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REGISTERED NUMBER:
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Daleking Limited |
Trading as |
Hi Sell Direct |
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Unaudited Financial Statements |
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for the Year Ended 31st March 2018 |
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REGISTERED NUMBER:
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Daleking Limited |
Trading as |
Hi Sell Direct |
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Unaudited Financial Statements |
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for the Year Ended 31st March 2018 |
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Daleking Limited (Registered number: 01660503) |
Trading as Hi Sell Direct |
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Contents of the Financial Statements |
for the year ended 31st March 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 | to | 6 |
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Daleking Limited |
Trading as Hi Sell Direct |
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Company Information |
for the year ended 31st March 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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310 Wellingborough Road |
Northampton |
NN1 4EP |
Daleking Limited (Registered number: 01660503) |
Trading as Hi Sell Direct |
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Balance Sheet |
31st March 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings | 11 |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Daleking Limited (Registered number: 01660503) |
Trading as Hi Sell Direct |
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Notes to the Financial Statements |
for the year ended 31st March 2018 |
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1. | STATUTORY INFORMATION |
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Daleking Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The principal activity of the company in the year was that of furniture and carpet retailers |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. |
These policies have been consistently applied to all years presented unless otherwise stated. |
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Turnover |
The company's turnover represents the value, excluding value added tax, of goods supplied to customers in the |
UK during the year net of finance charges on sales made on "interest free credit". The directors consider that |
there is only one class of business. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks have been valued at the lower of cost and net realisable value. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
Daleking Limited (Registered number: 01660503) |
Trading as Hi Sell Direct |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2018 |
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3. | ACCOUNTING POLICIES - continued |
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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st April 2017 |
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Disposals |
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( |
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At 31st March 2018 |
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DEPRECIATION |
At 1st April 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31st March 2018 |
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NET BOOK VALUE |
At 31st March 2018 |
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At 31st March 2017 |
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The net book value of tangible fixed assets includes £NIL (2017 - £ 3,725 ) in respect of assets held under hire |
purchase contracts. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Daleking Limited (Registered number: 01660503) |
Trading as Hi Sell Direct |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Payments on account |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank overdrafts |
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Barclays Bank Plc., hold a debenture covering a fixed and floating charge over the companies assets. |
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9. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 6,254 | 8,685 |
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Deferred |
tax |
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Balance at 1st April 2017 |
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Credit to Income Statement during year | ( |
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Balance at 31st March 2018 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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11. | RESERVES |
Retained |
earnings |
£ |
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At 1st April 2017 |
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Profit for the year |
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Dividends | ( |
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At 31st March 2018 |
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12. | CONTINGENT LIABILITIES |
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There were no contingent liabilities as at 31st March 2018 or at 31st March 2017. |
Daleking Limited (Registered number: 01660503) |
Trading as Hi Sell Direct |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2018 |
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13. | CAPITAL COMMITMENTS |
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There were no capital commitments as at 31st March 2018 or at 31st March 2017. |
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14. | RELATED PARTY DISCLOSURES |
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The company paid rent to its holding company Finchmoor Limited of £171,600 (2017-£171,600) in the year. As |
at 31st March 2018 the company was owed £475,549 (2017-£530,105) by Finchmoor Limited . |
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As at 31st March 2018 the directors were owed £21,890 (2017-£14,564) by the company. |
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As at 31st March 2018 the company was owed £7,871 (2017-£7,871) by Finchmoor Directors Retirement Plan |
which is controlled by the directors. |