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REGISTERED NUMBER: 05252290 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

DEPOT RAIL LIMITED

DEPOT RAIL LIMITED (REGISTERED NUMBER: 05252290)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DEPOT RAIL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mr O D Snell
Mrs A E Snell





REGISTERED OFFICE: Unit 5-6
Sandars Road
GAINSBOROUGH
Lincolnshire
DN21 1RZ





REGISTERED NUMBER: 05252290 (England and Wales)





ACCOUNTANTS: Rigel Wolf Ltd
Orion House
28A Spital Terrace
GAINSBOROUGH
Lincolnshire
DN21 2HQ

DEPOT RAIL LIMITED (REGISTERED NUMBER: 05252290)

BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 930,022 845,815
930,022 845,815

CURRENT ASSETS
Stocks 110,117 110,371
Debtors 6 464,504 416,251
Cash at bank and in hand 616,514 631,868
1,191,135 1,158,490
CREDITORS
Amounts falling due within one year 7 572,251 349,735
NET CURRENT ASSETS 618,884 808,755
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,548,906

1,654,570

CREDITORS
Amounts falling due after more than one
year

8

(264,641

)

(272,982

)

PROVISIONS FOR LIABILITIES 10 (3,199 ) (7,750 )
NET ASSETS 1,281,066 1,373,838

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 1,280,966 1,373,738
SHAREHOLDERS' FUNDS 1,281,066 1,373,838

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

DEPOT RAIL LIMITED (REGISTERED NUMBER: 05252290)

BALANCE SHEET - continued
30 SEPTEMBER 2023


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 21 November 2023 and were signed on its behalf by:





Mr O D Snell - Director


DEPOT RAIL LIMITED (REGISTERED NUMBER: 05252290)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Depot Rail 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.

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.

Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services to customers.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of five years.

This amount has now been fully written off.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


DEPOT RAIL LIMITED (REGISTERED NUMBER: 05252290)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 60,000
AMORTISATION
At 1 October 2022
and 30 September 2023 60,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

DEPOT RAIL LIMITED (REGISTERED NUMBER: 05252290)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2022 612,308 256,978 62,500
Additions - 106,062 -
Disposals - (11,280 ) (1,648 )
At 30 September 2023 612,308 351,760 60,852
DEPRECIATION
At 1 October 2022 - 88,969 11,034
Charge for year - 11,283 7,609
Eliminated on disposal - (4,351 ) (914 )
At 30 September 2023 - 95,901 17,729
NET BOOK VALUE
At 30 September 2023 612,308 255,859 43,123
At 30 September 2022 612,308 168,009 51,466

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2022 37,302 12,312 981,400
Additions 12,100 645 118,807
Disposals (12,810 ) (500 ) (26,238 )
At 30 September 2023 36,592 12,457 1,073,969
DEPRECIATION
At 1 October 2022 28,648 6,934 135,585
Charge for year 4,762 1,485 25,139
Eliminated on disposal (11,100 ) (412 ) (16,777 )
At 30 September 2023 22,310 8,007 143,947
NET BOOK VALUE
At 30 September 2023 14,282 4,450 930,022
At 30 September 2022 8,654 5,378 845,815

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 389,234 405,975
Other debtors 55,926 116
Prepayments and accrued income 19,344 10,160
464,504 416,251

DEPOT RAIL LIMITED (REGISTERED NUMBER: 05252290)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 11,940 11,940
Trade creditors 424,984 148,473
Social security and other taxes 21,023 19,548
VAT 109,638 59,733
Other creditors 1,746 2,354
Directors' current accounts 420 2,066
Accruals and deferred income 2,500 105,621
572,251 349,735

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans - 1-2 years 11,940 11,940
Bank loans - 2-5 years 35,820 35,820
Bank loans more 5 yr by instal 216,881 225,222
264,641 272,982

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 216,881 225,222

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank loans 276,581 284,922

10. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax 3,199 7,750

Deferred
tax
£   
Balance at 1 October 2022 7,750
Accelerated capital allowances (4,551 )
Balance at 30 September 2023 3,199

DEPOT RAIL LIMITED (REGISTERED NUMBER: 05252290)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 October 2022 1,373,738
Profit for the year 52,228
Dividends (145,000 )
At 30 September 2023 1,280,966

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors, Mr O D Snell and Mrs A E Snell charged the company £520 (2022 - £520) for use of home as office.

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £145,000 (2022 - £168,000) were paid to the directors .

At 30 September 2023 there was a balance owed by the company to the directors - Mr O D Snell and Mrs A E Snell - of £420 (2022 - £2,066).

This balance has been shown in Creditors.

15. ULTIMATE CONTROLLING PARTY

The ultimate control of the company lies with the two directors, Mr O D Snell and Mrs A E Snell, who between them hold 100% of the issued share capital.