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Company Registration No. 01642957 (England and Wales)
DISCOUNT BODY PANELS (MIDLANDS) LIMITED Unaudited accounts for the year ended 31 July 2023
DISCOUNT BODY PANELS (MIDLANDS) LIMITED Unaudited accounts Contents
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DISCOUNT BODY PANELS (MIDLANDS) LIMITED Company Information for the year ended 31 July 2023
Directors
Scott Rogers Melvyn Rogers Jeanette Marrs
Company Number
01642957 (England and Wales)
Registered Office
431 WARWICK ROAD GREET BIRMINGHAM B11 2JR
Accountants
AJS Accounting Services Ltd Greville Court Business Centre High Street, Knowle Solihull West Midlands B93 0LL
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DISCOUNT BODY PANELS (MIDLANDS) LIMITED Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
96,193 
118,583 
Current assets
Inventories
105,460 
97,000 
Debtors
136,870 
109,278 
Cash at bank and in hand
225,729 
155,261 
468,059 
361,539 
Creditors: amounts falling due within one year
(365,860)
(247,459)
Net current assets
102,199 
114,080 
Total assets less current liabilities
198,392 
232,663 
Provisions for liabilities
Deferred tax
(17,562)
(17,562)
Net assets
180,830 
215,101 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
180,730 
215,001 
Shareholders' funds
180,830 
215,101 
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 31 October 2023 and were signed on its behalf by
Scott Rogers Director Company Registration No. 01642957
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DISCOUNT BODY PANELS (MIDLANDS) LIMITED Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
DISCOUNT BODY PANELS (MIDLANDS) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 01642957. The registered office is 431 WARWICK ROAD, GREET, BIRMINGHAM, B11 2JR.
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.
3
Accounting policies
These financial statements for the year ended 31 July 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2021. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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:
Land & buildings
not provided
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred taxation
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.
Hire purchase and leasing commitments
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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DISCOUNT BODY PANELS (MIDLANDS) LIMITED Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2022
26,153 
152,200 
67,922 
246,275 
At 31 July 2023
26,153 
152,200 
67,922 
246,275 
Depreciation
At 1 August 2022
- 
66,945 
60,747 
127,692 
Charge for the year
- 
21,314 
1,076 
22,390 
At 31 July 2023
- 
88,259 
61,823 
150,082 
Net book value
At 31 July 2023
26,153 
63,941 
6,099 
96,193 
At 31 July 2022
26,153 
85,255 
7,175 
118,583 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
133,027 
105,434 
Accrued income and prepayments
3,843 
3,844 
136,870 
109,278 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
22,473 
19,311 
Trade creditors
171,267 
113,261 
Taxes and social security
18,224 
13,457 
Proposed dividends
30,000 
- 
Other creditors
16,934 
6,650 
Loans from directors
88,782 
91,600 
Accruals
18,180 
3,180 
365,860 
247,459 
7
Average number of employees
During the year the average number of employees was 8 (2022: 8).
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