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COMPANY REGISTRATION NUMBER: 06338883
DIESEL CARE SERVICES LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2023
DIESEL CARE SERVICES LTD
STATEMENT OF FINANCIAL POSITION
30 April 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
7,083
5,106
CURRENT ASSETS
Stocks
5,245
2,750
Debtors
6
11,165
18,133
Cash at bank and in hand
44,521
45,461
--------
--------
60,931
66,344
CREDITORS: amounts falling due within one year
7
22,578
25,802
--------
--------
NET CURRENT ASSETS
38,353
40,542
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
45,436
45,648
CREDITORS: amounts falling due after more than one year
8
38,028
39,122
PROVISIONS
1,346
970
--------
--------
NET ASSETS
6,062
5,556
--------
--------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
6,060
5,554
-------
-------
SHAREHOLDERS FUNDS
6,062
5,556
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DIESEL CARE SERVICES LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 9 October 2023 , and are signed on behalf of the board by:
Mr M P Norton Director
Company registration number: 06338883
DIESEL CARE SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3 Trojan Centre, Finedon Road Industrial Estate, Wellingborough, Northamptonshire, NN8 4ST.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revenue recognition The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Equipment - 25% reducing balance
Motor Vehicles - 25% reducing balance
Office Equipment - 33 1/3% straight line basis
Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. TANGIBLE ASSETS
Plant and Equipment
Motor vehicles
Office Equipment
Total
£
£
£
£
Cost
At 1 May 2022
67,247
10,535
4,943
82,725
Additions
4,000
390
4,390
--------
--------
-------
--------
At 30 April 2023
67,247
14,535
5,333
87,115
--------
--------
-------
--------
Depreciation
At 1 May 2022
62,390
10,286
4,943
77,619
Charge for the year
1,221
1,062
130
2,413
--------
--------
-------
--------
At 30 April 2023
63,611
11,348
5,073
80,032
--------
--------
-------
--------
Carrying amount
At 30 April 2023
3,636
3,187
260
7,083
--------
--------
-------
--------
At 30 April 2022
4,857
249
5,106
--------
--------
-------
--------
6. DEBTORS
2023
2022
£
£
Trade debtors
7,865
14,833
Other debtors
3,300
3,300
--------
--------
11,165
18,133
--------
--------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,552
6,216
Trade creditors
6,501
3,506
Corporation tax
3,645
7,015
Social security and other taxes
4,142
4,837
Other creditors
2,738
4,228
--------
--------
22,578
25,802
--------
--------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
38,028
39,122
--------
--------
9. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Later than 1 year and not later than 5 years
8,086
----
-------
10. RELATED PARTY TRANSACTIONS
During the year the company undertook the following transactions with related parties: The directors have advanced monies to the company. At 30 April 2023 the amount due from the company was £1,000 (2022 - £1,460). The loans are unsecured and interest free.