Company Registration No. 08531039 (England and Wales)
DST HOLDINGS LTD
Unaudited accounts
for the year ended 31 May 2019
DST HOLDINGS LTD
Statement of financial position
as at
31 May 2019
Tangible assets
30,294
6,586
Inventories
278,575
233,523
Cash at bank and in hand
36,587
70,676
Creditors: amounts falling due within one year
(517,550)
(374,466)
Net current assets
67,781
33,311
Total assets less current liabilities
98,075
39,897
Creditors: amounts falling due after more than one year
(40,932)
-
Called up share capital
1
1
Profit and loss account
57,142
39,896
Shareholders' funds
57,143
39,897
For the year ending 31 May 2019 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 director acknowledges his 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.
Approved by the Board on 14 February 2020.
Davinder Singh Dhanoa
Director
Company Registration No. 08531039
DST HOLDINGS LTD
Notes to the Accounts
for the year ended 31 May 2019
DST HOLDINGS LTD is a private company, limited by shares, registered in England and Wales, registration number 08531039. The registered office is Unit 20b, Calderdale Business Park, Club lane, Halifax, HX2 8DB, ENGLAND.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Plant & machinery
20% on reducing balance
Fixtures & fittings
20% on reducing balance
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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
DST HOLDINGS LTD
Notes to the Accounts
for the year ended 31 May 2019
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2018
10,708
-
10,708
Additions
12,139
19,143
31,282
At 31 May 2019
22,847
19,143
41,990
At 1 June 2018
4,122
-
4,122
Charge for the year
3,745
3,829
7,574
At 31 May 2019
7,867
3,829
11,696
At 31 May 2019
14,980
15,314
30,294
At 31 May 2018
6,586
-
6,586
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
8,290
-
Finished goods
278,575
233,523
Trade debtors
269,063
98,887
Other debtors
1,106
4,691
7
Creditors: amounts falling due within one year
2019
2018
Obligations under finance leases and hire purchase contracts
3,411
-
Trade creditors
445,394
310,795
Taxes and social security
2,502
4,959
Other creditors
64,443
58,712
Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.
DST HOLDINGS LTD
Notes to the Accounts
for the year ended 31 May 2019
8
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
6,253
-
Included within other creditors are obligations under finance leases and hire purchase contracts of £6,253 (2018 - £Nil) which are secured against the assets to which they relate.
9
Share capital
2019
2018
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
10
Average number of employees
During the year the average number of employees was 2 (2018: 2).