Dennys Uniforms Limited - Accounts to registrar (filleted) - small 23.2.5
Dennys Uniforms Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 October 2023 |
| for |
| Dennys Uniforms Limited |
| Dennys Uniforms Limited (Registered number: 00423051) |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Dennys Uniforms Limited |
| Company Information |
| for the Year Ended 31 October 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Old Printers Yard |
| 156 South Street |
| Dorking |
| Surrey |
| RH4 2HF |
| Dennys Uniforms Limited (Registered number: 00423051) |
| Balance Sheet |
| 31 October 2023 |
| 31.10.23 | 31.10.22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 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 | 11 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Dennys Uniforms Limited (Registered number: 00423051) |
| Balance Sheet - continued |
| 31 October 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Dennys Uniforms Limited (Registered number: 00423051) |
| Notes to the Financial Statements |
| for the Year Ended 31 October 2023 |
| 1. | STATUTORY INFORMATION |
| Dennys Uniforms Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | 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. |
| Goodwill |
| Goodwill represents the difference between the amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings overs its useful economic life of 10 years. |
| Intangible assets other than goodwill |
| Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| All intangible assets other than goodwill are considered to have a finite useful life of 3 years. |
| Dennys Uniforms Limited (Registered number: 00423051) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2023 |
| 3. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| Depreciation is charged so as to allocate the cost of the assets less their residual value over their estimated useful lives. |
| Depreciation is provided on the following basis: |
| Long-term leasehold property | - Over the period of the lease |
| Plant and machinery | - 3 to 6 years straight line |
| Motor Vehicles | - 5 years straight line |
| Fixtures and fittings | - 6 years straight line |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively, if appropriate, or if there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of Income and Retained earnings. |
| Stocks |
| Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost comprises the average cost of direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition. |
| At each reporting date stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. A provision is made for obsolete, slow-moving and defective items where appropriate. |
| 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. |
| Dennys Uniforms Limited (Registered number: 00423051) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2023 |
| 3. | ACCOUNTING POLICIES - continued |
| Foreign currencies |
| Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. |
| At each period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. |
| Operating leases: the company as a lessee |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the lease term. |
| Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis us representative of the time pattern of the lessee's benefit from the use of the leased asset. |
| 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 November 2022 |
| and 31 October 2023 |
| AMORTISATION |
| At 1 November 2022 |
| Charge for year |
| At 31 October 2023 |
| NET BOOK VALUE |
| At 31 October 2023 |
| At 31 October 2022 |
| Dennys Uniforms Limited (Registered number: 00423051) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2023 |
| 6. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and | Motor |
| leasehold | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 November 2022 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 October 2023 |
| DEPRECIATION |
| At 1 November 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 October 2023 |
| NET BOOK VALUE |
| At 31 October 2023 |
| At 31 October 2022 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 November 2022 |
| Transfer to ownership | (73,167 | ) |
| At 31 October 2023 |
| DEPRECIATION |
| At 1 November 2022 |
| Charge for year |
| Transfer to ownership | (73,167 | ) |
| At 31 October 2023 |
| NET BOOK VALUE |
| At 31 October 2023 |
| At 31 October 2022 |
| Dennys Uniforms Limited (Registered number: 00423051) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2023 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.23 | 31.10.22 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Directors' current accounts | - | 3,454 |
| Prepayments |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.23 | 31.10.22 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans < 1 year |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Duty Payable | 92 | 816 |
| VAT | 211,058 | 213,709 |
| Other creditors |
| Directors' current accounts | - | 3,331 |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.10.23 | 31.10.22 |
| £ | £ |
| Bank loans > one year |
| Other loans > one year |
| Hire purchase contracts |
| Dennys Uniforms Limited (Registered number: 00423051) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2023 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.10.23 | 31.10.22 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 33,797 | 61,651 |
| Obligations under finance leases and hire purchase contracts are secured upon the assets to which they relate. |
| In addition, Lloyds Bank holds fixed and floating charges over all the assets of the company. |
| 11. | CALLED UP SHARE CAPITAL |
| 31.10.22 | 31.10.21 |
| £ | £ |
| Allotted, called up and fully paid |
| 239,040 Ordinary shares of £0.01 each | 2,390 | 2,390 |
| 67,179 Ordinary A shares of £0.01 each | 672 | 672 |
| 3,062 | 3,062 |
| 12. | OTHER FINANCIAL COMMITMENTS |
| The company had financial commitments not included in the financial statements totalling £1,499,993 (2022- £1,435,646) at the year end. |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022: |
| 31.10.23 | 31.10.22 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Dennys Uniforms Limited (Registered number: 00423051) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2023 |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 14. | RELATED PARTY DISCLOSURES |
| At the year end the company was owed £1,764,561 (2022 -£2,015,517) from the parent company, Dennys Brands Ltd. There is no interest charged on this loan. |
| At the year end the company owed £Nil (2022 - £12,468) to P N Jubert, a director of the company. Interest is charged at 8% and the loan was repaid in monthly instalments with the last instalment paid in February 2023. |
| At the year end the company owed £195,078 (2022 - £222,238) to R L Jubert, a director of the company. Interest is charged at 8% and the loan is repaid in monthly instalments with the last instalment due for payment in April 2029. |
| At the year end the company owed £Nil (2022 - £27) to C A Ramage, a director of the company. This loan is interest free and repayable on demand. |
| At the year end the company owed £Nil (2022 - £3,304) to R L Jubert, a director of the company. This loan is interest free and repayable on demand. |
| During the year royalty payments of £59,370 ( 2022 - £59,170) were paid to M Gregory. |
| 15. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |
| 16. | PARENT UNDERTAKING |
| The parent company is Dennys Brands Limited. |