Company Registration No. NI659265 (Northern Ireland)
DOCE Retail Limited
Unaudited accounts
for the year ended 31 December 2021
DOCE Retail Limited
Statement of financial position
as at
31 December 2021
Tangible assets
287,930
329,864
Inventories
20,460
12,736
Cash at bank and in hand
641
3,347
Creditors: amounts falling due within one year
(238,222)
(186,805)
Net current liabilities
(202,871)
(121,087)
Total assets less current liabilities
85,059
208,777
Creditors: amounts falling due after more than one year
(310,397)
(352,486)
Net liabilities
(225,338)
(143,709)
Called up share capital
2
2
Profit and loss account
(225,340)
(143,711)
Shareholders' funds
(225,338)
(143,709)
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2022 and were signed on its behalf by
Donagh McGoveran
Director
Company Registration No. NI659265
DOCE Retail Limited
Notes to the Accounts
for the year ended 31 December 2021
DOCE Retail Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI659265. The registered office is T/A Centra River House , 48 High Street, Belfast, Co. Antrim, BT1 2BE, Northern Ireland .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors of DOCE Retail Limited believe that the company has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least twelve months from the date of signing. Accordingly, DOCE Retail Limited continues to adopt the going concern basis in preparing the financial statements.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% Straight Line
Fixtures & fittings
15% Straight Line
Computer equipment
15% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover us recognised to the extent that it is probable that the economic benefits will flow to the company and revenue can be measured reliably. Revenue from the sale of goods is recognised when all the following conditions are satisfied:
-the Company has transferred to buyer the significant risks and rewards of ownership of the goods;
-the amount of revenue can be measured reliably;
-it is probable that the economic benefits associated with the transaction will flow to
the Company; and
-the costs incurred or to the incurred in respect of the transition can be measured
reliably.
DOCE Retail Limited
Notes to the Accounts
for the year ended 31 December 2021
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2021
166,260
222,949
1,195
390,404
At 31 December 2021
166,260
222,949
1,195
390,404
At 1 January 2021
12,367
47,971
202
60,540
Charge for the year
8,313
33,442
179
41,934
At 31 December 2021
20,680
81,413
381
102,474
At 31 December 2021
145,580
141,536
814
287,930
At 31 December 2020
153,893
174,978
993
329,864
Finished goods
20,460
12,736
Amounts falling due within one year
Accrued income and prepayments
495
11,037
Other debtors
12,108
35,268
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
110,469
49,380
Trade creditors
36,721
108,366
Taxes and social security
660
2,933
Other creditors
34,690
814
Deferred income
20,000
20,000
DOCE Retail Limited
Notes to the Accounts
for the year ended 31 December 2021
8
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
180,397
202,486
Deferred income
130,000
150,000
Aggregate of amounts that fall due for payment after five years
61,132
38,203
Bank loan secured as follows:
Fixed and floating charge over the property and undertaking of the company.
9
Share capital
2021
2020
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Transactions with related parties
Included in other debtors are amounts due from related party entities of £11,074 (2020: £34,237).
Included in other creditors are amounts due to related party entities of £34,690 (2020: £Nil). All amounts are unsecured and repayable on demand.
11
Average number of employees
During the year the average number of employees was 9 (2020: 13).