D3 Office Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03597932 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st December 2021

for

D3 Office Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R A Denley

M J Shaw

Mrs J S Denley

Mrs C Shaw

SECRETARY:

R A Denley

REGISTERED OFFICE:

Stratsource House

Malmo Road

Sutton Fields Industrial Estate

Hull

East Yorkshire

HU7 0YF

REGISTERED NUMBER:

03597932 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Intangible assets

4

52,052

80,011

Tangible assets

5

336,425

316,054

388,477

396,065

CURRENT ASSETS

Stocks

511,866

391,056

Debtors

6

1,899,126

1,454,155

Cash at bank and in hand

451,172

313,149

2,862,164

2,158,360

CREDITORS

Amounts falling due within one year

7

1,784,547

1,195,941

NET CURRENT ASSETS

1,077,617

962,419

TOTAL ASSETS LESS CURRENT LIABILITIES

1,466,094

1,358,484

CREDITORS

Amounts falling due after more than one year

8

(218,020

)

(277,021

)

PROVISIONS FOR LIABILITIES

(53,519

)

(51,414

)

ACCRUALS AND DEFERRED INCOME

(23,144

)

(20,444

)

NET ASSETS

1,171,411

1,009,605

CAPITAL AND RESERVES

Called up share capital

60,000

60,000

Retained earnings

1,111,411

949,605

SHAREHOLDERS' FUNDS

1,171,411

1,009,605

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th August 2022 and were signed on its behalf by:

R A Denley - Director

M J Shaw - Director

1.	STATUTORY INFORMATION

D3 Office 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 the provisions of Section 1a "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Turnover from the sale of office equipment is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the despatch of the goods.

Goodwill

Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is 5 years. Provision is made for any impairment.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Equipment, fixtures & fittings

- 10% on cost

Motor vehicles

- 25% on cost

Computer equipment

- 33% on cost

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow moving stock where appropriate.

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.

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

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2020 - 60 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2021

and 31st December 2021

317,653

AMORTISATION

At 1st January 2021

237,642

Charge for year

27,959

At 31st December 2021

265,601

NET BOOK VALUE

At 31st December 2021

52,052

At 31st December 2020

80,011

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st January 2021

375,829

124,696

62,910

563,435

Additions

63,316

30,200

-

93,516

Disposals

(2,100

)

(15,945

)

-

(18,045

)

At 31st December 2021

437,045

138,951

62,910

638,906

DEPRECIATION

At 1st January 2021

108,755

90,710

47,916

247,381

Charge for year

39,971

17,418

9,125

66,514

Eliminated on disposal

(1,400

)

(10,014

)

-

(11,414

)

At 31st December 2021

147,326

98,114

57,041

302,481

NET BOOK VALUE

At 31st December 2021

289,719

40,837

5,869

336,425

At 31st December 2020

267,074

33,986

14,994

316,054

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

1,498,568

1,072,718

Amounts owed by group undertakings

376,385

376,385

Other debtors

24,173

5,052

1,899,126

1,454,155

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

50,000

34,123

Hire purchase contracts

46,638

40,647

Trade creditors

859,211

619,767

Taxation and social security

264,604

351,973

Other creditors

564,094

149,431

1,784,547

1,195,941

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

183,333

229,167

Hire purchase contracts

34,687

47,854

218,020

277,021

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

233,333

263,290

Hire purchase contracts

81,325

88,501

Factoring account

475,367

38,821

790,025

390,612

The hire purchase creditors are secured on the assets concerned. The factoring creditor is secured on the assets of the company.The bank loan is secured on the assets concerned.

10.	OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £551,528 (2020: £144,452) of which £152,672 (2020: £70,333) falls due for payment within one year.