Acorah Software Products - Accounts Production 14.5.601 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 08155844 Mr Daniel Bruce iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08155844 2022-07-31 08155844 2023-07-31 08155844 2022-08-01 2023-07-31 08155844 frs-core:CurrentFinancialInstruments 2023-07-31 08155844 frs-core:Non-currentFinancialInstruments 2023-07-31 08155844 frs-core:FurnitureFittings 2023-07-31 08155844 frs-core:FurnitureFittings 2022-08-01 2023-07-31 08155844 frs-core:FurnitureFittings 2022-07-31 08155844 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-31 08155844 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-08-01 2023-07-31 08155844 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-07-31 08155844 frs-core:MotorVehicles 2023-07-31 08155844 frs-core:MotorVehicles 2022-08-01 2023-07-31 08155844 frs-core:MotorVehicles 2022-07-31 08155844 frs-core:PlantMachinery 2023-07-31 08155844 frs-core:PlantMachinery 2022-08-01 2023-07-31 08155844 frs-core:PlantMachinery 2022-07-31 08155844 frs-core:ShareCapital 2023-07-31 08155844 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 08155844 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08155844 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 08155844 frs-bus:SmallEntities 2022-08-01 2023-07-31 08155844 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 08155844 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 08155844 frs-bus:Director1 2022-08-01 2023-07-31 08155844 frs-countries:EnglandWales 2022-08-01 2023-07-31 08155844 2021-07-31 08155844 2022-07-31 08155844 2021-08-01 2022-07-31 08155844 frs-core:CurrentFinancialInstruments 2022-07-31 08155844 frs-core:Non-currentFinancialInstruments 2022-07-31 08155844 frs-core:ShareCapital 2022-07-31 08155844 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 08155844
DRB Electrical Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Golding Accountancy
ACCA
15 Eastwood Road
Rayleigh
Essex
SS6 7JD
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08155844
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,360 14,022
31,360 14,022
CURRENT ASSETS
Stocks 5 4,000 4,000
Debtors 6 109,030 83,195
Cash at bank and in hand 31,272 94,708
144,302 181,903
Creditors: Amounts Falling Due Within One Year 7 (67,206 ) (61,058 )
NET CURRENT ASSETS (LIABILITIES) 77,096 120,845
TOTAL ASSETS LESS CURRENT LIABILITIES 108,456 134,867
Creditors: Amounts Falling Due After More Than One Year 8 - (36,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,700 ) (2,700 )
NET ASSETS 101,756 95,500
CAPITAL AND RESERVES
Called up share capital 9 101 101
Profit and Loss Account 101,655 95,399
SHAREHOLDERS' FUNDS 101,756 95,500
Page 1
Page 2
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 member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Daniel Bruce
Director
28 September 2023
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
DRB Electrical Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08155844 . The registered office is 10 Bilton Road, Benfleet, SS7 2HH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 33% Straight Line
Plant & Machinery 33% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 33% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 4 4
4 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 August 2022 - 15,826 29,726 3,491 49,043
Additions 4,412 965 23,400 1,442 30,219
Disposals - - (5,000 ) - (5,000 )
As at 31 July 2023 4,412 16,791 48,126 4,933 74,262
Depreciation
As at 1 August 2022 - 13,058 18,797 3,166 35,021
Provided during the period 236 2,141 4,942 600 7,919
Disposals - - (38 ) - (38 )
As at 31 July 2023 236 15,199 23,701 3,766 42,902
Net Book Value
As at 31 July 2023 4,176 1,592 24,425 1,167 31,360
As at 1 August 2022 - 2,768 10,929 325 14,022
5. Stocks
2023 2022
£ £
Stock 4,000 -
Finished goods - 4,000
4,000 4,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 55,299 12,326
Prepayments and accrued income 42,874 58,387
Other debtors 10,397 10,397
VAT 460 2,085
109,030 83,195
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 11,234 27,300
Bank loans and overdrafts 36,669 10,000
Corporation tax 6,588 15,344
Other taxes and social security 3,299 7,541
Net wages 212 -
Other creditors - 6
Accruals and deferred income 188 188
Director's loan account 9,016 679
67,206 61,058
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 36,667
- 36,667
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 101 101
Page 5