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REGISTERED NUMBER: 00976153 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Darnley Auto Works (Strood) Limited

Darnley Auto Works (Strood) Limited (Registered number: 00976153)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Darnley Auto Works (Strood) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr R Mitchell
Mr R M Mitchell





SECRETARY: Mr R Mitchell





REGISTERED OFFICE: Rear of 110 Cuxton Road
Strood
Rochester
Kent
ME2 2JA





REGISTERED NUMBER: 00976153 (England and Wales)





ACCOUNTANTS: Accsys Accountants (Medway) Limited
F39 Innovation Centre Medway
Chatham
Kent
ME5 9FD

Darnley Auto Works (Strood) Limited (Registered number: 00976153)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 16,053 10,710

CURRENT ASSETS
Stocks 900 850
Debtors 5 2,291 2,297
Cash at bank and in hand 24,038 41,967
27,229 45,114
CREDITORS
Amounts falling due within one year 6 5,669 3,735
NET CURRENT ASSETS 21,560 41,379
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,613

52,089

PROVISIONS FOR LIABILITIES - 1,806
NET ASSETS 37,613 50,283

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 37,213 49,883
37,613 50,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:



Mr R Mitchell - Director


Darnley Auto Works (Strood) Limited (Registered number: 00976153)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Darnley Auto Works (Strood) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements relate to the individual entity only.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts. The company recognises income from service contracts when repair work is completed and vehicles are in a condition to be returned to the customer.

Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Plant and equipment 15% on reducing balance
Motor vehicles 25 % on reducing balance

At each Statement of Financial Position date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stock
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where net realisable value is less than cost.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Darnley Auto Works (Strood) Limited (Registered number: 00976153)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Income Statement as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements Plant and Motor
to property equipment vehicles Totals
£ £ £ £
COST
At 1 April 2022 1,400 50,393 17,700 69,493
Additions - 8,995 - 8,995
At 31 March 2023 1,400 59,388 17,700 78,488
DEPRECIATION
At 1 April 2022 1,400 46,647 10,736 58,783
Charge for year - 1,911 1,741 3,652
At 31 March 2023 1,400 48,558 12,477 62,435
NET BOOK VALUE
At 31 March 2023 - 10,830 5,223 16,053
At 31 March 2022 - 3,746 6,964 10,710

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£ £
Other debtors 2,291 2,297

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£ £
Trade creditors 1,449 484
Taxation and social security 742 682
Other creditors 3,478 2,569
5,669 3,735

Darnley Auto Works (Strood) Limited (Registered number: 00976153)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£ £
Within one year 1,320 1,320