REGISTERED NUMBER: 02638228 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Direct Business Systems Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

G A Hall

SECRETARY:

I Hall

REGISTERED OFFICE:

320E Mayoral Way

Team Valley Trading Estate

Gateshead

Tyne & Wear

NE11 0RT

REGISTERED NUMBER:

02638228 (England and Wales)

ACCOUNTANTS:

TTR Barnes

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

BANKERS:

Lloyds TSB Bank plc

41 Front Street

Whickham

Newcastle upon Tyne

Tyne and Wear

NE16 4ED

FIXED ASSETS

Tangible assets

4

141,693

143,372

CURRENT ASSETS

Stocks

31,483

29,682

Debtors

5

73,445

92,647

Cash at bank

18,436

8,170

123,364

130,499

CREDITORS

Amounts falling due within one year

6

305,727

308,290

NET CURRENT LIABILITIES

(182,363

)

(177,791

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(40,670

)

(34,419

)

CREDITORS

Amounts falling due after more than one year

7

(33,417

)

(76,417

)

PROVISIONS FOR LIABILITIES

(22,107

)

(19,222

)

NET LIABILITIES

(96,194

)

(130,058

)

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Revaluation reserve

9

80,379

80,379

Retained earnings

(206,573

)

(240,437

)

SHAREHOLDERS' FUNDS

(96,194

)

(130,058

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 April 2025 and were signed by:

G A Hall - Director

1.	STATUTORY INFORMATION

Direct Business Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the director considers to be appropriate.

Turnover

Turnover represents net sales of goods,excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Long leasehold

-

Straight line over 115 years

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where net realisable value is less than cost.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

150,000

27,708

16,263

193,971

DEPRECIATION

At 1 January 2024

9,129

26,019

15,451

50,599

Charge for year

1,304

253

122

1,679

At 31 December 2024

10,433

26,272

15,573

52,278

NET BOOK VALUE

At 31 December 2024

139,567

1,436

690

141,693

At 31 December 2023

140,871

1,689

812

143,372

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

Valuation in 2016

88,208

27,708

16,263

132,179

Cost

61,792

-

-

61,792

150,000

27,708

16,263

193,971

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

25,046

76,244

Other debtors

45,276

4,280

70,322

80,524

2024

2023

£

£

Amounts falling due after more than one year:

Other debtors

3,123

12,123

Aggregate amounts

73,445

92,647

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

43,000

43,000

Trade creditors

125,913

140,881

Taxation and social security

131,339

111,396

Other creditors

5,475

13,013

305,727

308,290

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

33,417

76,417

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

76,417

119,417

Bank borrowings are secured by fixed and floating charges over the assets of the company.

Finance leases are secured on the assets to which they relate.

9.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

80,379

10.	DIRECTORS' AND SHAREHOLDERS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director and shareholder subsisted during the years ended 31 December 2024 and 31 December 2023.

2024

2023

£

£

Balance outstanding at start of the year

997

12,491

Amounts advanced

17,548

24,701

Amounts repaid

-

(36,195

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of the year

18,545

997

11.

CONTROL

The controlling party is Direct Business Holdings Ltd, a company registered in England & Wales, due to its interest in the share capital of the company.

The ultimate controlling party is G A Hall, Director, by virtue of his interest in the share capital of the parent company.