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Registration number: 07701295

DGJ Process Engineering Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2022

 

DGJ Process Engineering Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 10

 

DGJ Process Engineering Ltd

Company Information

Director

Mr D G James

Registered office

320 Garratt Lane
London
SW18 4EJ

Accountants

Franklin, Chartered Accountants
320 Garratt Lane
London
SW18 4EJ

 

DGJ Process Engineering Ltd

(Registration number: 07701295)
Balance Sheet as at 31 July 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

329

344

Current assets

 

Debtors

5

2,214

2,566

Cash at bank and in hand

 

5,569

74

 

7,783

2,640

Creditors: Amounts falling due within one year

6

(7,937)

(14,043)

Net current liabilities

 

(154)

(11,403)

Total assets less current liabilities

 

175

(11,059)

Provisions for liabilities

(62)

(66)

Net assets/(liabilities)

 

113

(11,125)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

112

(11,126)

Shareholders' funds/(deficit)

 

113

(11,125)

For the financial year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 19 August 2022
 

 

DGJ Process Engineering Ltd

(Registration number: 07701295)
Balance Sheet as at 31 July 2022

.........................................
Mr D G James
Director

 

DGJ Process Engineering Ltd

Statement of Changes in Equity for the Year Ended 31 July 2022

Share capital
£

Retained earnings
£

Total
£

At 1 August 2021

1

(11,126)

(11,125)

Profit for the year

-

28,838

28,838

Dividends

-

(17,600)

(17,600)

At 31 July 2022

1

112

113

Share capital
£

Profit and loss account
£

Total
£

At 1 August 2020

1

90

91

Loss for the year

-

(11,216)

(11,216)

Total comprehensive income

-

(11,216)

(11,216)

At 31 July 2021

1

(11,126)

(11,125)

 

DGJ Process Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
320 Garratt Lane
London
SW18 4EJ

These financial statements were authorised for issue by the director on 19 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

DGJ Process Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% on a Straight Line basis

Furniture & Fittings

25% on a Straight Line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

DGJ Process Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The Company has chosen to adopt sections 11 and 12 of FRS 102 in respect of financial instruments.

 Recognition and measurement
Financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate.

 Impairment
Financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate.

 

DGJ Process Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2021

1,033

1,033

Additions

438

438

At 31 July 2022

1,471

1,471

Depreciation

At 1 August 2021

689

689

Charge for the year

453

453

At 31 July 2022

1,142

1,142

Carrying amount

At 31 July 2022

329

329

At 31 July 2021

344

344

5

Debtors

Current

2022
£

2021
£

Other debtors

2,214

2,566

 

DGJ Process Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Taxation and social security

6,737

-

Other creditors

1,200

14,043

7,937

14,043

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

8

Dividends

   

2022

 

2021

   

£

 

£

         
 

DGJ Process Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

9

Related party transactions

Transactions with the director

2022

At 1 August 2021
£

Advances to director
£

At 31 July 2022
£

Mr D G James

Loan to Director

-

2,215

2,215

       
     

 

Director's remuneration

The director's remuneration for the year was as follows:

2022
£

2021
£

Remuneration

8,927

8,803

Contributions paid to money purchase schemes

4,375

1,875

13,302

10,678