| DEE KAY KNITWEAR LTD |
| Notes to the Accounts |
| for the year ended 30 April 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
10% per annum on cost |
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Fixtures, fittings, and equipment |
10% per annum on cost |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any trancastion costs, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
32 |
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40 |
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| 3 |
Tangible fixed assets |
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Plant and machinery |
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Fixtures, fittings & equipment |
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Total |
| £ |
£ |
£ |
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Cost |
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At 1 May 2024 |
10,850 |
|
8,468 |
|
19,318 |
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Additions |
2,600 |
|
4,635 |
|
7,235 |
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At 30 April 2025 |
13,450 |
|
13,103 |
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26,553 |
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Depreciation |
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At 1 May 2024 |
1,945 |
|
2,211 |
|
4,156 |
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Charge for the year |
1,345 |
|
1,310 |
|
2,655 |
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At 30 April 2025 |
3,290 |
|
3,521 |
|
6,811 |
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Net book value |
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At 30 April 2025 |
10,160 |
|
9,582 |
|
19,742 |
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At 30 April 2024 |
8,905 |
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6,257 |
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15,162 |
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| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
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Trade debtors |
697,015 |
|
892,920 |
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Prepayments |
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|
14,009 |
|
13,836 |
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711,024 |
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906,756 |
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| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
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Trade creditors |
263,847 |
|
416,550 |
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Taxation and social security costs |
153,267 |
|
214,166 |
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Accrued expenses |
29,016 |
|
37,362 |
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Other creditors |
16,954 |
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11,355 |
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463,084 |
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679,433 |
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| 6 |
Controlling party |
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During the year ended 30 April 2025, Mr A Bagga controlled 100% of the share capital of the company. |
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| 7 |
Other information |
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DEE KAY KNITWEAR LTD is a private company limited by shares and incorporated in England. Its registered office is: |
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128A Evington Road |
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Leicester |
|
LE2 1HL |