Daziya Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06429345 (England and Wales)

DAZIYA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2020

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Mr R Sundavadra

Mrs R Sundavadra

SECRETARY:

Mr R Sundavadra

REGISTERED OFFICE:

3 Princes Court

Royal Way

Loughborough

Leicestershire

LE11 5XR

BUSINESS ADDRESS:

11 Bellevue Terrace

Gilesgate

Durham

DH1 2HR

REGISTERED NUMBER:

06429345 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Princes Court,

Royal Way

Loughborough

Leicestershire

LE11 5XR

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

20,637

25,659

20,637

25,659

CURRENT ASSETS

Inventories

76,803

66,607

Debtors

6

17,780

8,867

Cash at bank and in hand

99,605

33,120

194,188

108,594

CREDITORS

Amounts falling due within one year

7

77,336

60,859

NET CURRENT ASSETS

116,852

47,735

TOTAL ASSETS LESS CURRENT LIABILITIES

137,489

73,394

PROVISIONS FOR LIABILITIES

3,921

4,437

NET ASSETS

133,568

68,957

CAPITAL AND RESERVES

Called up share capital

8

50

50

Retained earnings

133,518

68,907

SHAREHOLDERS' FUNDS

133,568

68,957

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 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 Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 26 August 2021 and were signed on its behalf by:

Mr R Sundavadra - Director

1.	STATUTORY INFORMATION

Daziya Limited is a private company, limited by shares, registered in England and Wales. The address of the registered office is given in the company information on page one of these financial statements.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

The financial statements cover the individual entity.

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.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, was amortised evenly over its estimated useful life of ten years.

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.

Property, plant & equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings Leasehold 15% Straight Line Basis

Fixtures, fittings and equipment 15% Reducing Balance Basis

Government grants

Government grants are recognised when there is reasonable assurance that the grant will be received, and any conditions attached will be complied with. Grants are recognised as income over the period necessary to match them with the related costs, for which they are intended to compensate, on a systematic basis.

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2019 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2019

and 30 November 2020

32,999

AMORTISATION

At 1 December 2019

and 30 November 2020

32,999

NET BOOK VALUE

At 30 November 2020

-

At 30 November 2019

-

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 December 2019

and 30 November 2020

11,287

62,840

74,127

DEPRECIATION

At 1 December 2019

9,907

38,561

48,468

Charge for year

1,380

3,642

5,022

At 30 November 2020

11,287

42,203

53,490

NET BOOK VALUE

At 30 November 2020

-

20,637

20,637

At 30 November 2019

1,380

24,279

25,659

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

17,780

8,867

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

29,073

25,616

Taxation and social security

33,826

21,286

Other creditors

14,437

13,957

77,336

60,859

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

50

Ordinary

£1

50

50

9.	OTHER FINANCIAL COMMITMENTS

At 30 November 2020 the company was committed to making the following payments:

2020

2019

£

£

Operating leases which expire:

Less than 1 year

22,476

22,754

Between two and five years

231,324

253,800

253,800

276,554

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2020 and 30 November 2019:

2020

2019

£

£

Mr R Sundavadra and Mrs R Sundavadra

Balance outstanding at start of year

4,716

-

Amounts advanced

75,045

70,294

Amounts repaid

(72,279

)

(65,578

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

7,482

4,716

The loan made to directors was unsecured, repayable on demand and with interest charged at 2.25%

11.	POST BALANCE SHEET EVENTS

The aggregate amount of dividends raised since the statement of financial position date amounts to £40,000 (2019: £30,000).

12.	GOING CONCERN

The financial statements have been prepared on the going concern basis, which assumes the company will continue in operational existence for the foreseeable future.

Unlike many other businesses, the company's trade and operations have not been significantly impacted adversely by the coronavirus outbreak since the financial reporting date.

The directors are monitoring the exposure to the company's business, including its employees, and are referring to government and professional advice being published so that action can be considered which may help minimise the impact of this risk.

The directors are confident that the company is in a position to manage the situation and possible outcomes, while working to mitigate the risk where possible. For these reasons the directors believe that the going concern basis is appropriate.