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Registration number: 10539865

DV8 Stunts Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

DV8 Stunts Limited

Contents

Company Information

1

Balance Sheet

2 to 3

 

DV8 Stunts Limited

Company Information

Director

Mr RJ Wheeldon

Registered office

8 Cedar Close
Ashbourne
Derbyshire
DE6 1FJ

Accountants

Coates and Partners Limited
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

DV8 Stunts Limited

(Registration number: 10539865)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

55,809

62,181

Current assets

 

Debtors

5

3,534

1,857

Cash at bank and in hand

 

21,139

65,678

 

24,673

67,535

Creditors: Amounts falling due within one year

6

(20,355)

(48,652)

Net current assets

 

4,318

18,883

Total assets less current liabilities

 

60,127

81,064

Provisions for liabilities

(8,680)

(10,000)

Net assets

 

51,447

71,064

Capital and reserves

 

Allotted, called up and fully paid share capital

220

220

Profit and loss account

51,227

70,844

 

51,447

71,064

Total equity

 

51,447

71,064

For the financial year ending 31 December 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.

 

DV8 Stunts Limited

(Registration number: 10539865)
Balance Sheet as at 31 December 2022 (continued)

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 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

These financial statements have been delivered to the Registrar of Companies 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 and directors' report has been taken.

Approved and authorised by the director on 30 September 2023
 

.........................................
Mr RJ Wheeldon
Director

 

DV8 Stunts Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 10539865.

The address of its registered office is:
8 Cedar Close
Ashbourne
Derbyshire
DE6 1FJ
England

These financial statements were authorised for issue by the director on 30 September 2023.

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.

The presentation currency is £ sterling.

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.

 

DV8 Stunts Limited

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

2

Accounting policies (continued)

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.

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

Computer equipment

25% straight line basis

Plant and machinery

25% reducing balance basis

Motor vehicles

20% reducing balance basis

Buildings

5% straight line basis

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

DV8 Stunts Limited

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

2

Accounting policies (continued)

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.

3

Staff numbers

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

 

DV8 Stunts Limited

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2022

12,027

3,402

38,495

46,501

100,425

Additions

-

1,114

-

6,219

7,333

At 31 December 2022

12,027

4,516

38,495

52,720

107,758

Depreciation

At 1 January 2022

1,300

1,599

14,925

20,420

38,244

Charge for the year

601

830

4,714

7,560

13,705

At 31 December 2022

1,901

2,429

19,639

27,980

51,949

Carrying amount

At 31 December 2022

10,126

2,087

18,856

24,740

55,809

At 31 December 2021

10,727

1,803

23,570

26,081

62,181

Included within the net book value of land and buildings above is £Nil (2021 - £Nil) in respect of freehold land and buildings and £10,126 (2021 - £10,727) in respect of short leasehold land and buildings.
 

 

DV8 Stunts Limited

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

5

Debtors

Current

2022
£

2021
£

Trade debtors

1,124

695

Prepayments

2,265

1,162

Other debtors

145

-

 

3,534

1,857

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

7

-

8,056

Taxation and social security

 

3,282

20,089

Accruals and deferred income

 

2,133

1,523

Other creditors

 

14,940

18,984

 

20,355

48,652

Creditors: amounts falling due after more than one year

2022
£

2021
£

7

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

HP and finance lease liabilities

-

8,056

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,750 (2021 - £1,750). The financial commitments relate to operating lease payments due.