Dyaco UK Limited - Accounts to registrar (filleted) - small 18.2
Dyaco UK Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2020 |
| for |
| Dyaco UK Limited |
| Dyaco UK Limited (Registered number: 11232048) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Dyaco UK Limited |
| Company Information |
| for the Year Ended 31 December 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants & Statutory Auditors |
| 2 Copperhouse Court |
| Caldecotte Business Park |
| Milton Keynes |
| Buckinghamshire |
| MK7 8NL |
| Dyaco UK Limited (Registered number: 11232048) |
| Balance Sheet |
| 31 December 2020 |
| 31.12.20 | 31.12.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| 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 |
| Dyaco UK Limited (Registered number: 11232048) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2020 |
| 1. | STATUTORY INFORMATION |
| Dyaco UK Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Plant and machinery etc | - |
| 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 |
| 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. |
| Dyaco UK Limited (Registered number: 11232048) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| As at 31st December 2020, the company recorded net liabilities of (£2,033,042) and incurred a net loss of (£959,781) during the year . The financial statements have been prepared on going concern basis as the ultimate holding company Dyaco International Inc.will continue to provide such financial support as is necessary to the company to enable the Company to meet it liabilities as and when they fall due. |
| On 11th March 2020, the World Health Organisation raised the public health emergency caused by the outbreak of COVID-19 to an international pandemic. The rapid evolution of events, nationally and internationally, represents an unprecedented health crisis, which will impact the macroeconomic environment and the evolution of business. The Group operates in the UK and internationally, which is affected by the pandemic. The business is not significantly impacted by government restrictions on its own working practices or the operations of its customers. Current performance does not indicate a significant adverse effect that would have a detrimental impact on the business's revenues, profits and cash flows. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2020 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2020 |
| DEPRECIATION |
| At 1 January 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.20 | 31.12.19 |
| £ | £ |
| Trade debtors |
| Advance payment to suppliers | 12,304 | 123,099 |
| Other debtors |
| VAT |
| Prepayments and accrued income |
| Dyaco UK Limited (Registered number: 11232048) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.20 | 31.12.19 |
| £ | £ |
| Trade creditors |
| Advance payment from customers | 86,409 | - |
| Amounts owed to group undertakings |
| Social security and other taxes |
| Pension Control |
| Accruals & deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.20 | 31.12.19 |
| £ | £ |
| Amounts owed to group undertakings |
| Included in the Amount owed to group undertakings £2.5m of 5 year fixed interest loan by the group. Interest is charged at 2.62% per annum. |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.12.20 | 31.12.19 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | RELATED PARTY DISCLOSURES |
| The immediate and ultimate parent undertaking and controlling party is Dyaco International Inc. which prepares group financial statements. Dyaco International Inc is registered company of Taiwan address 12F, No. 111, Song Jiang Road Chung-Shan District Taipei, 104 Taiwan. |
| All the intercompany transactions in the year are carried out under normal course of business. As at 31st December 2020 the company owed £4,722,188 (2019- £3,474,420) to Dyaco International Inc. |
| 11. | ULTIMATE CONTROLLING PARTY |
| Dyaco International Inc owns 100% of the issued share capital of Dyaco UK Limited, and as a result have ultimate control over the company. |