Deco Group Ltd - Limited company accounts 22.3
Deco Group Ltd - Limited company accounts 22.3
| REGISTERED NUMBER: |
| REPORT OF THE DIRECTORS AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 |
| FOR |
| DECO GROUP LTD |
| DECO GROUP LTD (REGISTERED NUMBER: 05600512) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2022 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 6 |
| DECO GROUP LTD |
| COMPANY INFORMATION |
| for the Year Ended 31 October 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| DECO GROUP LTD (REGISTERED NUMBER: 05600512) |
| REPORT OF THE DIRECTORS |
| for the Year Ended 31 October 2022 |
| The directors present their report with the financial statements of the company for the year ended 31 October 2022. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 November 2021 to the date of this report. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| DECO GROUP LTD (REGISTERED NUMBER: 05600512) |
| INCOME STATEMENT |
| for the Year Ended 31 October 2022 |
| 31.10.22 | 31.10.21 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| (246,244 | ) | 246,520 |
| Other operating income |
| OPERATING (LOSS)/PROFIT | 4 | ( |
) |
| Interest payable and similar expenses |
| (LOSS)/PROFIT BEFORE TAXATION | ( |
) |
| Tax on (loss)/profit | ( |
) |
| (LOSS)/PROFIT FOR THE FINANCIAL YEAR |
( |
) |
| DECO GROUP LTD (REGISTERED NUMBER: 05600512) |
| BALANCE SHEET |
| 31 October 2022 |
| 31.10.22 | 31.10.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| DECO GROUP LTD (REGISTERED NUMBER: 05600512) |
| BALANCE SHEET - continued |
| 31 October 2022 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| DECO GROUP LTD (REGISTERED NUMBER: 05600512) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2022 |
| 1. | STATUTORY INFORMATION |
| Deco Group Ltd 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 |
| Tangible fixed assets are measured at cost less accumulative depreciation | and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
| Plant & Machinery | 15% Reducing balance basis |
| Motor Vehicle | 25% Reducing balance basis |
| Stocks |
| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
| 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. |
| DECO GROUP LTD (REGISTERED NUMBER: 05600512) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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 NIL (2021 - |
| 31.10.22 | 31.10.21 |
| £ | £ |
| Directors' remuneration |
| 4. | OPERATING (LOSS)/PROFIT |
| The operating loss (2021 - operating profit) is stated after charging: |
| 31.10.22 | 31.10.21 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 November 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 October 2022 |
| DEPRECIATION |
| At 1 November 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 October 2022 |
| NET BOOK VALUE |
| At 31 October 2022 |
| At 31 October 2021 |
| DECO GROUP LTD (REGISTERED NUMBER: 05600512) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2022 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 November 2021 |
| Disposals | ( |
) |
| At 31 October 2022 |
| NET BOOK VALUE |
| At 31 October 2022 |
| At 31 October 2021 |
| 7. | DEBTORS |
| 31.10.22 | 31.10.21 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Inter Company balance | 140,000 | - |
| Tax |
| VAT |
| Amounts falling due after more than one year: |
| Directors' loan accounts | 145,821 | - |
| Aggregate amounts |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.22 | 31.10.21 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Net Wages | 3,903 | - |
| Tax |
| Social security and other taxes | ( |
) |
| VAT | - | 46,673 |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.10.22 | 31.10.21 |
| £ | £ |
| Bank loans more 5 yr by instal |
| Bank loans more 5 yr by instal | 254,142 | - |
| Other creditors |
| Directors' loan accounts | - | 6,172 |
| DECO GROUP LTD (REGISTERED NUMBER: 05600512) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2022 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 31.10.22 | 31.10.21 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 237,916 | - |
| Bank loans more 5 yr by instal | 254,142 | - |
| 492,058 | - |