Registered number: 12430657 | ||||||||
FOR THE YEAR ENDED 31 JANUARY 2023 | ||||||||
Prepared By: | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
Direct To Customers Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 JANUARY 2023 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 12430657 | ||||||||
ACCOUNTANTS | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
Direct To Customers Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31 JANUARY 2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Direct To Customers Ltd | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
383,685 | 240,528 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT LIABILITIES | ( | (254,461) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ( | ( | ||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 400,249 | 384,443 | |||||||
NET LIABILITIES | ( | ( | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 8 | |||||||||
Profit and loss account | (862,431) | (498,334) | ||||||||
SHAREHOLDERS' FUNDS | ( | ( | ||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Direct To Customers Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31 JANUARY 2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Going Concern | ||||||||
The company has net liabilities of £862,331 at the Balance Sheet date. The Director has considered the profitability and cash flow of the company for the foreseeable future, being a period of more than twelve months from the date of authorising the accounts. This review shows that the company will be profitable and have sufficient cash flow for its operations, during this period. | ||||||||
Also included in Creditors is £310,000, due to related entities and connected parties. The Director has obtained confirmation of support from these parties for a period of twelve months from the date of authorising the accounts. | ||||||||
In light of the above, the Director believes the company to be a going concern and consequently continue to adopt the going concern basis in the preparation of the accounts. |
1c. Depreciation | ||||||||
Plant and Machinery | reducing balance 25% | |||||||
Equipment | reducing balance 25% |
1d. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1e. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
Direct To Customers Ltd | ||||||||
1f. Turnover | ||||||||
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. |
1g. Statutory Information | ||||||||
Direct To Customers Ltd is a private company, limited by shares, incorporated in England and Wales. The company's registered number is 12430657 and registered office address is First Floor 690 Great West Road, Osterley Village, Isleworth, United Kingdom, TW7 4PU. |
1h. Financial Instruments | ||||||||
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments. |
2. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 14 | |||||
3. TANGIBLE FIXED ASSETS | ||||||
Plant and | ||||||
Machinery | Equipment | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 1 February 2022 | 167,002 | 18,719 | 185,721 | |||
Additions | 26,452 | 2,616 | 29,068 | |||
At 31 January 2023 | 193,454 | 21,335 | 214,789 | |||
Depreciation | ||||||
At 1 February 2022 | 41,059 | 3,992 | 45,051 | |||
For the year | 33,254 | 4,621 | 37,875 | |||
At 31 January 2023 | 74,313 | 8,613 | 82,926 | |||
Net Book Amounts | ||||||
At 31 January 2023 | 131,863 | |||||
At 31 January 2022 | 140,670 | |||||
Direct To Customers Ltd | ||||||||
4. STOCK | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
5. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | - | 573 | ||||||
Other debtors | 58,111 | 57,059 | ||||||
Prepayments | 76,069 | 53,159 | ||||||
Directors current account | 42,293 | - | ||||||
176,473 | 110,791 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Taxation and Social Security | 372,940 | 136,996 | ||||||
Salaries and wages control | 48,456 | 29,793 | ||||||
Directors current account | - | 59,855 | ||||||
Bank loans and overdrafts | 114 | 3,580 | ||||||
Loans | 138,382 | - | ||||||
Hire purchase | 17,694 | 6,033 | ||||||
Trade creditors | 381,787 | 239,222 | ||||||
Other creditors | 12,059 | 18,310 | ||||||
Pension schemes | 4,998 | - | ||||||
Accruals | 1,200 | 1,200 | ||||||
977,630 | 494,989 | |||||||
Direct To Customers Ltd | ||||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 42,550 | 49,061 | ||||||
Hire purchase | 47,699 | 35,382 | ||||||
Other creditors | 310,000 | 300,000 | ||||||
400,249 | 384,443 | |||||||
8. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
65 | 75 | |||||||
5 | 5 | |||||||
30 | 20 | |||||||
100 | 100 | |||||||
9. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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