Company Registration No. 03752556 (England and Wales)
Dharam Knitwear Limited
Unaudited accounts
for the year ended 31 August 2024
Dharam Knitwear Limited
Unaudited accounts
Contents
Dharam Knitwear Limited
Company Information
for the year ended 31 August 2024
Company Number
03752556 (England and Wales)
Registered Office
40 Portishead Road
Leicester
LE5 0JL
United Kingdom
Dharam Knitwear Limited
Statement of financial position
as at 31 August 2024
Tangible assets
201,154
218,973
Inventories
175,330
161,678
Cash at bank and in hand
(58)
-
Creditors: amounts falling due within one year
(372,262)
(346,014)
Net current liabilities
(111,184)
(91,507)
Total assets less current liabilities
89,970
127,466
Creditors: amounts falling due after more than one year
(108,521)
(128,293)
Provisions for liabilities
Deferred tax
(12,162)
(15,482)
Net liabilities
(30,713)
(16,309)
Called up share capital
1,000
1,000
Profit and loss account
(31,713)
(17,309)
Shareholders' funds
(30,713)
(16,309)
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 June 2025 and were signed on its behalf by
Daljit Singh
Director
Company Registration No. 03752556
Dharam Knitwear Limited
Notes to the Accounts
for the year ended 31 August 2024
Dharam Knitwear Limited is a private company, limited by shares, registered in England and Wales, registration number 03752556. The registered office is 40 Portishead Road, , Leicester, LE5 0JL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Reducing Balance Basis
Motor vehicles
25% Reducing Balance Basis
Fixtures & fittings
10% Reducing Balance Basis
Dharam Knitwear Limited
Notes to the Accounts
for the year ended 31 August 2024
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement
of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial
statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally
recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary
differences to the extent that it is probable that taxable profits will be available against which those deductible timing
differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is
settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of
the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which
the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in
other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other
comprehensive income or directly in equity respectively.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Total
At 1 September 2023
485,399
At 1 September 2023
266,426
Charge for the year
17,819
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
Dharam Knitwear Limited
Notes to the Accounts
for the year ended 31 August 2024
6
Transactions with related parties
During the year the director and his wife provided a loan to the company in the sum of £156693 (2023: £138483). The loan is interest-free and payable on demand. At the balance sheet date, an amount of £100211 (2023: £109925) was outstanding.
Rent of £6,000 (2023–£6,000) was paid for premises owned by the director and his wife.
During the year, a salary of £7800 (2023–£15122) was paid to the director of the company.
7
Average number of employees
During the year the average number of employees was 15 (2023: 15).