|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
DAC Enterprises Limited |
|
Report of the Directors and |
|
Unaudited Financial Statements |
|
for the Year Ended 31 January 2018 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
DAC Enterprises Limited |
|
Report of the Directors and |
|
Unaudited Financial Statements |
|
for the Year Ended 31 January 2018 |
|
|
|
|
|
DAC Enterprises Limited (Registered number: 04647957) |
|
Contents of the Financial Statements |
for the Year Ended 31 January 2018 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Report of the Directors | 2 |
|
Chartered Accountants' Report | 3 |
|
Income Statement | 4 |
|
Other Comprehensive Income | 5 |
|
Statement of Financial Position | 6 |
|
Notes to the Financial Statements | 7 |
|
DAC Enterprises Limited |
|
Company Information |
for the Year Ended 31 January 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Sterling House |
97 Lichfield Street |
Tamworth |
Staffordshire |
B79 7QF |
DAC Enterprises Limited (Registered number: 04647957) |
|
Report of the Directors |
for the Year Ended 31 January 2018 |
|
|
The directors present their report with the financial statements of the company for the year ended 31 January 2018. |
|
PRINCIPAL ACTIVITY |
The factoring of motor vehicles and accessories. |
|
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 February 2017 to the date of this |
report. |
|
|
|
|
DIRECTORS' RESPONSIBILITIES STATEMENT |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with |
applicable law and regulations. |
|
Company law requires the directors to prepare financial statements for each financial year. Under that law the |
directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted |
Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting |
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the |
directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the |
state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial |
statements, the directors are required to: |
|
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
|
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the |
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and |
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible |
for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of |
fraud and other irregularities. |
|
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: |
|
|
|
|
|
|
|
|
|
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
DAC Enterprises Limited |
|
|
|
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of DAC Enterprises Limited for the year ended 31 January 2018 which comprise the Income |
Statement, Other Comprehensive Income, Statement of Financial Position and the related notes from the company's |
accounting records and from information and explanations you have given us. |
|
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
|
This report is made solely to the Board of Directors of DAC Enterprises Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of DAC Enterprises Limited and state those matters that we have agreed to state to the Board of Directors of DAC Enterprises Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DAC Enterprises Limited and its Board of Directors, as a body, for our work or for this report. |
|
It is your duty to ensure that DAC Enterprises Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of DAC Enterprises Limited. You consider that DAC Enterprises Limited is exempt from the statutory audit requirement for the year. |
|
We have not been instructed to carry out an audit or a review of the financial statements of DAC Enterprises Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
|
|
|
|
|
|
|
Sterling House |
97 Lichfield Street |
Tamworth |
Staffordshire |
B79 7QF |
|
|
|
DAC Enterprises Limited (Registered number: 04647957) |
|
Income Statement |
for the Year Ended 31 January 2018 |
|
2018 | 2017 |
Notes | £ | £ |
|
TURNOVER |
|
|
|
Cost of sales |
|
|
GROSS PROFIT |
|
|
|
Administrative expenses |
|
|
43,348 | 28,921 |
|
Other operating income |
|
|
43,652 | 28,921 |
|
Interest receivable and similar income |
|
|
43,689 | 28,965 |
|
Interest payable and similar expenses |
|
|
PROFIT BEFORE TAXATION | 5 |
|
|
|
Tax on profit | 6 |
|
|
PROFIT FOR THE FINANCIAL YEAR |
|
|
DAC Enterprises Limited (Registered number: 04647957) |
|
Other Comprehensive Income |
for the Year Ended 31 January 2018 |
|
2018 | 2017 |
Notes | £ | £ |
|
PROFIT FOR THE YEAR |
|
|
|
|
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR |
|
|
DAC Enterprises Limited (Registered number: 04647957) |
|
Statement of Financial Position |
31 January 2018 |
|
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 7 |
|
|
Tangible assets | 8 |
|
|
|
|
|
CURRENT ASSETS |
Stocks | 9 |
|
|
Debtors | 10 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 11 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 12 |
|
|
Retained earnings | 13 |
|
|
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. |
|
|
|
The financial statements were approved by the Board of Directors on
by: |
|
|
|
|
|
|
|
DAC Enterprises Limited (Registered number: 04647957) |
|
Notes to the Financial Statements |
for the Year Ended 31 January 2018 |
|
|
1. | STATUTORY INFORMATION |
|
DAC Enterprises Limited is a
|
company's registered number and registered office address can be found on the Company Information page. |
|
2. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgement, |
estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from |
other sources. The estimates and associated assumptions are based on historical experience and other factors |
that are considered to be relevant. Actual results may differ from these estimates. |
|
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting |
estimates are recognised in the period in which the estimate is revised where the revision affects only that |
period, or in the period of revision and future periods where the revision affects both current and future periods. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates |
and value added tax. |
|
Goodwill |
Goodwill is written off in equal annual instalments over its estimated useful economic life of ten years. |
|
Tangible fixed assets |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
|
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 statement of financial position date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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. |
DAC Enterprises Limited (Registered number: 04647957) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2018 |
|
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
5. | PROFIT BEFORE TAXATION |
|
The profit is stated after charging: |
|
2018 | 2017 |
£ | £ |
Depreciation - owned assets |
|
|
|
6. | TAXATION |
|
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2018 | 2017 |
£ | £ |
Current tax: |
UK corporation tax |
|
|
|
Deferred tax | ( |
) |
|
Tax on profit |
|
|
|
7. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 February 2017 |
and 31 January 2018 |
|
AMORTISATION |
At 1 February 2017 |
and 31 January 2018 |
|
NET BOOK VALUE |
At 31 January 2018 |
|
At 31 January 2017 |
|
DAC Enterprises Limited (Registered number: 04647957) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2018 |
|
|
8. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 February 2017 |
and 31 January 2018 |
|
|
|
|
|
DEPRECIATION |
At 1 February 2017 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
At 31 January 2018 |
|
|
|
|
|
NET BOOK VALUE |
At 31 January 2018 |
|
|
|
|
|
At 31 January 2017 |
|
|
|
|
|
|
9. | STOCKS |
2018 | 2017 |
£ | £ |
Finished goods |
|
|
|
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
|
|
|
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
12. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
|
Ordinary shares | 1.00 | 100 | 100 |
|
13. | RESERVES |
Retained |
earnings |
£ |
|
At 1 February 2017 |
|
Profit for the year |
|
At 31 January 2018 |
|
DAC Enterprises Limited (Registered number: 04647957) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2018 |
|
|
14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
|
During the year the director made loans to the company, these were interest free and repayable on demand. |
The balance as at the year end was £3,348 (2017 - £4,452). |