Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-312022-08-01falseNo description of principal activity2223truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05356050 2022-08-01 2023-07-31 05356050 2021-08-01 2022-07-31 05356050 2023-07-31 05356050 2022-07-31 05356050 2021-08-01 05356050 c:Director1 2022-08-01 2023-07-31 05356050 d:PlantMachinery 2022-08-01 2023-07-31 05356050 d:PlantMachinery 2023-07-31 05356050 d:PlantMachinery 2022-07-31 05356050 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05356050 d:MotorVehicles 2022-08-01 2023-07-31 05356050 d:MotorVehicles 2023-07-31 05356050 d:MotorVehicles 2022-07-31 05356050 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05356050 d:FurnitureFittings 2022-08-01 2023-07-31 05356050 d:FurnitureFittings 2023-07-31 05356050 d:FurnitureFittings 2022-07-31 05356050 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05356050 d:OfficeEquipment 2022-08-01 2023-07-31 05356050 d:OfficeEquipment 2023-07-31 05356050 d:OfficeEquipment 2022-07-31 05356050 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05356050 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05356050 d:Goodwill 2022-08-01 2023-07-31 05356050 d:Goodwill 2023-07-31 05356050 d:Goodwill 2022-07-31 05356050 d:CurrentFinancialInstruments 2023-07-31 05356050 d:CurrentFinancialInstruments 2022-07-31 05356050 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 05356050 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 05356050 d:ShareCapital 2023-07-31 05356050 d:ShareCapital 2022-07-31 05356050 d:RetainedEarningsAccumulatedLosses 2023-07-31 05356050 d:RetainedEarningsAccumulatedLosses 2022-07-31 05356050 c:OrdinaryShareClass1 2022-08-01 2023-07-31 05356050 c:OrdinaryShareClass1 2023-07-31 05356050 c:OrdinaryShareClass1 2022-07-31 05356050 c:OrdinaryShareClass2 2022-08-01 2023-07-31 05356050 c:OrdinaryShareClass2 2023-07-31 05356050 c:OrdinaryShareClass2 2022-07-31 05356050 c:OrdinaryShareClass3 2022-08-01 2023-07-31 05356050 c:OrdinaryShareClass3 2023-07-31 05356050 c:OrdinaryShareClass3 2022-07-31 05356050 c:OrdinaryShareClass4 2022-08-01 2023-07-31 05356050 c:OrdinaryShareClass4 2023-07-31 05356050 c:OrdinaryShareClass4 2022-07-31 05356050 c:OrdinaryShareClass5 2022-08-01 2023-07-31 05356050 c:OrdinaryShareClass5 2023-07-31 05356050 c:OrdinaryShareClass5 2022-07-31 05356050 c:FRS102 2022-08-01 2023-07-31 05356050 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 05356050 c:FullAccounts 2022-08-01 2023-07-31 05356050 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05356050 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 05356050 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 05356050 2 2022-08-01 2023-07-31 05356050 6 2022-08-01 2023-07-31 05356050 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-07-31 05356050 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-07-31 05356050 d:LeasedAssetsHeldAsLessee 2023-07-31 05356050 d:LeasedAssetsHeldAsLessee 2022-07-31 05356050 d:Goodwill d:OwnedIntangibleAssets 2022-08-01 2023-07-31 05356050 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 05356050














D & D AUTOS (ASHFORD) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JULY 2023

 
D & D AUTOS (ASHFORD) LIMITED
REGISTERED NUMBER: 05356050

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
                                                                     Note

Fixed assets
  

Intangible assets
 4 
14,000
21,000

Tangible assets
 5 
96,113
112,124

Investments
 6 
20
20

  
110,133
133,144

Current assets
  

Stocks
  
49,832
38,114

Debtors: amounts falling due within one year
 7 
203,822
145,437

Cash at bank and in hand
 8 
296,627
134,923

  
550,281
318,474

Creditors: amounts falling due within one year
 9 
(270,982)
(182,333)

Net current assets
  
 
 
279,299
 
 
136,141

Total assets less current liabilities
  
389,432
269,285

Provisions for liabilities
  

Deferred tax
 10 
(11,794)
(14,357)

  
 
 
(11,794)
 
 
(14,357)

Net assets
  
£377,638
£254,928


Capital and reserves
  

Called up share capital 
 11 
110
110

Profit and loss account
  
377,528
254,818

  
£377,638
£254,928


Page 1

 
D & D AUTOS (ASHFORD) LIMITED
REGISTERED NUMBER: 05356050

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 April 2024.




___________________________
D Pestridge
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
D & D AUTOS (ASHFORD) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

D & D Autos (Ashford) Limited is a private company limited by shares, incorporated in England and Wales. The company registration number is 05356050 and the registered office of the company is Henwood House, Henwood, Ashford, Kent, TN24 8DH. The principal place of buisness is Moat Way, Orbital Park, Ashford, Kent, TN24 0TT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
D & D AUTOS (ASHFORD) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.3

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% -20%
Motor vehicles
-
25%
Property improvements
-
15%
Office equipment
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 4

 
D & D AUTOS (ASHFORD) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Page 5

 
D & D AUTOS (ASHFORD) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 6

 
D & D AUTOS (ASHFORD) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 7

 
D & D AUTOS (ASHFORD) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 -23).


4.


Intangible assets




Goodwill



Cost


At 1 August 2022
140,000



At 31 July 2023

140,000



Amortisation


At 1 August 2022
119,000


Charge for the year on owned assets
7,000



At 31 July 2023

126,000



Net book value



At 31 July 2023
£14,000



At 31 July 2022
£21,000



Page 8

 
D & D AUTOS (ASHFORD) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Property improve-ments
Office equipment
Total



Cost or valuation


At 1 August 2022
326,414
37,234
117,617
38,075
519,340


Additions
758
-
-
1,158
1,916



At 31 July 2023

327,172
37,234
117,617
39,233
521,256



Depreciation


At 1 August 2022
271,756
33,290
75,266
26,904
407,216


Charge for the year on owned assets
8,876
988
6,351
1,712
17,927



At 31 July 2023

280,632
34,278
81,617
28,616
425,143



Net book value



At 31 July 2023
£46,540
£2,956
£36,000
£10,617
£96,113



At 31 July 2022
£54,658
£3,944
£42,351
£11,171
£112,124

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022



Plant and machinery
9,779
12,222

£9,779
£12,222


6.


Fixed asset investments





Other fixed asset investments



Cost or valuation


At 1 August 2022
20



At 31 July 2023
£20




Page 9

 
D & D AUTOS (ASHFORD) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Debtors

2023
2022


Trade debtors
31,743
24,820

Amounts owed by group undertakings
167,204
115,237

Other debtors
2,505
2,505

Prepayments and accrued income
2,370
2,875

£203,822
£145,437



8.


Cash and cash equivalents

2023
2022

Cash at bank and in hand
296,627
134,923

£296,627
£134,923



9.


Creditors: Amounts falling due within one year

2023
2022

Trade creditors
81,520
52,695

Corporation tax
108,687
65,729

Other taxation and social security
65,745
47,508

Other creditors
6,411
8,249

Accruals and deferred income
8,619
8,152

£270,982
£182,333


Page 10

 
D & D AUTOS (ASHFORD) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

10.


Deferred taxation




2023
2022





At beginning of year
14,357
15,772


Charged to profit or loss
(2,563)
(1,415)



At end of year
£11,794
£14,357

The provision for deferred taxation is made up as follows:

2023
2022


Accelerated capital allowances
£11,794
£14,357


11.


Share capital

2023
2022
Allotted, called up and fully paid



45 (2022 -45) 'A' ordinary shares of £1.00 each
45
45
40 (2022 -40) 'B' ordinary shares of £1.00 each
40
40
10 (2022 -10) 'C' ordinary shares of £1.00 each
10
10
10 (2022 -10) 'D' ordinary shares of £1.00 each
10
10
5 (2022 -5) 'E' ordinary shares of £1.00 each
5
5

£110

£110



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,200 (2022: £11,088). Contributions totalling £1,782 (2022: £1,594) were payable to the fund at the balance sheet date and are included in creditors.


13.
Ultimate parent undertaking and controlling party

At the balance sheet date, the immediate and ultimate parent undertaking is Pestridge Holdings Limited, a company incorporated in England and Wales. 
Pestridge Holdings Limited is the controlling party of the company.
The company is exempt from the requirement of preparing consolidated financial statements as it is a subsidiary undertaking of a small group under section 383 of the Companies Act 2006.
 


Page 11