Registered number
10011498
D.B.N & Sons Ltd
Filleted Accounts
31 March 2023
D.B.N & Sons Ltd
Registered number: 10011498
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 102,872 138,872
Current assets
Debtors 5 14,731 16,002
Cash at bank and in hand 113,816 92,130
128,547 108,132
Creditors: amounts falling due within one year 6 (50,821) (62,695)
Net current assets 77,726 45,437
Total assets less current liabilities 180,598 184,309
Creditors: amounts falling due after more than one year 7 (55,558) (71,528)
Net assets 125,040 112,781
Capital and reserves
Called up share capital 100 100
Profit and loss account 124,940 112,681
Shareholders' funds 125,040 112,781
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.
Mr David Newman
Director
Approved by the board on 21 February 2024
D.B.N & Sons Ltd
Notes to the Accounts
for the year ended 31 March 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 10,769
At 31 March 2023 10,769
Amortisation
At 1 April 2022 10,769
At 31 March 2023 10,769
Net book value
At 31 March 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Equipment, fixtures & fittings Motor vehicles Total
£ £ £
Cost
At 1 April 2022 901 183,606 184,507
At 31 March 2023 901 183,606 184,507
Depreciation
At 1 April 2022 901 44,734 45,635
Charge for the year - 36,000 36,000
At 31 March 2023 901 80,734 81,635
Net book value
At 31 March 2023 - 102,872 102,872
At 31 March 2022 - 138,872 138,872
5 Debtors 2023 2022
£ £
Trade debtors 2,508 2,507
Deferred tax asset 7,385 7,385
Other debtors 4,838 6,110
14,731 16,002
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 925 7,765
Corporation tax 10,907 -
Other taxes and social security costs 10,146 15,262
Other creditors 28,843 39,668
50,821 62,695
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 55,558 71,528
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 55,558 71,528
Bounce Back Loan taken in November 2020, repayable over 6 years. First year interest free, 2.5% fixed rate per annum thereafter. Closing balance as of 31st March 2023 was £35,213 (2022: £46,771). Balance relates to a Hire purchase agreement with MAN Financial services, repayable over a 5 year period. Principle loan amount of £29,850.

9 Other information
D.B.N & Sons Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Library, Minerva Centre
Burnham Road
Mundon
Essex
CM9 6NP
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