DPT-Online Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07632121 (England and Wales)

ABRIDGED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022

FOR

DPT-ONLINE LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J Smith

REGISTERED OFFICE:

Unit 11

Beechings Way Industrial Estate

Alford

Lincolnshire

LN13 9JE

REGISTERED NUMBER:

07632121 (England and Wales)

ACCOUNTANTS:

Maxwell & Co

9 Abbey Business Park

Monks Walk

Farnham

Surrey

GU9 8HT

FIXED ASSETS

Tangible assets

4

66,823

49,565

CURRENT ASSETS

Stocks

69,300

40,000

Debtors

220,223

224,566

Cash at bank and in hand

129,300

136,407

418,823

400,973

CREDITORS

Amounts falling due within one year

418,948

474,742

NET CURRENT LIABILITIES

(125

)

(73,769

)

TOTAL ASSETS LESS CURRENT LIABILITIES

66,698

(24,204

)

CREDITORS

Amounts falling due after more than one year

(32,933

)

-

PROVISIONS FOR LIABILITIES

(12,532

)

(9,724

)

NET ASSETS/(LIABILITIES)

21,233

(33,928

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

21,232

(33,929

)

SHAREHOLDERS' FUNDS

21,233

(33,928

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 by the director and authorised for issue on 28 February 2023 and were signed by:

M J Smith - Director

1.	STATUTORY INFORMATION

DPT-Online Ltd 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.

The financial statements have been prepared on a going concern basis. The director is not aware of any reason why the Company is not able to meet its financial obligations within the next 12 months.

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.

Web site

-

20% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Computer equipment

-

25% on cost

Government grants

Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

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 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 30 (2021 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2021

135,069

Additions

29,757

At 31 May 2022

164,826

DEPRECIATION

At 1 June 2021

85,504

Charge for year

12,499

At 31 May 2022

98,003

NET BOOK VALUE

At 31 May 2022

66,823

At 31 May 2021

49,565

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

Totals

£

COST

At 1 June 2021

27,990

Transfer to ownership

(27,990

)

At 31 May 2022

-

DEPRECIATION

At 1 June 2021

13,636

Transfer to ownership

(13,636

)

At 31 May 2022

-

NET BOOK VALUE

At 31 May 2022

-

At 31 May 2021

14,354

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2022 and 31 May 2021:

2022

2021

£

£

M J Smith

Balance outstanding at start of year

55,958

(28,509

)

Amounts advanced

88,245

84,467

Amounts repaid

(89,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

55,203

55,958

6.	ULTIMATE CONTROLLING PARTY

The controlling party is M J Smith.

7.	GOING CONCERN

Despite the impact of the coronavirus pandemic on the company, the director considers that the business remains a going concern for the foreseeable future and with that in mind, the accounts have been prepared on the going concern basis.