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 2021

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

188,435

163,281

CURRENT ASSETS

Stocks

60,515

60,515

Debtors

5

1,264,584

1,351,402

Cash at bank and in hand

3,092

19,833

1,328,191

1,431,750

CREDITORS

Amounts falling due within one year

6

1,263,369

960,828

NET CURRENT ASSETS

64,822

470,922

TOTAL ASSETS LESS CURRENT LIABILITIES

253,257

634,203

CREDITORS

Amounts falling due after more than one year

7

(286,288

)

(277,002

)

PROVISIONS FOR LIABILITIES

(27,513

)

(25,387

)

NET (LIABILITIES)/ASSETS

(60,544

)

331,814

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

(60,643

)

331,715

(60,544

)

331,814

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 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 27 October 2021 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 17 (2020 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2020

429,363

Additions

90,995

At 31 January 2021

520,358

DEPRECIATION

At 1 February 2020

266,082

Charge for year

65,841

At 31 January 2021

331,923

NET BOOK VALUE

At 31 January 2021

188,435

At 31 January 2020

163,281

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

Plant and

machinery

etc

£

COST

At 1 February 2020

194,845

Additions

85,948

At 31 January 2021

280,793

DEPRECIATION

At 1 February 2020

101,600

Charge for year

46,937

At 31 January 2021

148,537

NET BOOK VALUE

At 31 January 2021

132,256

At 31 January 2020

93,245

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Trade debtors

567,134

765,314

Other debtors

697,450

586,088

1,264,584

1,351,402

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Bank loans and overdrafts

37,500

-

Hire purchase contracts

53,630

28,973

Trade creditors

664,789

526,153

Taxation and social security

402,191

312,769

Other creditors

105,259

92,933

1,263,369

960,828

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.21

31.1.20

£

£

Bank loans

162,500

-

Hire purchase contracts

43,826

104,813

Other creditors

79,962

172,189

286,288

277,002

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.21

31.1.20

£

£

Bank loans

200,000

-

Hire purchase contracts

97,456

133,786

Factoring Account

-

223,542

297,456

357,328

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.The bank loan is secured by a fixed and floating charge over all company assets and the directors private residence.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances a director subsisted during the years ended 31 January 2021 and 31 January 2020:

31.1.21

31.1.20

£

£

A P Higgs

Balance outstanding at start of year

356,522

289,066

Amounts advanced

88,150

67,456

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

444,672

356,522