Dual-Stream Limited - Accounts to registrar (filleted) - small 18.2
Dual-Stream Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2020 |
| FOR |
| DUAL-STREAM LIMITED |
| DUAL-STREAM LIMITED (REGISTERED NUMBER: 08625648) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31st July 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| DUAL-STREAM LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31st July 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1 City Road East |
| Manchester |
| M15 4PN |
| DUAL-STREAM LIMITED (REGISTERED NUMBER: 08625648) |
| BALANCE SHEET |
| 31st July 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| 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. |
| DUAL-STREAM LIMITED (REGISTERED NUMBER: 08625648) |
| BALANCE SHEET - continued |
| 31st July 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| DUAL-STREAM LIMITED (REGISTERED NUMBER: 08625648) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31st July 2020 |
| 1. | STATUTORY INFORMATION |
| Dual-Stream Limited is a private company limited by share capital, incorporated in England and Wales, registration number 08625648. The address of the registered office and principal trading place is Unit 1.10/11 Hollinwood Business Centre, Albert Street, Oldham, England, OL8 3QL. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of consideration received or receivable for designing and installing theft prevention systems, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
| - the amount of turnover can be measured reliably; |
| - it is probable that the Company will receive the consideration due under the contract; |
| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
| - the costs incurred and the costs to complete the contract can be measured reliably. |
| Specifically, turnover from the sale of goods is recognised when goods are delivered and legal title is passed |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
| Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods: |
| Computer Equipment | - | 33% on cost |
| At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
| If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
| Government grants |
| Government grants are recognised on the accrual model and are measured at fair value of the asset receivable. Grants are classified as relating either to other income or to assets. Grants related to other income are recognised in profit or loss over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. |
| DUAL-STREAM LIMITED (REGISTERED NUMBER: 08625648) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st July 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| 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. |
| Employee benefit trust |
| Last year the company formed an employee benefit trust, the contributions to the trust were expensed through the profit and loss account; this year there have been no contributions made. Dual-stream Limited are exempt from preparing consolidated accounts under section 9.34, as the company will no longer receive any benefits from the assets held in the trust and they have no control over those assets. |
| Operating leases |
| Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Trade and other debtors |
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
| Trade and other creditors |
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash at bank and in hand. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| DUAL-STREAM LIMITED (REGISTERED NUMBER: 08625648) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st July 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st August 2019 |
| Disposals | ( |
) |
| At 31st July 2020 |
| DEPRECIATION |
| At 1st August 2019 |
| and 31st July 2020 |
| NET BOOK VALUE |
| At 31st July 2020 |
| At 31st July 2019 |
| 5. | STOCKS |
| 2020 | 2019 |
| £ | £ |
| Work-in-progress |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Tax |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 24,935 | 43,198 |
| Other creditors |
| Accruals and deferred income |
| DUAL-STREAM LIMITED (REGISTERED NUMBER: 08625648) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st July 2020 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2020 | 2019 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
Number: |
Class: |
Nominal Value: |
31.07.20 |
31.07.19 |
| 70 | A Ordinary | £1 | 70 | 70 |
| 30 | B Ordinary | £1 | 30 | 30 |
| 32 | C Ordinary | £1 | 32 | 32 |
| 50 | D Ordinary | £1 | 50 | 50 |
| 82 | E Ordinary | £1 | 82 | 82 |
| 360 | F Ordinary | £0.10 | 36 | 36 |
| 300 | 300 |
| 10. | RELATED PARTY DISCLOSURES |
| As at the year end, company was owed £258,316 (2019 - £304,711) from another company under common control. |