| REGISTERED NUMBER: |
| D&D CORPORATION LTD |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| REGISTERED NUMBER: |
| D&D CORPORATION LTD |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| D&D CORPORATION LTD (REGISTERED NUMBER: 04509398) |
| Contents of the Financial Statements |
| for the year ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| D&D CORPORATION LTD |
| Company Information |
| for the year ended 31 August 2024 |
| Director: |
| Registered office: |
| Registered number: |
| Accountants: |
| New Derwent House |
| 69-73 Theobalds Road |
| London |
| WC1X 8TA |
| D&D CORPORATION LTD (REGISTERED NUMBER: 04509398) |
| Balance Sheet |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities | ( |
) | ( |
) |
| Creditors |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| Net liabilities | ( |
) | ( |
) |
| Capital and reserves |
| Called up share capital | 8 |
| Retained earnings | 9 | ( |
) | ( |
) |
| Shareholders' funds | ( |
) | ( |
) |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| D&D CORPORATION LTD (REGISTERED NUMBER: 04509398) |
| Notes to the Financial Statements |
| for the year ended 31 August 2024 |
| 1. | Statutory information |
| D&D Corporation Ltd is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| At the balance sheet date the company report a deficit of £172,731 (2023 - £44,967). The company is reliant upon the continued support of its Director, who has introduced funds into the company and confirmed his continued support of the company. The Director therefore considers it appropriate to prepare the accounts on a going concern basis. |
| Significant judgements and estimates |
| Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. This disclosure excludes uncertainty over future events and judgement in respect of measuring financial instruments. |
| Areas in the accounts which include judgements and estimates include: |
| Stock provision: The company's stock is reviewed for impairment regularly and whilst every effort is made to identify slow moving or obsolete items, there will always be an element of estimation uncertainty attached to this. |
| Bad debt provision: There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable. |
| Depreciation: The company's tangible assets are depreciated on a straight line basis over their useful economic lives. Management reviews the appropriateness of assets' useful economic lives at least annually and any changes could affect prospective depreciation rates and asset carrying values. |
| Turnover |
| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Exceptional Items |
| During the current financial year, a historical accounting adjustment was made to correct an error in the recognition of sales revenue. The adjustment resulted in a reduction in reported turnover for the year. |
| The error arose due to a misstatement in the accounting software used in prior periods, which led to certain sales being overstated. The correction has been reflected in the current year's figures. Management have reviewed the underlying systems and controls to ensure the accuracy of future reporting. |
| D&D CORPORATION LTD (REGISTERED NUMBER: 04509398) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2024 |
| 2. | Accounting policies - continued |
| Tangible fixed assets |
| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. |
| Depreciation is provided on the following basis: |
| Motor vehicles - 15% Reducing balance |
| Office equipment - 25% straight line |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Tangible fixed assets |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| Cost |
| At 1 September 2023 |
| and 31 August 2024 |
| Depreciation |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| Net book value |
| At 31 August 2024 |
| At 31 August 2023 |
| D&D CORPORATION LTD (REGISTERED NUMBER: 04509398) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2024 |
| 5. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| In 2020 a bounce back loan was obtained with the support of the Government scheme. A rate of 2.5% interest is charged on this loan. |
| 7. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| In 2020 a bounce back loan was obtained with the support of the Government scheme. A rate of 2.5% interest is charged on this loan. |
| 8. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 9. | Reserves |
| Retained |
| earnings |
| £ |
| At 1 September 2023 | ( |
) |
| Deficit for the year | ( |
) |
| At 31 August 2024 | ( |
) |
| 10. | Director's advances, credits and guarantees |
| Included within debtors at the year-end were amounts of £234,125 (2023 £433,925) due from the director. The movement in the year being repayments made to the company. |
| 11. | Related party disclosures |
| Included in creditors at the year end is an amount of £513,410 (2023 - £164,494) owed to a company in which the director is also a director. There is a further trading balance of £151,801 (2023 £19,428) for this company included in trade debtors. |