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REGISTERED NUMBER: 10624924 (England and Wales)















DBS-Projects Ltd

Unaudited Financial Statements for the Year Ended 31 March 2023






DBS-Projects Ltd (Registered number: 10624924)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DBS-Projects Ltd

Company Information
for the Year Ended 31 March 2023







Director: D B Sayer





Registered office: 5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP





Business address: Hillcote
Kings Loke
Hemsby
Norfolk
NR29 4HN





Registered number: 10624924 (England and Wales)





Accountants: Fairhead Bradford
5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP

DBS-Projects Ltd (Registered number: 10624924)

Statement of Financial Position
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 47,575 49,303

Current assets
Debtors 5 83,477 189,107
Cash at bank 250,723 110,527
334,200 299,634
Creditors
Amounts falling due within one year 6 118,586 113,555
Net current assets 215,614 186,079
Total assets less current liabilities 263,189 235,382

Creditors
Amounts falling due after more than one
year

7

(34,260

)

(42,192

)

Provisions for liabilities (6,645 ) (6,860 )
Net assets 222,284 186,330

Capital and reserves
Called up share capital 100 100
Retained earnings 222,184 186,230
Shareholders' funds 222,284 186,330

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

DBS-Projects Ltd (Registered number: 10624924)

Statement of Financial Position - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 October 2023 and were signed by:





D B Sayer - Director


DBS-Projects Ltd (Registered number: 10624924)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. Statutory information

DBS-Projects Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


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 revenue earned under a wide variety of contracts to provide services.

Revenue is recognised as earned when, and to the extent that, the company earns the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to customers, including expenses and disbursements but excluding value added tax.

Revenue is recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts, the amount of revenue reflects the accrual for the right to consideration by reference to the value of work performed. Revenue not billed to customers in included in trade debtors.

Sales income that is contingent on events outside the control of the company are recognised when the contingent event occurs.

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.
Freehold property - 4% on cost
Tools and equipment - 33% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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 statement of financial position date.


DBS-Projects Ltd (Registered number: 10624924)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 8 (2022 - 8 ) .

4. Tangible fixed assets
Freehold Tools and Office Motor
property equipment equipment vehicles Totals
£    £    £    £    £   
Cost
At 1 April 2022 15,000 1,907 20,940 59,398 97,245
Additions - 7,380 1,780 - 9,160
At 31 March 2023 15,000 9,287 22,720 59,398 106,405
Depreciation
At 1 April 2022 1,800 1,498 12,240 32,404 47,942
Charge for year 600 899 2,666 6,723 10,888
At 31 March 2023 2,400 2,397 14,906 39,127 58,830
Net book value
At 31 March 2023 12,600 6,890 7,814 20,271 47,575
At 31 March 2022 13,200 409 8,700 26,994 49,303

DBS-Projects Ltd (Registered number: 10624924)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 April 2022
and 31 March 2023 28,948
Depreciation
At 1 April 2022 19,082
Charge for year 2,466
At 31 March 2023 21,548
Net book value
At 31 March 2023 7,400
At 31 March 2022 9,866

5. Debtors: amounts falling due within one year
31/3/23 31/3/22
£    £   
Trade debtors 80,767 186,543
Other debtors 2,710 2,564
83,477 189,107

6. Creditors: amounts falling due within one year
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 2,376 6,329
Trade creditors 67,282 41,844
Taxation and social security 36,499 38,749
Other creditors 6,873 21,077
118,586 113,555

7. Creditors: amounts falling due after more than one year
31/3/23 31/3/22
£    £   
Bank loans 34,260 39,816
Hire purchase contracts - 2,376
34,260 42,192

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,037 17,593