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REGISTERED NUMBER: 07920996 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

DAMSON MECHANICAL LIMITED

DAMSON MECHANICAL LIMITED (REGISTERED NUMBER: 07920996)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Balance sheet 1

Notes to the financial statements 3


DAMSON MECHANICAL LIMITED (REGISTERED NUMBER: 07920996)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
Fixed assets
Tangible assets 4 27,639 4,068

Current assets
Stocks 35,775 22,548
Debtors 5 60,188 97,772
Cash at bank 3,150 1,352
99,113 121,672
Creditors
Amounts falling due within one year 6 73,160 74,879
Net current assets 25,953 46,793
Total assets less current liabilities 53,592 50,861

Creditors
Amounts falling due after more than one year 7 (41,338 ) (42,013 )

Provisions for liabilities 9 (5,251 ) (773 )
Net assets 7,003 8,075

Capital and reserves
Called up share capital 10 100 100
Retained earnings 6,903 7,975
Shareholders' funds 7,003 8,075

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

DAMSON MECHANICAL LIMITED (REGISTERED NUMBER: 07920996)

BALANCE SHEET - continued
31 MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2022 and were signed on its behalf by:




Mr A W Smith - Director



Mr P Woodgate - Director


DAMSON MECHANICAL LIMITED (REGISTERED NUMBER: 07920996)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. Statutory information

Damson Mechanical Limited is a private company, limited by shares registered in England and Wales. The company's registered number is 07920996.The registered office and business address is Suite 10, Whittle Road, Ferndown Industrial Estate, Ferndown, BH21 7RU.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts invoiced, excluding value added tax, for the provision of plumbing and heating services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance

Government grants
Using the accrual basis government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Grants which become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress is valued using the 'percentage of completion' method in line with FRS102 requirements.

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 balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

DAMSON MECHANICAL LIMITED (REGISTERED NUMBER: 07920996)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. Accounting policies - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2021 - 2 ) .

4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 April 2021 3,168 4,367 6,450 13,985
Additions 296 506 33,057 33,859
At 31 March 2022 3,464 4,873 39,507 47,844
Depreciation
At 1 April 2021 1,578 2,535 5,804 9,917
Charge for year 471 1,391 8,426 10,288
At 31 March 2022 2,049 3,926 14,230 20,205
Net book value
At 31 March 2022 1,415 947 25,277 27,639
At 31 March 2021 1,590 1,832 646 4,068

DAMSON MECHANICAL LIMITED (REGISTERED NUMBER: 07920996)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
Additions 23,707
At 31 March 2022 23,707
Depreciation
Charge for year 5,927
At 31 March 2022 5,927
Net book value
At 31 March 2022 17,780

5. Debtors: amounts falling due within one year
2022 2021
£    £   
Trade debtors 10,996 43,503
Other debtors 18,021 29,548
Directors' current accounts 25,054 23,596
VAT 4,992 -
Prepayments 1,125 1,125
60,188 97,772

6. Creditors: amounts falling due within one year
2022 2021
£    £   
Bank loans and overdrafts 9,753 8,147
Hire purchase contracts 5,980 -
Trade creditors 22,338 23,087
Tax 33,189 38,263
VAT - 3,482
Accruals and deferred income 1,900 1,900
73,160 74,879

7. Creditors: amounts falling due after more than one year
2022 2021
£    £   
Bank loans - 1-2 years 9,962 9,753
Bank loans - 2-5 years 22,299 30,524
Bank loans more 5 yr by instal - 1,736
Hire purchase contracts 9,077 -
41,338 42,013

DAMSON MECHANICAL LIMITED (REGISTERED NUMBER: 07920996)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


7. Creditors: amounts falling due after more than one year - continued
2022 2021
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 1,736

8. Secured debts

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 15,057 -

9. Provisions for liabilities
2022 2021
£    £   
Deferred tax 5,251 773

Deferred
tax
£   
Balance at 1 April 2021 773
Provided during year 4,478
Balance at 31 March 2022 5,251

10. Called up share capital


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

11. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
Mr A W Smith
Balance outstanding at start of year 11,233 11,364
Amounts advanced 43,178 40,869
Amounts repaid (40,000 ) (41,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,411 11,233

DAMSON MECHANICAL LIMITED (REGISTERED NUMBER: 07920996)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


11. Directors' advances, credits and guarantees - continued

Mr P Woodgate
Balance outstanding at start of year 12,363 -
Amounts advanced 38,279 12,363
Amounts repaid (40,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,642 12,363

At the balance sheet date the Director, Mr A Smith owed the company £14,411 (2021: £11,233) and the Director, Mr P Woodgate owed the company £10,642 (2021: £12,363).

The amounts outstanding at the balance sheet date were repaid in full within 9 months of the year end.

12. Ultimate controlling party

The company is controlled by the directors who between them own 100% of the issued share capital.