The Datek Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06807654 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2020

for

The Datek Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A P Higgs

SECRETARY:

Mrs R G Redding

REGISTERED OFFICE:

895 Plymouth Road

Slough

Berkshire

SL1 4LP

REGISTERED NUMBER:

06807654 (England and Wales)

ACCOUNTANTS:

Sumner & Moore Limited

The Studio

377 - 399 London Road

Camberley

Surrey

GU15 3HL

FIXED ASSETS

Tangible assets

4

163,281

118,477

CURRENT ASSETS

Stocks

60,515

51,580

Debtors

5

1,351,402

1,091,129

Cash at bank and in hand

19,833

167,100

1,431,750

1,309,809

CREDITORS

Amounts falling due within one year

6

960,828

770,841

NET CURRENT ASSETS

470,922

538,968

TOTAL ASSETS LESS CURRENT LIABILITIES

634,203

657,445

CREDITORS

Amounts falling due after more than one year

7

(277,002

)

(233,595

)

PROVISIONS FOR LIABILITIES

(25,387

)

(19,121

)

NET ASSETS

331,814

404,729

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

331,715

404,630

331,814

404,729

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

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

The director acknowledges his 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 director and authorised for issue on 14 May 2020 and were signed by:

A P Higgs - Director

1.	STATUTORY INFORMATION

The Datek Group 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on cost and 20% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 14 (2019 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2019

330,935

Additions

98,428

At 31 January 2020

429,363

DEPRECIATION

At 1 February 2019

212,458

Charge for year

53,624

At 31 January 2020

266,082

NET BOOK VALUE

At 31 January 2020

163,281

At 31 January 2019

118,477

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 February 2019

109,445

Additions

85,400

At 31 January 2020

194,845

DEPRECIATION

At 1 February 2019

67,243

Charge for year

34,357

At 31 January 2020

101,600

NET BOOK VALUE

At 31 January 2020

93,245

At 31 January 2019

42,202

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade debtors

765,314

575,073

Other debtors

586,088

516,056

1,351,402

1,091,129

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Hire purchase contracts

28,973

15,254

Trade creditors

526,153

368,398

Taxation and social security

312,769

329,007

Other creditors

92,933

58,182

960,828

770,841

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.20

31.1.19

£

£

Hire purchase contracts

104,813

63,255

Other creditors

172,189

170,340

277,002

233,595

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.20

31.1.19

£

£

Hire purchase contracts

133,786

78,509

Factoring Account

223,542

-

357,328

78,509

Hire purchase contracts are secured on the asset to which they relate. The factoring account is secured by a floating charge over all company assets.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances a director subsisted during the years ended 31 January 2020 and 31 January 2019:

31.1.20

31.1.19

£

£

A P Higgs

Balance outstanding at start of year

289,066

335,160

Amounts advanced

67,456

-

Amounts repaid

-

(46,094

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

356,522

289,066