Direct Socks Limited - Accounts to registrar (filleted) - small 18.2

Direct Socks Limited - Accounts to registrar (filleted) - small 18.2

DIRECT SOCKS LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v20.1.5.71 03774115 Board of Directors 1.11.18 31.10.19 31.10.19 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure037741152018-10-31037741152019-10-31037741152018-11-012019-10-31037741152017-10-31037741152017-11-012018-10-31037741152018-10-3103774115ns15:EnglandWales2018-11-012019-10-3103774115ns14:PoundSterling2018-11-012019-10-3103774115ns10:Director12018-11-012019-10-3103774115ns10:PrivateLimitedCompanyLtd2018-11-012019-10-3103774115ns10:SmallEntities2018-11-012019-10-3103774115ns10:AuditExempt-NoAccountantsReport2018-11-012019-10-3103774115ns10:SmallCompaniesRegimeForDirectorsReport2018-11-012019-10-3103774115ns10:SmallCompaniesRegimeForAccounts2018-11-012019-10-3103774115ns10:FullAccounts2018-11-012019-10-3103774115ns10:Director22018-11-012019-10-3103774115ns10:CompanySecretary12018-11-012019-10-3103774115ns10:RegisteredOffice2018-11-012019-10-3103774115ns5:CurrentFinancialInstruments2019-10-3103774115ns5:CurrentFinancialInstruments2018-10-3103774115ns5:ShareCapital2019-10-3103774115ns5:ShareCapital2018-10-3103774115ns5:RetainedEarningsAccumulatedLosses2019-10-3103774115ns5:RetainedEarningsAccumulatedLosses2018-10-3103774115ns5:PlantMachinery2018-10-3103774115ns5:PlantMachinery2018-11-012019-10-3103774115ns5:PlantMachinery2019-10-3103774115ns5:PlantMachinery2018-10-3103774115ns5:CurrentFinancialInstrumentsns5:WithinOneYear2019-10-3103774115ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-10-31
REGISTERED NUMBER: 03774115 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

DIRECT SOCKS LIMITED
DIRECT SOCKS LIMITED (REGISTERED NUMBER: 03774115)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIRECT SOCKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2019







DIRECTORS: Ms T K Petken
Mrs J M Petken





SECRETARY: Mrs J M Petken





REGISTERED OFFICE: Wellington House
273-275 High Street
London Colney
Hertfordshire
AL2 1HA





REGISTERED NUMBER: 03774115 (England and Wales)





ACCOUNTANTS: Newman Morris Limited
Chartered Accountants
Wellington House
273-275 High Street
London Colney
Hertfordshire
AL2 1HA
Page 1
DIRECT SOCKS LIMITED (REGISTERED NUMBER: 03774115)

BALANCE SHEET
31 OCTOBER 2019

2019 2018
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,393 9,856

CURRENT ASSETS
Stocks 10,400 -
Debtors 5 21,595 8,845
Cash at bank 18,310 11,389
50,305 20,234
CREDITORS
Amounts falling due within one year 6 (47,735 ) (24,359 )
NET CURRENT ASSETS/(LIABILITIES) 2,570 (4,125 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
9,963
5,731

PROVISIONS FOR LIABILITIES (1,760 ) (1,760 )
NET ASSETS 8,203 3,971

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 7,203 2,971
8,203 3,971

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 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 notes form part of these financial statements

Page 2
DIRECT SOCKS LIMITED (REGISTERED NUMBER: 03774115)

BALANCE SHEET - continued
31 OCTOBER 2019


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 December 2020 and were signed on its behalf by:





Mrs J M Petken - Director


The notes form part of these financial statements

Page 3
DIRECT SOCKS LIMITED (REGISTERED NUMBER: 03774115)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019

1. STATUTORY INFORMATION

Direct Socks Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information
page.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

Page 4
DIRECT SOCKS LIMITED (REGISTERED NUMBER: 03774115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2019

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2018
and 31 October 2019 30,309
DEPRECIATION
At 1 November 2018 20,453
Charge for year 2,463
At 31 October 2019 22,916
NET BOOK VALUE
At 31 October 2019 7,393
At 31 October 2018 9,856

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 21,595 8,719
Other debtors - 126
21,595 8,845

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 19,108 -
Taxation and social security 16,914 9,310
Other creditors 11,713 15,049
47,735 24,359

Page 5