

194,467

211,799

Cash at bank and in hand

 

1,463,694

861,883

 

1,668,661

1,202,182

Creditors: Amounts falling due within one year

7

(1,181,454)

(1,286,798)

Net current assets/(liabilities)

 

487,207

(84,616)

Total assets less current liabilities

 

2,490,025

2,013,948

Creditors: Amounts falling due after more than one year

7

(401,112)

(477,951)

Provisions for liabilities

(326,064)

(267,186)

Net assets

 

1,762,849

1,268,811

Capital and Reserves

 

Called up share capital

8

100

100

Retained Earnings

1,762,749

1,268,711

Shareholders' funds

 

1,762,849

1,268,811

For the financial year ending 31 December 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 6 August 2025 and signed on its behalf by:
 

 

Deeping Direct Limited

(Registration number: 11746243)
Balance Sheet as at 31 December 2024 (continued)

.........................................
Mr K Eve
Director

.........................................
Mr A A Eve
Director

 

Deeping Direct Limited

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

1

General information

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

The address of its registered office is:
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD
United Kingdom

These financial statements were authorised for issue by the Board on 6 August 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.

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.

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 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.

 

Deeping Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Land & buildings

not depreciated

Containers

10% straight line

Office equipment

10% reducing balance

Plant & equipment

10% and 20% reducing balance

Motor vehicles & trailers

10% and 20% straight line

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.

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.

 

Deeping Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

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.

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 directors) during the year, was 9 (2023 - 10).

 

Deeping Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4

Tangible Assets

Land and buildings
£

Containers
£

Office equipment
£

Motor vehicles
 £

Plant & equipment
£

Total
£

Cost or valuation

At 1 January 2024

698,562

1,807,800

8,091

262,830

46,987

2,824,270

Additions

-

207,279

-

27,376

-

234,655

Disposals

-

(237,604)

-

(10,800)

-

(248,404)

At 31 December 2024

698,562

1,777,475

8,091

279,406

46,987

2,810,521

Depreciation

At 1 January 2024

-

470,117

2,721

238,111

14,757

725,706

Charge for the year

-

177,748

549

19,144

5,125

202,566

Eliminated on disposal

-

(109,769)

-

(10,800)

-

(120,569)

At 31 December 2024

-

538,096

3,270

246,455

19,882

807,703

Carrying amount

At 31 December 2024

698,562

1,239,379

4,821

32,951

27,105

2,002,818

At 31 December 2023

698,562

1,337,683

5,370

24,719

32,230

2,098,564

Included within the net book value of land and buildings above is £698,562 (2023 - £698,562) in respect of freehold land and buildings.
 

 

Deeping Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Stocks

2024
£

2023
£

Other inventories

10,500

128,500

6

Debtors

Current

2024
£

2023
£

Trade Debtors

172,869

166,956

Other debtors

21,598

44,843

 

194,467

211,799

 

Deeping Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

25,850

37,713

Trade Creditors

 

10,593

52,391

Taxation and social security

 

249,108

112,989

Accruals and deferred income

 

4,820

4,590

Other creditors

 

891,083

1,079,115

 

1,181,454

1,286,798

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

401,112

477,951

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

30

30

30

30

Ordinary B of £1 each

30

30

30

30

Ordinary C of £1 each

30

30

30

30

Ordinary D of £1 each

5

5

5

5

Ordinary E of £1 each

5

5

5

5

100

100

100

100

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

401,112

477,951

 

Deeping Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

9

Loans and borrowings (continued)

Current loans and borrowings

2024
£

2023
£

Bank borrowings

25,850

37,713

10

Dividends

2024

2023

£

£

 

 

11

Related party transactions

 

Deeping Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

11

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

27,296

27,302