DPC Sales & Service Limited 02054671 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is Vehicle sales and hire Digita Accounts Production Advanced 6.30.9574.0 true 02054671 2022-06-01 2023-05-31 02054671 2023-05-31 02054671 bus:OrdinaryShareClass1 2023-05-31 02054671 core:CurrentFinancialInstruments 2023-05-31 02054671 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 02054671 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 02054671 core:FurnitureFittingsToolsEquipment 2023-05-31 02054671 core:LandBuildings 2023-05-31 02054671 core:MotorVehicles 2023-05-31 02054671 core:OtherPropertyPlantEquipment 2023-05-31 02054671 bus:SmallEntities 2022-06-01 2023-05-31 02054671 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 02054671 bus:FullAccounts 2022-06-01 2023-05-31 02054671 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 02054671 bus:RegisteredOffice 2022-06-01 2023-05-31 02054671 bus:Director1 2022-06-01 2023-05-31 02054671 bus:Director2 2022-06-01 2023-05-31 02054671 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 02054671 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 02054671 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 02054671 core:LandBuildings 2022-06-01 2023-05-31 02054671 core:MotorVehicles 2022-06-01 2023-05-31 02054671 core:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 02054671 core:PlantMachinery 2022-06-01 2023-05-31 02054671 countries:EnglandWales 2022-06-01 2023-05-31 02054671 2022-05-31 02054671 core:FurnitureFittingsToolsEquipment 2022-05-31 02054671 core:LandBuildings 2022-05-31 02054671 core:MotorVehicles 2022-05-31 02054671 core:OtherPropertyPlantEquipment 2022-05-31 02054671 2021-06-01 2022-05-31 02054671 2022-05-31 02054671 bus:OrdinaryShareClass1 2022-05-31 02054671 core:CurrentFinancialInstruments 2022-05-31 02054671 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 02054671 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 02054671 core:FurnitureFittingsToolsEquipment 2022-05-31 02054671 core:LandBuildings 2022-05-31 02054671 core:MotorVehicles 2022-05-31 02054671 core:OtherPropertyPlantEquipment 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02054671

DPC Sales & Service Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

DPC Sales & Service Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

DPC Sales & Service Limited

Company Information

Directors

Mrs Elizabeth Helen Chewter

Mr David Peter Chewter

Registered office

Jupps Yard, Fattings Barn
Ditchling Road
Wivellsfield
Haywards Heath
West Sussex
RH17 7RE

Accountants

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

DPC Sales & Service Limited

(Registration number: 02054671)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

979,899

970,753

Current assets

 

Stocks

6

13,495

13,645

Debtors

7

41,265

38,032

Cash at bank and in hand

 

39,473

3,838

 

94,233

55,515

Creditors: Amounts falling due within one year

8

(421,944)

(460,686)

Net current liabilities

 

(327,711)

(405,171)

Total assets less current liabilities

 

652,188

565,582

Creditors: Amounts falling due after more than one year

8

(174,518)

(226,586)

Provisions for liabilities

(160,230)

(82,364)

Net assets

 

317,440

256,632

Capital and reserves

 

Called up share capital

10

1,000

1,000

Retained earnings

316,440

255,632

Shareholders' funds

 

317,440

256,632

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

DPC Sales & Service Limited

(Registration number: 02054671)
Balance Sheet as at 31 May 2023

Approved and authorised by the Board on 31 January 2024 and signed on its behalf by:



 

.........................................

Mr David Peter Chewter

Director

 

DPC Sales & Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Jupps Yard, Fattings Barn
Ditchling Road
Wivellsfield
Haywards Heath
West Sussex
RH17 7RE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

DPC Sales & Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

20% reducing balance

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

DPC Sales & Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 7).

4

Taxation charge

 

DPC Sales & Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

The tax for the period is attributable to:

2023
£

2022
£

Deferred Tax

Arising from origination and reversal of timing differences

77,866

(10,547)

Total deferred tax charge

77,866

(10,547)

Total tax charge for period

77,866

(10,547)

 

DPC Sales & Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2022

121,477

30,138

1,623,788

239,584

2,014,987

Additions

69,793

-

265,303

17,430

352,526

Disposals

-

-

(177,214)

-

(177,214)

At 31 May 2023

191,270

30,138

1,711,877

257,014

2,190,299

Depreciation

At 1 June 2022

121,477

29,495

655,994

237,268

1,044,234

Charge for the year

13,959

214

228,757

6,846

249,776

Eliminated on disposal

-

-

(83,610)

-

(83,610)

At 31 May 2023

135,436

29,709

801,141

244,114

1,210,400

Carrying amount

At 31 May 2023

55,834

429

910,736

12,900

979,899

At 31 May 2022

-

643

967,794

2,316

970,753

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of long leasehold land and buildings and £55,834 (2022 - £Nil) in respect of short leasehold land and buildings.
 

 

DPC Sales & Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

6

Stocks

2023
£

2022
£

Other inventories

13,495

13,645

7

Debtors

Current

2023
£

2022
£

Trade debtors

25,651

22,279

Prepayments

883

2,282

Other debtors

14,731

13,471

 

41,265

38,032

 

DPC Sales & Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

190,116

259,517

Trade creditors

 

31,325

24,358

Taxation and social security

 

69,615

34,871

Accruals and deferred income

 

28,899

4,542

Other creditors

 

101,989

137,398

 

421,944

460,686

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

174,518

226,586

9

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £4.00 (2022 - £4.00) per ordinary share

 

4,000

 

4,000

         

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000