Company Registration No. 03084279 (England and Wales)
Exclusive Drylining Limited
Unaudited accounts
for the year ended 31 July 2023
Exclusive Drylining Limited
Unaudited accounts
Contents
Exclusive Drylining Limited
Company Information
for the year ended 31 July 2023
Directors
D. Hodgetts
J. Hodgetts
Company Number
03084279 (England and Wales)
Registered Office
Brook Barn
Peterbrook Road
Shirley
Solihull
B90 1ED
Accountants
Cris Cox ATT
Central Accountancy Services Ltd
39 Coleshill Close
Redditch
Worcs.
B97 5UN
Exclusive Drylining Limited
Accountants' report
Accountants' report to the board of directors of Exclusive Drylining Limited on the preparation of the unaudited statutory accounts for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Exclusive Drylining Limited for the year ended
31 July 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Exclusive Drylining Limited, as a body, in accordance with the terms of our engagement letter dated 16 September 2016. Our work has been undertaken solely to prepare for your approval the accounts of Exclusive Drylining Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Exclusive Drylining Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Exclusive Drylining 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 profit of Exclusive Drylining Limited. You consider that Exclusive Drylining 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 Exclusive Drylining 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.
Cris Cox ATT
Central Accountancy Services Ltd
39 Coleshill Close
Redditch
Worcs.
B97 5UN
27 October 2023
Exclusive Drylining Limited
Statement of financial position
as at 31 July 2023
Tangible assets
89,102
33,346
Cash at bank and in hand
224,640
411,323
Creditors: amounts falling due within one year
(272,233)
(241,505)
Net current assets
990,421
962,475
Total assets less current liabilities
1,079,523
995,821
Creditors: amounts falling due after more than one year
(66,069)
(30,518)
Provisions for liabilities
Deferred tax
(16,930)
(6,336)
Net assets
996,524
958,967
Called up share capital
100
100
Profit and loss account
996,424
958,867
Shareholders' funds
996,524
958,967
For the year ending 31 July 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 27 October 2023 and were signed on its behalf by
D. Hodgetts
Director
Company Registration No. 03084279
Exclusive Drylining Limited
Notes to the Accounts
for the year ended 31 July 2023
Exclusive Drylining Limited is a private company, limited by shares, registered in England and Wales, registration number 03084279. The registered office is Brook Barn, Peterbrook Road, Shirley, Solihull, B90 1ED.
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.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Exclusive Drylining Limited
Notes to the Accounts
for the year ended 31 July 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 August 2022
22,570
75,643
98,213
Additions
2,617
75,416
78,033
At 31 July 2023
25,187
151,059
176,246
At 1 August 2022
16,151
48,716
64,867
Charge for the year
1,807
20,470
22,277
At 31 July 2023
17,958
69,186
87,144
At 31 July 2023
7,229
81,873
89,102
At 31 July 2022
6,419
26,927
33,346
Amounts falling due within one year
Trade debtors
881,683
601,870
Accrued income and prepayments
9,410
66,629
Other debtors
100,502
57,958
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
11,149
11,149
Obligations under finance leases and hire purchase contracts
15,070
1,164
Trade creditors
188,714
189,170
Taxes and social security
47,808
25,372
Other creditors
3,917
13,005
Loans from directors
5,575
1,645
Exclusive Drylining Limited
Notes to the Accounts
for the year ended 31 July 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
46,480
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).