Dejure Limited - Period Ending 2020-04-30
Dejure Limited - Period Ending 2020-04-30
Registration number:
Dejure Limited
for the Year Ended 30 April 2020
Dejure Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Dejure Limited
Company Information
Directors |
Mrs S C Patel Mr C J Patel |
Company secretary |
Mr C J Patel |
Registered office |
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Accountants |
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Dejure Limited
(Registration number: 03157880)
Balance Sheet as at 30 April 2020
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2020 |
2019 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Dejure Limited
(Registration number: 03157880)
Balance Sheet as at 30 April 2020
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr C J Patel
Company secretary and director
Dejure Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling, which is the functional currency of the company.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
i. The amount of revenue can be reliably measured;
ii. it is probable that future economic benefits will flow to the entity;
iii. and specific criteria have been met for each of the company's activities.
Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “Other operating income” within profit or loss in the same period as the related expenditure. The deferred element of grants, if any, is included in creditors as deferred income.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Dejure Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
2 |
Accounting policies (continued) |
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold Property |
Over the term of lease |
Plant & Machinery |
15% on reducing balance |
Fixtures & Fittings |
15% on reducing balance |
Goodwill
Positive purchased goodwill arising on acquisitions is capitalised as an asset on the balance sheet and amortised over its estimated useful economic life. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
The directors are of the view that the useful economic life of purchased goodwill of 20 years used in previous years is still valid given the continuing operation and having considered the market and economic conditions.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Purchased Goodwill |
Amortised Over 20 Years |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Dejure Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
2 |
Accounting policies (continued) |
Defined contribution pension obligation
The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 May 2019 |
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At 30 April 2020 |
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Amortisation |
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At 1 May 2019 |
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Amortisation charge |
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At 30 April 2020 |
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Carrying amount |
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At 30 April 2020 |
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At 30 April 2019 |
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Dejure Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 May 2019 |
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Additions |
- |
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Disposals |
- |
( |
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At 30 April 2020 |
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Depreciation |
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At 1 May 2019 |
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Charge for the year |
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Eliminated on disposal |
- |
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At 30 April 2020 |
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Carrying amount |
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At 30 April 2020 |
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At 30 April 2019 |
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Debtors |
2020 |
2019 |
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Trade debtors |
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Other debtors |
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Prepayments and accrued income |
67,025 |
45,925 |
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Dejure Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2019 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
34,986 |
1,238 |
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Other taxes and social security |
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Directors' current accounts |
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Other creditors |
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Accruals and deferred income |
8,137 |
7,128 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2020 |
2019 |
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Non-current loans and borrowings |
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Bank borrowings |
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2020 |
2019 |
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Current loans and borrowings |
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Bank borrowings |
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The bank loan is secured by the following:
1. A debenture dated 16 July 2018.
2. A first legal charge over one of the leasehold properties which the company trades from.
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Dejure Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
2020 |
2019 |
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Remuneration |
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Contributions paid to money purchase schemes |
- |
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2,815 |
116,234 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
2020 |
2019 |
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Accruing benefits under money purchase pension scheme |
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Other transactions with directors |
The bank loan is secured by a debenture from the company, first legal charge over the company's leasehold properties and also assignment over life policy of the director, Mr C J Patel.
At the balance sheet date the amount due to Mr C J patel & S C patel was £49,248 (2019 - £12,490).