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Company registration number: 04248493
D & S Ultra-Clean Limited
Unaudited filleted financial statements
31 July 2023
D & S Ultra-Clean Limited
Contents
Statement of financial position
Notes to the financial statements
D & S Ultra-Clean Limited
Statement of financial position
31 July 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 4,632 6,178
_______ _______
4,632 6,178
Current assets
Stocks 21,021 21,771
Debtors 6 117,315 45,691
Cash at bank and in hand 271 49,796
_______ _______
138,607 117,258
Creditors: amounts falling due
within one year 7 ( 115,458) ( 62,571)
_______ _______
Net current assets 23,149 54,687
_______ _______
Total assets less current liabilities 27,781 60,865
Creditors: amounts falling due
after more than one year 8 ( 26,419) ( 40,613)
Provisions for liabilities ( 1,158) ( 1,545)
_______ _______
Net assets 204 18,707
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 104 18,607
_______ _______
Shareholders funds 204 18,707
_______ _______
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 April 2024 , and are signed on behalf of the board by:
Mr Stephen Jones
Director
Company registration number: 04248493
D & S Ultra-Clean Limited
Notes to the financial statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Berkeley Court, Manor Park, Runcorn, Cheshire, WA7 1TQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution pension plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 5 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 August 2022 and 31 July 2023 19,440 19,440
_______ _______
Depreciation
At 1 August 2022 13,262 13,262
Charge for the year 1,546 1,546
_______ _______
At 31 July 2023 14,808 14,808
_______ _______
Carrying amount
At 31 July 2023 4,632 4,632
_______ _______
At 31 July 2022 6,178 6,178
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 98,341 36,099
Amounts owed by group undertakings and undertakings in which the company has a participating interest 6,379 -
Other debtors 12,595 9,592
_______ _______
117,315 45,691
_______ _______
The amount owed from a group undertaking of £6,379 (2022: £nil) is interest free and repayable on demand.
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 9,786 8,944
Trade creditors 70,349 16,523
Social security and other taxes 28,094 26,916
Other creditors 7,229 10,188
_______ _______
115,458 62,571
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 20,752 30,746
Other creditors 5,667 9,867
_______ _______
26,419 40,613
_______ _______
The above bank loan is a government secured Coronavirus Bounce Back Loan which is subject to an interest rate of 2.5% p.a. and repayable in full by June 2026.
9. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2023 2022
£ £
Financial assets that are debt instruments measured at amortised cost
Trade debtors 98,341 36,099
Other debtors 12,595 9,592
Cash at bank and in hand 271 49,796
Amounts owed from group company 6,379 -
_______ _______
117,586 95,487
_______ _______
Financial liabilities measured at amortised cost
Bank and other loans 30,538 39,690
Trade creditors 70,349 16,523
Other creditors 12,896 20,055
Social security and other taxes 28,094 26,916
_______ _______
141,877 103,184
_______ _______
10. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 23,610 23,465
Later than 1 year and not later than 5 years 65,039 85,825
Later than 5 years 760 3,040
_______ _______
89,409 112,330
_______ _______
11. Controlling party
The controlling party of the company is D & S Ultra-Clean Holdings Limited, a company registered in England and Wales , registered office and principal place of business 6 Berkeley Court, Manor Park, Runcorn, England WA7 1TQ .