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COMPANY REGISTRATION NUMBER: 908212
Dampcure Woodcure/30 Limited
Filleted Unaudited Accounts
31 March 2023
Dampcure Woodcure/30 Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
43,085
55,263
Current assets
Stocks
8,000
8,753
Debtors
6
94,240
82,910
Cash at bank and in hand
55,550
104,340
---------
---------
157,790
196,003
Creditors: amounts falling due within one year
7
( 146,391)
( 160,362)
---------
---------
Net current assets
11,399
35,641
--------
--------
Total assets less current liabilities
54,484
90,904
--------
--------
Net assets
54,484
90,904
--------
--------
Capital and reserves
Called up share capital
8
100
100
Capital redemption reserve
9
100
100
Profit and loss account
9
54,284
90,704
--------
--------
Shareholders funds
54,484
90,904
--------
--------
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 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 31 March 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .
Dampcure Woodcure/30 Limited
Statement of Financial Position (continued)
31 March 2023
These accounts were approved by the board of directors and authorised for issue on 9 November 2023 , and are signed on behalf of the board by:
C L Darling
Director
Company registration number: 908212
Dampcure Woodcure/30 Limited
Notes to the Accounts
Year ended 31 March 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 41 Merton Road, Watford, WD18 0WJ.
2. Statement of compliance
These accounts 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 accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors consider the company to be a going concern as it continues to trade and has sufficient financial resources from which to meet its ongoing debt obligations. As such, the accounts are prepared on the going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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 & Machinery
-
20% reducing balance
Motor Vehicles
-
25% reducing balance
Office Equipment
-
25% reducing balance
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 11 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2022
104,579
92,208
43,853
240,640
Additions
2,973
1,935
4,908
Disposals
( 2,743)
( 15,345)
( 18,088)
---------
--------
--------
---------
At 31 March 2023
104,809
76,863
45,788
227,460
---------
--------
--------
---------
Depreciation
At 1 April 2022
101,029
55,477
28,871
185,377
Charge for the year
1,066
8,642
3,052
12,760
Disposals
( 579)
( 13,183)
( 13,762)
---------
--------
--------
---------
At 31 March 2023
101,516
50,936
31,923
184,375
---------
--------
--------
---------
Carrying amount
At 31 March 2023
3,293
25,927
13,865
43,085
---------
--------
--------
---------
At 31 March 2022
3,550
36,731
14,982
55,263
---------
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
20,482
33,801
Other debtors
73,758
49,109
--------
--------
94,240
82,910
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
93,590
97,233
Social security and other taxes
43,004
49,733
Other creditors
9,797
13,396
---------
---------
146,391
160,362
---------
---------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. Reserves
Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.
10. Contingencies
The company provides 20-year guarantees to its customers in respect of timber and damp treatment and 10-year guarantees for basement waterproofing, all in the normal course of its trade. Due to adequate insurance cover, and in the light of previous experience, no material liability is expected to arise.
11. Related party transactions
The company rents premises from J.Darling (Builders) Ltd, a related company under common control, at an annual rent of £24,000 (2022 - £24,000). At the year end, included within other debtors, is an amount of £23,705 (2022 - £23,705) due from J.Darling (Builders) Ltd. All related party debts are considered repayable on demand.