1.
General Information
Dappleflair Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04386881
. The registered office is B02 Leyton Industrial Village, Argall Avenue, London, E10 7QP.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
2.
Statement of Compliance
The financial statements have been prepared in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
3.
Accounting Policies
3.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention.
3.2.
Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
3.3.
Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3.4.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.
3.5.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of 10 years.
3.6.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
| Computer Equipment |
|
3.7.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
Dappleflair Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
3.8.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3.9.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3.10.
Taxation
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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3.11.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3.12.
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.
3.13.
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.
4.
Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2024: 7)
Dappleflair Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
5.
Intangible Assets
| Goodwill | Other | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 April 2024 |
|
|
|
| As at 31 March 2025 |
|
|
|
| Amortisation | |||
| As at 1 April 2024 |
|
|
|
| Provided during the period |
|
|
|
| As at 31 March 2025 |
|
|
|
| Net Book Value | |||
| As at 31 March 2025 |
|
|
|
| As at 1 April 2024 |
|
|
|
6.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 April 2024 |
|
|
|
|
|
| Additions |
|
|
|
|
|
| Disposals |
|
( |
|
|
( |
| As at 31 March 2025 |
|
|
|
|
|
| Depreciation | |||||
| As at 1 April 2024 |
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| Disposals |
|
( |
|
|
( |
| As at 31 March 2025 |
|
|
|
|
|
| Net Book Value | |||||
| As at 31 March 2025 |
|
|
|
|
|
| As at 1 April 2024 |
|
|
|
|
|
7.
Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Materials |
|
|
|
Dappleflair Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
8.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Amounts owed by participating interests | 732 | - | |
| Other debtors | 28,843 | 50,349 | |
|
|
|
||
9.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Amounts owed to participating interests |
|
|
|
| Other creditors | 42,798 | 33,769 | |
| Taxation and social security |
|
|
|
|
|
|
||
10.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Bank loans |
|
|
|
|
|
|
||
11.
Loans
An analysis of the maturity of loans is given below:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due within one year or on demand: | |||
| Bank loans |
|
|
|
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due between one and five years: | |||
| Bank loans |
|
|
|
Dappleflair Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
12.
Obligations Under Finance Leases and Hire Purchase
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
|
|
|
||
|
|
|
||
14.
Related Party Disclosures
Transactions with directors
All directors remuneration was concluded under normal market conditions.
Summary of transactions with other related parties
Pirtek (Watford) Ltd, AW Hydraulic Services Ltd, Macbeth 12 Ltd and Sageglen Ltd.
The companies listed abive were under the common control of Mr A and Mrs A Williams.
Dappleflair Ltd had provided loans to Pirtek (Watford) Ltd and AW Hydraulic Services Ltd. These have now been repaid in full. They have also received loans from Macbeth 12 Ltd and Sageglen Ltd.
All sales and purchases made with the other related parties were concluded under normal market conditions.
|
Loans to related parties
|
Other related parties
|
Total
|
|
|
2025
|
£
|
£
|
|
|
At start of period
|
-
|
-
|
|
|
Advanced
|
732
|
732
|
|
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
|
||
|
At end of period
|
732
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
<line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
732
|
|
Other related parties
|
Total
|
||
|
2024
|
£
|
£
|
|
|
At start of period
|
72,248
|
72,248
|
|
|
Repaid
|
(72,248)
|
(72,248)
|
|
|
|
|
||
|
At end of period
|
-
|
-
|
Terms of loans to related parties
There are no terms attached to the loans to entities with joint control or significant influence and no interest charged. The loans was repaid in full during the year.
Dappleflair Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
|
Loans from related parties
|
Other related parties
|
Total
|
|
|
2025
|
£
|
£
|
|
|
At start of period
|
139,277
|
139,277
|
|
|
|
|
||
|
At end of period
|
139,277
|
139,277
|
|
Other related parties
|
Total
|
||
|
2024
|
£
|
£
|
|
|
At start of period
|
89,277
|
89,277
|
|
|
Advanced
|
50,000
|
50,000
|
|
|
|
|
||
|
At end of period
|
139,277
|
139,277
|
Terms of loans from related parties
There are no terms attached to the loans to entities with joint control or significant influence and no interest charged. The loans are repayable on demand.