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Registration number: 03660899

DEEJAY TRUCK REPAIRS LIMITED

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

DEEJAY TRUCK REPAIRS LIMITED

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

DEEJAY TRUCK REPAIRS LIMITED

Company Information

Directors

MR Darren Sean WILSON

MR James Colin WILSON

Company secretary

Mr Colin Daniel WILSON

Registered office

8 Rodborough Road
London
London
NW11 8RY

Accountants

Gilbert, Allan & Co
8 Rodborough Road
London
London
NW11 8RY

 

DEEJAY TRUCK REPAIRS LIMITED

(Registration number: 03660899)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

213,398

189,084

Current assets

 

Debtors

5

447,967

522,224

Cash at bank and in hand

 

23,061

2,447

 

471,028

524,671

Creditors: Amounts falling due within one year

6

(815,589)

(680,558)

Net current liabilities

 

(344,561)

(155,887)

Total assets less current liabilities

 

(131,163)

33,197

Creditors: Amounts falling due after more than one year

6

(156,250)

(144,390)

Net liabilities

 

(287,413)

(111,193)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(287,513)

(111,293)

Shareholders' deficit

 

(287,413)

(111,193)

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 July 2023 and signed on its behalf by:
 

 

DEEJAY TRUCK REPAIRS LIMITED

(Registration number: 03660899)
Balance Sheet as at 28 February 2023

.........................................
MR Darren Sean WILSON
Director

.........................................
MR James Colin WILSON
Director

 

DEEJAY TRUCK REPAIRS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

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

The address of its registered office is:
8 Rodborough Road
London
London
NW11 8RY
United Kingdom

The principal place of business is:
Roka House
Franklin Road
North Fambridge
Essex
CM3 6NF
England

These financial statements were authorised for issue by the Board on 27 July 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

DEEJAY TRUCK REPAIRS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

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

Plant and machinery

20% on reducing balance

Office Equipment

33% on reducing balance

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.

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.

 

DEEJAY TRUCK REPAIRS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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 directors) during the year, was 36 (2022 - 35).

 

DEEJAY TRUCK REPAIRS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2022

36,203

25,676

619,893

681,772

Additions

-

45,010

75,000

120,010

Disposals

-

-

(123,342)

(123,342)

At 28 February 2023

36,203

70,686

571,551

678,440

Depreciation

At 1 March 2022

14,481

17,727

460,480

492,688

Charge for the year

3,620

13,339

38,918

55,877

Eliminated on disposal

-

-

(83,523)

(83,523)

At 28 February 2023

18,101

31,066

415,875

465,042

Carrying amount

At 28 February 2023

18,102

39,620

155,676

213,398

At 28 February 2022

21,722

7,949

159,413

189,084

Included within the net book value of land and buildings above is £18,102 (2022 - £21,722) in respect of short leasehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Trade debtors

447,967

521,274

Other debtors

-

950

 

447,967

522,224

 

DEEJAY TRUCK REPAIRS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

40,688

44,943

Trade creditors

 

356,452

245,816

Taxation and social security

 

93,126

111,651

Accruals and deferred income

 

9,000

8,500

Other creditors

 

316,323

269,648

 

815,589

680,558

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

156,250

144,390

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

56,250

42,943

Other borrowings

100,000

101,447

156,250

144,390

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

4,116

8,391

Hire purchase contracts

35,126

27,872

Other borrowings

1,446

8,680

40,688

44,943