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Company Registration No. 12800520 (England and Wales)
DRS FLOORING LTD Unaudited accounts for the year ended 31 August 2023
DRS FLOORING LTD Unaudited accounts Contents
Page
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DRS FLOORING LTD Company Information for the year ended 31 August 2023
Director
DANIEL ROBERT SKATE
Company Number
12800520 (England and Wales)
Registered Office
21 CLEVELAND AVENUE NORTH HYKEHAM LINCOLN LN6 9TH ENGLAND
Accountants
CALCUL8 LIMITED 57 HIGH STREET SAXILBY LINCOLN LINCOLNSHIRE LN1 2HA
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DRS FLOORING LTD Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
49,942 
56,753 
Current assets
Debtors
24,894 
46,730 
Cash at bank and in hand
90,548 
88,264 
115,442 
134,994 
Creditors: amounts falling due within one year
(33,173)
(39,548)
Net current assets
82,269 
95,446 
Total assets less current liabilities
132,211 
152,199 
Creditors: amounts falling due after more than one year
(37,498)
(38,526)
Provisions for liabilities
Deferred tax
(616)
(4,497)
Net assets
94,097 
109,176 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
94,087 
109,166 
Shareholders' funds
94,097 
109,176 
For the year ending 31 August 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 director acknowledges his 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 and authorised for issue on 13 November 2023 and were signed on its behalf by
DANIEL ROBERT SKATE Director Company Registration No. 12800520
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DRS FLOORING LTD Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
DRS FLOORING LTD is a private company, limited by shares, registered in England and Wales, registration number 12800520. The registered office is 21 CLEVELAND AVENUE, NORTH HYKEHAM, LINCOLN, LN6 9TH, ENGLAND.
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
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods and services is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
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:
Plant & machinery
15% Reducing balance
Motor vehicles
25% Reducing balance
Computer equipment
15% Reducing balance
Leased assets
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. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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.
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DRS FLOORING LTD Notes to the Accounts for the year ended 31 August 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 September 2022
694 
67,203 
- 
67,897 
Additions
1,234 
52,145 
591 
53,970 
Disposals
- 
(55,417)
- 
(55,417)
At 31 August 2023
1,928 
63,931 
591 
66,450 
Depreciation
At 1 September 2022
17 
11,127 
- 
11,144 
Charge for the year
208 
5,757 
59 
6,024 
On disposals
- 
(660)
- 
(660)
At 31 August 2023
225 
16,224 
59 
16,508 
Net book value
At 31 August 2023
1,703 
47,707 
532 
49,942 
At 31 August 2022
677 
56,076 
- 
56,753 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
12,415 
26,624 
Other debtors
12,479 
20,106 
24,894 
46,730 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
(6,363)
3,573 
Obligations under finance leases and hire purchase contracts
13,417 
10,826 
Trade creditors
9,666 
7,376 
Taxes and social security
16,442 
17,682 
Loans from directors
11 
91 
33,173 
39,548 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
37,498 
38,526 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
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DRS FLOORING LTD Notes to the Accounts for the year ended 31 August 2023
9
Transactions with related parties
Dividends of £80,600 (2022: £28,200) were declared in relation to this financial year.
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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