DIFRENT LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09227500 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

DIFRENT LTD

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

31,619

30,013

Investments

5

-

290

31,619

30,303

CURRENT ASSETS

Debtors

6

1,698,109

977,030

Cash at bank and in hand

426,862

609,836

2,124,971

1,586,866

CREDITORS

Amounts falling due within one year

7

911,568

1,003,501

NET CURRENT ASSETS

1,213,403

583,365

TOTAL ASSETS LESS CURRENT LIABILITIES

1,245,022

613,668

PROVISIONS FOR LIABILITIES

10

6,008

5,702

NET ASSETS

1,239,014

607,966

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

1,238,814

607,766

SHAREHOLDERS' FUNDS

1,239,014

607,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 June 2020 and were signed on its behalf by:

S S Dhillon - Director

1.	STATUTORY INFORMATION

DIFRENT LTD is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address are as below:

Registered number:

09227500

Registered office:

85 Great Portland Street

London

W1W 7LT

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery - 15% reducing balance

Computer equipment - 20% reducing balance

The depreciation methods for plant and machinery and computer equipment have been reviewed and changed

from the straight line basis to the reducing balance basis at the balance sheet date. The directors consider this

change better reflects the useful life of the assets. The depreciation is revised prospectively to reflect the new

expectations.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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 27 (2019 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2019

6,093

34,312

40,405

Additions

7,483

770

8,253

At 31 March 2020

13,576

35,082

48,658

DEPRECIATION

At 1 April 2019

353

10,039

10,392

Charge for year

1,664

4,983

6,647

At 31 March 2020

2,017

15,022

17,039

NET BOOK VALUE

At 31 March 2020

11,559

20,060

31,619

At 31 March 2019

5,740

24,273

30,013

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2019

290

Disposals

(290

)

At 31 March 2020

-

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

290

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

1,330,021

758,596

Other debtors

368,088

218,434

1,698,109

977,030

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

117,828

216,994

Taxation and social security

37,548

143,776

Other creditors

756,192

642,731

911,568

1,003,501

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.20

31.3.19

£

£

Within one year

7,920

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Factoring

587,785

545,323

10.	PROVISIONS FOR LIABILITIES

31.3.20

31.3.19

£

£

Deferred tax

6,008

5,702

Deferred

tax

£

Balance at 1 April 2019

5,702

Provided during year

306

Balance at 31 March 2020

6,008

11.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme for the directors and all employees. The assets of

the scheme are held separately from those of the company in an independently administered fund. At the balance

sheet date, unpaid contributions of £13,531 (2019: £6,566) were due to the fund. They are included in other

creditors.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2020 and

31 March 2019:

31.3.20

31.3.19

£

£

S S Dhillon

Balance outstanding at start of year

89,573

75,487

Amounts advanced

98,103

105,159

Amounts repaid

(146,427

)

(91,073

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

41,249

89,573

Ms R Murphy

Balance outstanding at start of year

35,370

-

Amounts advanced

325

35,370

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

35,695

35,370

The loans are interest free and have no fixed repayment date. No amounts were written off or waived during the

year.

13.	RELATED PARTY DISCLOSURES

Amounts owed by directors are disclosed in note 14.

During the year the company received services from businesses controlled by the directors. The total of £70,000

(2019: £nil) is included in administrative expenses. No balances were outstanding at the year end date.

During the year the company incurred direct costs from businesses controlled by the directors. The total of

£74,284 (2019: £17,000) is included in cost of sales. No balances were outstanding at the year end date (2019:

£19,800).