Company Registration No. 09695936 (England and Wales)
DG Drylining Limited
Unaudited accounts
for the year ended 31 July 2023
DG Drylining Limited
Unaudited accounts
Contents
DG Drylining Limited
Company Information
for the year ended 31 July 2023
Company Number
09695936 (England and Wales)
Registered Office
23 BROOKLYN DRIVE
RAYLEIGH
SS6 9LW
ENGLAND
Accountants
The Straightener Limited
83 Ducie Street
Manchester
M1 2JQ
DG Drylining Limited
Statement of financial position
as at 31 July 2023
Tangible assets
22,816
6,033
Cash at bank and in hand
38,996
27,330
Creditors: amounts falling due within one year
(31,983)
(24,243)
Net current assets
16,928
11,314
Total assets less current liabilities
39,744
17,347
Creditors: amounts falling due after more than one year
(7,744)
(11,569)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
27,566
5,002
Shareholders' funds
27,666
5,102
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 February 2024 and were signed on its behalf by
DJ Goodliffe
Director
Company Registration No. 09695936
DG Drylining Limited
Notes to the Accounts
for the year ended 31 July 2023
DG Drylining Limited is a private company, limited by shares, registered in England and Wales, registration number 09695936. The registered office is 23 BROOKLYN DRIVE, RAYLEIGH, SS6 9LW, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. The company has the full financial support of its director and therefore, the director considers that it is appropriate to prepare the financial statements on a going concern basis.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on a reducing balance basis
Computer equipment
25% on a reducing balance basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
DG Drylining Limited
Notes to the Accounts
for the year ended 31 July 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2022
16,475
549
17,024
Disposals
(12,000)
-
(12,000)
At 31 July 2023
26,675
549
27,224
At 1 August 2022
10,911
80
10,991
Charge for the year
1,938
117
2,055
On disposals
(8,638)
-
(8,638)
At 31 July 2023
4,211
197
4,408
At 31 July 2023
22,464
352
22,816
At 31 July 2022
5,564
469
6,033
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
4,320
4,380
Obligations under finance leases and hire purchase contracts
-
1,415
Taxes and social security
11,278
14,901
Loans from directors
15,129
2,291
7
Creditors: amounts falling due after more than one year
2023
2022
DG Drylining Limited
Notes to the Accounts
for the year ended 31 July 2023
8
Average number of employees
During the year the average number of employees was 2 (2022: 1).