Company Registration Number 07550322 (England and Wales)
D&H COMMERCIAL REPAIRERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
D&H COMMERCIAL REPAIRERS LTD
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 5
D&H COMMERCIAL REPAIRERS LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF D&H COMMERCIAL REPAIRERS LTD FOR THE YEAR ENDED 28 FEBRUARY 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of D&H Commercial Repairers Ltd for the year ended 28 February 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of D&H Commercial Repairers Ltd, as a body, in accordance with the terms of our engagement letter dated 17 September 2020. Our work has been undertaken solely to prepare for your approval the financial statements of D&H Commercial Repairers Ltd and state those matters that we have agreed to state to the board of directors of D&H Commercial Repairers Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D&H Commercial Repairers Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that D&H Commercial Repairers Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of D&H Commercial Repairers Ltd. You consider that D&H Commercial Repairers Ltd 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 financial statements of D&H Commercial Repairers Ltd. 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 financial statements.
Cottons Specialist Services Limited
13 November 2023
Chartered Accountants
Chestnut Field House
Chestnut Field
Rugby
Warwickshire
United Kingdom
CV21 2PD
D&H COMMERCIAL REPAIRERS LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,270
13,425
Current assets
Stocks
42,500
49,000
Debtors
4
329,328
109,340
Cash at bank and in hand
108
371,936
158,340
Creditors: amounts falling due within one year
5
(373,483)
(354,550)
Net current liabilities
(1,547)
(196,210)
Total assets less current liabilities
10,723
(182,785)
Creditors: amounts falling due after more than one year
6
(60,167)
(34,167)
Net liabilities
(49,444)
(216,952)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(49,544)
(217,052)
Total equity
(49,444)
(216,952)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 13 November 2023
Mr D France
Director
Company Registration No. 07550322
D&H COMMERCIAL REPAIRERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information
D&H Commercial Repairers Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 11 Yeldon Court, Finedon Road Industrial Estate, Wellingborough, NN8 4SS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on cost
Fixtures and fittings
20% on cost
Computers
20% on cost
Motor vehicles
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
D&H COMMERCIAL REPAIRERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
12
11
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2022
43,370
12,553
11,579
9,550
77,052
Additions
2,500
3,000
5,500
At 28 February 2023
45,870
12,553
11,579
12,550
82,552
Depreciation and impairment
At 1 March 2022
36,273
12,553
9,938
4,863
63,627
Depreciation charged in the year
3,603
740
2,312
6,655
At 28 February 2023
39,876
12,553
10,678
7,175
70,282
Carrying amount
At 28 February 2023
5,994
901
5,375
12,270
At 28 February 2022
7,097
1,641
4,687
13,425
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
230,950
106,690
Other debtors
14,001
2,500
Prepayments and accrued income
84,377
150
329,328
109,340
D&H COMMERCIAL REPAIRERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
34,000
24,550
Trade creditors
193,534
114,208
Taxation and social security
86,696
156,748
Other creditors
40,135
54,376
Accruals and deferred income
19,118
4,668
373,483
354,550
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
60,167
34,167
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
90
90
90
90
Ordinary A shares of £1 each
10
10
10
10
100
100
100
100