DSI Installations Limited 04069612 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is that of heating installation Digita Accounts Production Advanced 6.30.9574.0 true 04069612 2022-05-01 2023-04-30 04069612 2023-04-30 04069612 core:ProvisionsDeferredTax 2023-04-30 04069612 core:CurrentFinancialInstruments 2023-04-30 04069612 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 04069612 core:FurnitureFittingsToolsEquipment 2023-04-30 04069612 core:MotorVehicles 2023-04-30 04069612 core:OtherPropertyPlantEquipment 2023-04-30 04069612 bus:SmallEntities 2022-05-01 2023-04-30 04069612 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 04069612 bus:FullAccounts 2022-05-01 2023-04-30 04069612 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 04069612 bus:RegisteredOffice 2022-05-01 2023-04-30 04069612 bus:CompanySecretary1 2022-05-01 2023-04-30 04069612 bus:Director2 2022-05-01 2023-04-30 04069612 bus:Director3 2022-05-01 2023-04-30 04069612 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 04069612 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 04069612 core:MotorVehicles 2022-05-01 2023-04-30 04069612 core:OtherPropertyPlantEquipment 2022-05-01 2023-04-30 04069612 core:PlantMachinery 2022-05-01 2023-04-30 04069612 countries:EnglandWales 2022-05-01 2023-04-30 04069612 2022-04-30 04069612 core:FurnitureFittingsToolsEquipment 2022-04-30 04069612 core:MotorVehicles 2022-04-30 04069612 core:OtherPropertyPlantEquipment 2022-04-30 04069612 2021-05-01 2022-04-30 04069612 2022-04-30 04069612 core:ProvisionsDeferredTax 2022-04-30 04069612 core:CurrentFinancialInstruments 2022-04-30 04069612 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 04069612 core:FurnitureFittingsToolsEquipment 2022-04-30 04069612 core:MotorVehicles 2022-04-30 04069612 core:OtherPropertyPlantEquipment 2022-04-30 iso4217:GBP xbrli:pure

Registration number: 04069612

Prepared for the registrar

DSI Installations Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

DSI Installations Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

DSI Installations Limited

Company Information

Directors

K A Foster

S Foster

Company secretary

K Foster

Registered office

Old Byre, Stoke Street
Nr Cheddar
Somerset
BS27 3UP

Accountants

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

DSI Installations Limited

(Registration number: 04069612)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

85,193

114,839

Current assets

 

Debtors

5

192,048

155,270

Cash at bank and in hand

 

507,357

488,311

 

699,405

643,581

Creditors: Amounts falling due within one year

6

(116,592)

(157,768)

Net current assets

 

582,813

485,813

Total assets less current liabilities

 

668,006

600,652

Deferred tax liabilities

 

(23,862)

(31,274)

Net assets

 

644,144

569,378

Capital and reserves

 

Called up share capital

200

200

Capital redemption reserve

100

100

Profit and loss account

643,844

569,078

Shareholders' funds

 

644,144

569,378

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 3 November 2023 and signed on its behalf by:
 


S Foster
Director

 

DSI Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Old Byre, Stoke Street
Nr Cheddar
Somerset
BS27 3UP

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

DSI Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

15% reducing balance method

Furniture, fittings and equipment

33% reducing balance method

Motor vehicles

25% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

DSI Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

DSI Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was as follows:

 

DSI Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

 

7

Deferred tax

Deferred tax assets and liabilities

2023

Liability
£

Capital allowances in excess of depreciation

23,862

23,862

2022

Liability
£

Capital allowances in excess of depreciation

31,274

31,274

 

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Directors loan account

-

72,683