Registered number
04273650
D-GREASE (UK) LTD
Filleted Accounts
31 August 2023
D-GREASE (UK) LTD
Registered number: 04273650
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,165,192 1,074,561
Current assets
Stocks 60,000 60,000
Debtors 4 235,106 222,863
Cash at bank and in hand 494,923 496,184
790,029 779,047
Creditors: amounts falling due within one year 5 (273,362) (291,369)
Net current assets 516,667 487,678
Total assets less current liabilities 1,681,859 1,562,239
Creditors: amounts falling due after more than one year 6 (27,690) (35,482)
Provisions for liabilities (221,386) (226,999)
Net assets 1,432,783 1,299,758
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,432,781 1,299,756
Shareholders' funds 1,432,783 1,299,758
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D I White
Director
Approved by the board on 9 November 2023
D-GREASE (UK) LTD
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings & equipment 20% reducing balance
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 11
3 Tangible fixed assets
Fixtures, fittings & equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 86,911 1,083,981 616,718 1,787,610
Additions 8,775 111,928 199,190 319,893
At 31 August 2023 95,686 1,195,909 815,908 2,107,503
Depreciation
At 1 September 2022 49,036 356,973 307,040 713,049
Charge for the year 9,330 125,840 94,092 229,262
At 31 August 2023 58,366 482,813 401,132 942,311
Net book value
At 31 August 2023 37,320 713,096 414,776 1,165,192
At 31 August 2022 37,875 727,008 309,678 1,074,561
4 Debtors 2023 2022
£ £
Trade debtors 229,856 219,061
Other debtors 5,250 3,802
235,106 222,863
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 11,878
Trade creditors 43,277 109,715
Taxation and social security costs 148,434 106,550
Other creditors 71,651 63,226
273,362 291,369
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 27,690 35,482
7 Other information
D-GREASE (UK) LTD is a private company limited by shares and incorporated in England. Its registered office is:
Shawfield Road
Carlton Industrial Estate
Carlton
Barnsley
S71 3HS
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