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Registration number: 06238221

DRTC Safety Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 5 April 2022

 

DRTC Safety Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

DRTC Safety Limited

Company Information

Director

Mr John Anthony Clark

Company secretary

Mrs Kathryn Clark

Registered office

3 Broad Meadow
Bromley Cross
Bolton
Lancashire
BL7 9AY

 

DRTC Safety Limited

(Registration number: 06238221)
Balance Sheet as at 5 April 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

-

1

Current assets

 

Debtors

5

2,189

770

Cash at bank and in hand

 

8,758

25,860

 

10,947

26,630

Creditors: Amounts falling due within one year

6

(10,183)

(7,483)

Net current assets

 

764

19,147

Net assets

 

764

19,148

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

664

19,048

Shareholders' funds

 

764

19,148

For the financial year ending 5 April 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 17 August 2022
 

.........................................
Mr John Anthony Clark
Director

 

DRTC Safety Limited

Notes to the Financial Statements for the Year Ended 5 April 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:
3 Broad Meadow
Bromley Cross
Bolton
Lancashire
BL7 9AY
England

These financial statements were authorised for issue by the director on 17 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current 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.

 

DRTC Safety Limited

Notes to the Financial Statements for the Year Ended 5 April 2022

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.

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

Fixtures and fittings

25% straight line

Computer equipment

20% straight line

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.

 

DRTC Safety Limited

Notes to the Financial Statements for the Year Ended 5 April 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2021 - 2).

 

DRTC Safety Limited

Notes to the Financial Statements for the Year Ended 5 April 2022

4

Tangible assets

Fixtures and Fittings
£

Computer Equipment
£

Total
£

Cost or valuation

At 6 April 2021

1,120

783

1,903

At 5 April 2022

1,120

783

1,903

Depreciation

At 6 April 2021

1,120

782

1,902

Charge for the year

-

1

1

At 5 April 2022

1,120

783

1,903

Carrying amount

At 5 April 2022

-

-

-

At 5 April 2021

-

1

1

5

Debtors

2022
£

2021
£

Prepayments

592

770

Directors loan account

1,597

-

Total current trade and other debtors

2,189

770

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Directors loan account

-

1,659

Accrued expenses

 

1,216

1,216

Corporation tax liability

 

8,964

4,605

Credit card

 

3

3

 

10,183

7,483