Company Registration No. 10943396 (England and Wales)
D & J Nash Ltd
Unaudited accounts
for the year ended 31 January 2023
D & J Nash Ltd
Unaudited accounts
Contents
D & J Nash Ltd
Statement of financial position
as at 31 January 2023
Tangible assets
151,621
138,365
Investment property
9,224,637
9,203,064
Cash at bank and in hand
26,247
48,400
Creditors: amounts falling due within one year
(1,118,130)
(1,253,532)
Net current liabilities
(941,451)
(1,036,781)
Total assets less current liabilities
8,434,807
8,304,648
Creditors: amounts falling due after more than one year
(1,455,000)
(1,455,000)
Provisions for liabilities
Deferred tax
(1,018,004)
(1,012,890)
Net assets
5,961,803
5,836,758
Called up share capital
20,000
20,000
Share premium
2,440,424
2,440,424
Profit and loss account
3,501,379
3,376,334
Shareholders' funds
5,961,803
5,836,758
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 May 2023 and were signed on its behalf by
D W Nash
Director
Company Registration No. 10943396
D & J Nash Ltd
Notes to the Accounts
for the year ended 31 January 2023
D & J Nash Ltd is a private company, limited by shares, registered in England and Wales, registration number 10943396. The registered office is 2 Bailey Hill, Castle Cary, Somerset, BA7 7AD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
10% straight line
Computer equipment
25% straight line
D & J Nash Ltd
Notes to the Accounts
for the year ended 31 January 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 February 2022
132,827
38,132
25,480
3,734
200,173
Additions
2,396
32,000
-
1,324
35,720
At 31 January 2023
135,223
70,132
25,480
5,058
235,893
At 1 February 2022
29,519
22,045
8,326
1,918
61,808
Charge for the year
11,386
7,688
2,639
751
22,464
At 31 January 2023
40,905
29,733
10,965
2,669
84,272
At 31 January 2023
94,318
40,399
14,515
2,389
151,621
At 31 January 2022
103,308
16,087
17,154
1,816
138,365
Fair value at 1 February 2022
9,203,064
At 31 January 2023
9,224,637
Amounts falling due within one year
Trade debtors
118,914
138,237
Accrued income and prepayments
6,765
5,361
Other debtors
24,753
24,753
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
21,275
36,349
Taxes and social security
26,254
57,604
Loans from directors
963,069
1,035,865
D & J Nash Ltd
Notes to the Accounts
for the year ended 31 January 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
1,305,000
1,305,000
Other creditors
150,000
150,000
Aggregate of amounts that fall due for payment after five years
1,305,000
1,305,000
The bank borrowing of £1,305,000 is secured against the company's assets.
9
Deferred taxation
2023
2022
Accelerated capital allowances
37,906
32,792
Revaluation of land and buildings
980,098
980,098
Provision at start of year
1,012,890
-
Charged to the profit and loss account
5,114
1,012,890
Provision at end of year
1,018,004
1,012,890
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).