First Diesel Injection (Croydon) Limited 00518970 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is diesel specialist engineers and auto-electrical work. Digita Accounts Production Advanced 6.30.9574.0 true true 00518970 2022-04-01 2023-03-31 00518970 2023-03-31 00518970 core:CurrentFinancialInstruments 2023-03-31 00518970 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 00518970 core:Non-currentFinancialInstruments 2023-03-31 00518970 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 00518970 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 00518970 core:MotorVehicles 2023-03-31 00518970 core:PlantMachinery 2023-03-31 00518970 bus:SmallEntities 2022-04-01 2023-03-31 00518970 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 00518970 bus:FullAccounts 2022-04-01 2023-03-31 00518970 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 00518970 bus:RegisteredOffice 2022-04-01 2023-03-31 00518970 bus:Director1 2022-04-01 2023-03-31 00518970 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00518970 bus:Agent1 2022-04-01 2023-03-31 00518970 core:LandBuildings core:LongLeaseholdAssets 2022-04-01 2023-03-31 00518970 core:LeaseholdImprovements 2022-04-01 2023-03-31 00518970 core:MotorVehicles 2022-04-01 2023-03-31 00518970 core:PlantMachinery 2022-04-01 2023-03-31 00518970 countries:EnglandWales 2022-04-01 2023-03-31 00518970 2022-03-31 00518970 core:LandBuildings core:LongLeaseholdAssets 2022-03-31 00518970 core:MotorVehicles 2022-03-31 00518970 core:PlantMachinery 2022-03-31 00518970 2021-04-01 2022-03-31 00518970 2022-03-31 00518970 core:CurrentFinancialInstruments 2022-03-31 00518970 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 00518970 core:Non-currentFinancialInstruments 2022-03-31 00518970 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 00518970 core:LandBuildings core:LongLeaseholdAssets 2022-03-31 00518970 core:MotorVehicles 2022-03-31 00518970 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 00518970

First Diesel Injection (Croydon) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

First Diesel Injection (Croydon) Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

First Diesel Injection (Croydon) Limited

Company Information

Director

P C Bourne

Registered office

D S House
306 High Street
Croydon
Surrey
CR0 1NG

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
First Diesel Injection (Croydon) Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of First Diesel Injection (Croydon) Limited for the year ended 31 March 2023 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of First Diesel Injection (Croydon) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of First Diesel Injection (Croydon) Limited and state those matters that we have agreed to state to the Board of Directors of First Diesel Injection (Croydon) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First Diesel Injection (Croydon) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that First Diesel Injection (Croydon) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of First Diesel Injection (Croydon) Limited. You consider that First Diesel Injection (Croydon) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of First Diesel Injection (Croydon) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

2 October 2023

 

First Diesel Injection (Croydon) Limited

(Registration number: 00518970)
Statement of Financial Position as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

671

895

Current assets

 

Stocks

26,325

9,723

Debtors

5

161

27,748

Cash at bank and in hand

 

10,527

12,900

 

37,013

50,371

Creditors: Amounts falling due within one year

6

(102,779)

(63,278)

Net current liabilities

 

(65,766)

(12,907)

Total assets less current liabilities

 

(65,095)

(12,012)

Creditors: Amounts falling due after more than one year

6

(11,225)

(16,204)

Net liabilities

 

(76,320)

(28,216)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(76,420)

(28,316)

Shareholders' deficit

 

(76,320)

(28,216)

For the financial year ending 31 March 2023 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.

 

First Diesel Injection (Croydon) Limited

(Registration number: 00518970)
Statement of Financial Position as at 31 March 2023 (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.

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 director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 2 October 2023
 

P C Bourne
Director

   
     
 

First Diesel Injection (Croydon) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
D S House
306 High Street
Croydon
Surrey
CR0 1NG
England

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

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.

Summary of disclosure exemptions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Going concern

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

 

First Diesel Injection (Croydon) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Leasehold property

The lease period

Plant and machinery

25% Reducing Balance Method

Motor Vehicles

25% Reducing Balance Method

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.

 

First Diesel Injection (Croydon) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 income statement 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.

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.

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.

 

First Diesel Injection (Croydon) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (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.

Financial instruments

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2022 - 6).

 

First Diesel Injection (Croydon) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

4

Tangible assets

Long leasehold land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

14,357

148,873

39,237

202,467

At 31 March 2023

14,357

148,873

39,237

202,467

Depreciation

At 1 April 2022

14,357

148,205

39,010

201,572

Charge for the year

-

167

57

224

At 31 March 2023

14,357

148,372

39,067

201,796

Carrying amount

At 31 March 2023

-

501

170

671

At 31 March 2022

-

668

227

895

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of long leasehold land and buildings.
 

 

First Diesel Injection (Croydon) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

5

Debtors

Current

2023
£

2022
£

Trade debtors

-

27,748

Prepayments

161

-

 

161

27,748

 

First Diesel Injection (Croydon) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

10,525

4,851

Trade creditors

 

37,045

13,777

Amounts owed to group undertakings

6,838

6,941

Taxation and social security

 

8,422

19,788

Accruals and deferred income

 

1,450

1,350

Other creditors

 

38,499

16,571

 

102,779

63,278

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

11,225

16,204

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

11,225

16,204

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,978

4,851

Bank overdrafts

5,547

-

10,525

4,851