Company Registration No. 05101026 (England and Wales)
H J DISMANTLING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
H J DISMANTLING LIMITED
COMPANY INFORMATION
Director
Mr H N J Joy
Company number
05101026
Registered office
21 Bampton Street
Tiverton
Devon
EX16 6AA
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
Business address
Pear Tree Cottage
Nomansland
Tiverton
Devon
EX16 8NN
H J DISMANTLING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
H J DISMANTLING LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
20,710
26,415
Current assets
Stocks
-
2,870
Debtors
5
4,050
4,728
Cash at bank and in hand
36,480
53,557
40,530
61,155
Creditors: amounts falling due within one year
6
(33,680)
(39,061)
Net current assets
6,850
22,094
Total assets less current liabilities
27,560
48,509
Provisions for liabilities
(3,934)
(5,018)
Net assets
23,626
43,491
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
23,625
43,490
Total equity
23,626
43,491
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 23 October 2023
Mr H N J Joy
Director
Company Registration No. 05101026
H J DISMANTLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 2 -
1
Accounting policies
Company information
H J Dismantling Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Going concern
Following the global impact of 'Covid-19', atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for services net of VAT.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% reducing balance
Computer equipment
3 years straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks comprise work in progress and are stated at the lower of cost and net realisable value.
H J DISMANTLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 3 -
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.7
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 01 (2022 - 1).
H J DISMANTLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
20,000
Amortisation and impairment
At 1 May 2022 and 30 April 2023
20,000
Carrying amount
At 30 April 2023
At 30 April 2022
4
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2022 and 30 April 2023
68,051
1,774
76,417
146,242
Depreciation and impairment
At 1 May 2022
58,866
1,699
59,262
119,827
Depreciation charged in the year
1,378
38
4,289
5,705
At 30 April 2023
60,244
1,737
63,551
125,532
Carrying amount
At 30 April 2023
7,807
37
12,866
20,710
At 30 April 2022
9,185
75
17,155
26,415
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
4,050
4,728
6
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
3,507
3,513
Other taxation and social security
1,709
1,782
Other creditors
27,401
32,543
Accruals and deferred income
1,063
1,223
33,680
39,061
H J DISMANTLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary shares of £1 each
1
1