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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 |
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DOUBLE-TEN LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 |
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FOR |
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DOUBLE-TEN LIMITED |
DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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DOUBLE-TEN LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
1 Valley Court |
Canal Road |
Bradford |
West Yorkshire |
BD1 4SP |
DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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BALANCE SHEET |
31 JANUARY 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
7 |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Profit and loss account |
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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. |
DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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BALANCE SHEET - continued |
31 JANUARY 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2021 |
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1. | STATUTORY INFORMATION |
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Double-Ten Limited is a
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2. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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TANGIBLE FIXED ASSETS |
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Freehold 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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GOVERNMENT GRANTS |
Grants receivable in relation to profit and loss expenditure are credited to the profit and loss in the year for which they relate. |
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STOCKS |
Work in progress is valued at the lower of cost and net realisable value. |
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In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion. |
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TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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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DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2021 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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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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INCOME RECOGNITION |
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. |
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Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. |
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FINANCE COSTS OF DEBT |
The finance costs of debt, including interest and issue costs, are allocated to each period over the term of the debt and charged to the profit and loss account at a constant rate on the outstanding amount. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2021 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 February 2020 |
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Additions |
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Disposals |
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At 31 January 2021 |
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DEPRECIATION |
At 1 February 2020 |
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Charge for year |
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Eliminated on disposal |
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At 31 January 2021 |
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NET BOOK VALUE |
At 31 January 2021 |
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At 31 January 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by related party |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts (see note 8) |
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Trade creditors |
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Amounts owed to related party | 548,258 | 490,511 |
Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans (see note 8) |
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DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2021 | 2020 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 1,067,182 | 1,178,181 |
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8. | LOANS |
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An analysis of the maturity of loans is given below: |
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2021 | 2020 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 1,067,182 | 1,178,181 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2021 | 2020 |
£ | £ |
Bank loans |
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The loans are secured over the companies freehold property. |
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10. | PENSION COMMITMENTS |
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The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £10,512 (2020:£10,512 ). Contributions totalling £Nil (2020:£Nil) were payable to the fund at the year end and are included in creditors. |
DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2021 |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 January 2021 and 31 January 2020: |
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2021 | 2020 |
£ | £ |
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Balance outstanding at start of year |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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12. | RELATED PARTY DISCLOSURES |
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Mr Carl Nicholas Barnes has control over the majority of shares in the company, and together with his involvement in its day-to-day management is deemed to be the controlling party for the purposes of reporting standard No.102. |
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Mr Carl Nicholas Barnes was a director of Barnes (Homes) Limited and is a director of Fortifire Solutions Limited and Firecheck Systems Limited. Mrs Caroline Barnes,the wife of Carl Barnes, is a director of Tracmil Limited. |
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Debtors falling due within one year includes £54,828 (2020:£74,198) owed by Tracmil Limited. |
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Creditors falling due within one year includes £497,866 (2020:£440,119) owed to Fortifire Solutions Limited, £50,392 (2020:£50,392) owed to Firecheck Systems Limited. |
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During the year ended 31st January 2021, a management charge was paid to Barnes (Homes) Limited amounting to £Nil (2020:£30,000) for direct costs and wages recharged. Assets were purchases from Barnes Homes Limited amounting to £Nil (2020:£116,254). |
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During the year ended 31st January 2021, a management charge was paid to Fortifire Solutions Limited amounting to £159,500 (2020:£Nil) for direct costs and wages recharged. Rent was received by Fortifire Solutions Limited during the year amounting to £18,576 (2020:£18,576). |