General Information
D&D Stores Ltd is a private company, limited by shares, registered in England and Wales, registration number 10548620, registration address Londis, Bossiney Road, Tintagel, Cornwall, PL34 0AJ.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
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)
Going concern basis
The directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted by the end of the reporting period. Deferred tax is recognised on all 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. 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 reporting period.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Fixtures and Fittings |
25% Reducing Balance
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
|
| 2. |
Average number of employees
Average number of employees during the year was 21 (2024 : 20).
|
| 3. |
Intangible fixed assets
| Cost |
Goodwill |
|
Total |
| |
£ |
|
£ |
| At 01 December 2024 |
70,001 |
|
70,001 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 30 November 2025 |
70,001 |
|
70,001 |
| Amortisation |
| At 01 December 2024 |
14,000 |
|
14,000 |
| Charge for year |
7,000 |
|
7,000 |
| On disposals |
- |
|
- |
| At 30 November 2025 |
21,000 |
|
21,000 |
| Net book values |
| At 30 November 2025 |
49,001 |
|
49,001 |
| At 30 November 2024 |
56,001 |
|
56,001 |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
| At 01 December 2024 |
96,113 |
|
96,113 |
| Additions |
1,617 |
|
1,617 |
| Disposals |
- |
|
- |
| At 30 November 2025 |
97,730 |
|
97,730 |
| Depreciation |
| At 01 December 2024 |
67,374 |
|
67,374 |
| Charge for year |
7,344 |
|
7,344 |
| On disposals |
- |
|
- |
| At 30 November 2025 |
74,718 |
|
74,718 |
| Net book values |
| Closing balance as at 30 November 2025 |
23,012 |
|
23,012 |
| Opening balance as at 01 December 2024 |
28,739 |
|
28,739 |
|
| 5. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
94,500 |
|
84,500 |
|
94,500 |
|
84,500 |
|
| 6. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Other Debtors |
16,992 |
|
43,184 |
|
16,992 |
|
43,184 |
|
| 7. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
50,629 |
|
52,081 |
| Bank Loans & Overdrafts |
5,000 |
|
10,000 |
| Taxation and Social Security |
16,617 |
|
33,776 |
| Other Creditors |
15,447 |
|
13,874 |
|
87,693 |
|
109,731 |
|
| 8. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts |
0 |
|
5,000 |
|
0 |
|
5,000 |
|
| 9. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
4,372 |
|
5,460 |
|
4,372 |
|
5,460 |
|
| 10. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
100
Ordinary shares of £1.00 each |
100 |
|
100 |
|
100 |
|
100 |
|
|
Director's Loan
At 30 November 2025, the Directors Loan Account of £2,690 (2024 - £3,441) is unsecured, repayable on demand and currently interest free. During the period the directors incurred in the following transactions :
| Director Loan Account |
|
Balance B/F
£ |
|
Advances
£ |
|
Credits
£ |
|
Balance C/F
£ |
| Director Loan |
|
3,441 |
|
(25,751) |
|
25,000 |
|
2,690 |
|
|
3,441 |
|
(25,751) |
|
25,000 |
|
2,690 |
|
| 12. |
Control
The company was under the control of the director throughout the current and previous year.
|
2
|