D&T Electronics (London) Limited Filleted accounts for Companies House (small and micro)

D&T ELECTRONICS (LONDON) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07469993

D&T Electronics (London) Limited

Filleted Unaudited Financial Statements

29 July 2022

D&T Electronics (London) Limited

Statement of Financial Position

29 July 2022

	29 Jul 22		30 Jul 21
Note	£	£	£

Fixed assets

Tangible assets	6		34,885	46,105

Current assets

Stocks		22,869	19,760
Debtors	7	37,758	46,773
Cash at bank and in hand		45,071	172,243
		---------	---------
		105,698	238,776

Creditors: amounts falling due within one year	8	65,772		208,694
		---------		---------
Net current assets			39,926	30,082
			--------	--------
Total assets less current liabilities			74,811	76,187

Creditors: amounts falling due after more than one year	9	28,738	38,452
		--------	--------
Net assets		46,073	37,735
		--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	45,973	37,635
	--------	--------
Shareholders funds	46,073	37,735
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 29 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

D&T Electronics (London) Limited

Statement of Financial Position (continued)

29 July 2022

These financial statements were approved by the board of directors and authorised for issue on 5 July 2023 , and are signed on behalf of the board by:

Mr P Helliar
Director

Company registration number: 07469993

D&T Electronics (London) Limited

Notes to the Financial Statements

Period from 31 July 2021 to 29 July 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Buxshalls Lodge Ardingly Road, Lindfield, Haywards Heath, RH16 2QY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Over 5 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	25% reducing balance
Motor Vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Stocks

Stocks are measured 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 the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 10 (2021: 10 ).

5. Intangible assets

	Goodwill
	£
Cost
At 31 July 2021 and 29 July 2022	10,000
	--------
Amortisation
At 31 July 2021 and 29 July 2022	10,000
	--------
Carrying amount
At 29 July 2022	–
	--------
At 30 July 2021	–
	--------

6. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 31 July 2021	1,000	79,591	15,094	95,685
Additions	–	–	407	407
	-------	--------	--------	--------
At 29 July 2022	1,000	79,591	15,501	96,092
	-------	--------	--------	--------
Depreciation
At 31 July 2021	922	36,424	12,234	49,580
Charge for the period	19	10,791	817	11,627
	-------	--------	--------	--------
At 29 July 2022	941	47,215	13,051	61,207
	-------	--------	--------	--------
Carrying amount
At 29 July 2022	59	32,376	2,450	34,885
	-------	--------	--------	--------
At 30 July 2021	78	43,167	2,860	46,105
	-------	--------	--------	--------

7. Debtors

	29 Jul 22	30 Jul 21
	£	£
Trade debtors	32,313	27,437
Other debtors	5,445	19,336
	--------	--------
	37,758	46,773
	--------	--------

8. Creditors: amounts falling due within one year

	29 Jul 22	30 Jul 21
	£	£
Bank loans and overdrafts	3,079	–
Trade creditors	37,603	139,578
Corporation tax	1,256	24,448
Social security and other taxes	9,473	27,319
Other creditors	14,361	17,349
	--------	---------
	65,772	208,694
	--------	---------

9. Creditors: amounts falling due after more than one year

	29 Jul 22	30 Jul 21
	£	£
Bank loans and overdrafts	28,738	38,452
	--------	--------

10. Director's advances, credits and guarantees

During the period the director entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	29 Jul 22	30 Jul 21
	£	£

11. Related party transactions

The company was under the control of Mr P Helliar throughout the current and previous year. Mr P Helliar is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard FRS 102 (Section 1A).