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Company Registration No. 02069380 (England and Wales)
D.P. Fasteners Limited Unaudited accounts for the year ended 31 July 2023
D.P. Fasteners Limited Unaudited accounts Contents
Page
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D.P. Fasteners Limited Company Information for the year ended 31 July 2023
Directors
Matthew James Kenny Michael Vincent Blakey Andrew Keith Bennett
Company Number
02069380 (England and Wales)
Registered Office
Unit 16H Follingsby Avenue Follingsby Park Industrial Estate Gateshead Tyne & Wear NE10 8YF United Kingdom
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D.P. Fasteners Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
61,389 
65,897 
Current assets
Inventories
1,601,055 
2,026,007 
Debtors
3,839,905 
3,728,218 
Cash at bank and in hand
1,731,569 
908,336 
7,172,529 
6,662,561 
Creditors: amounts falling due within one year
(1,603,078)
(1,674,946)
Net current assets
5,569,451 
4,987,615 
Total assets less current liabilities
5,630,840 
5,053,512 
Creditors: amounts falling due after more than one year
(208,333)
(708,333)
Provisions for liabilities
Other provisions
(125,000)
(66,369)
Net assets
5,297,507 
4,278,810 
Capital and reserves
Called up share capital
100,002 
100,002 
Capital redemption reserve
1 
1 
Profit and loss account
5,197,504 
4,178,807 
Shareholders' funds
5,297,507 
4,278,810 
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 directors acknowledge their 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 of Directors and authorised for issue on 2 February 2024 and were signed on its behalf by
Michael Vincent Blakey Director Company Registration No. 02069380
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D.P. Fasteners Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
D.P. Fasteners Limited is a private company, limited by shares, registered in England and Wales, registration number 02069380. The registered office is Unit 16H Follingsby Avenue, Follingsby Park Industrial Estate, Gateshead, Tyne & Wear, NE10 8YF, United Kingdom.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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:
Plant & machinery
10 years straight line
Motor vehicles
5 years straight line
Fixtures & fittings
5 years straight line
Deferred taxation
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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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D.P. Fasteners Limited Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2022
30,564 
15,997 
81,827 
128,388 
Additions
1,640 
- 
1,428 
3,068 
At 31 July 2023
32,204 
15,997 
83,255 
131,456 
Depreciation
At 1 August 2022
30,564 
8,758 
23,169 
62,491 
Charge for the year
109 
573 
6,894 
7,576 
At 31 July 2023
30,673 
9,331 
30,063 
70,067 
Net book value
At 31 July 2023
1,531 
6,666 
53,192 
61,389 
At 31 July 2022
- 
7,239 
58,658 
65,897 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,152,440 
1,412,646 
Amounts due from group undertakings etc.
2,591,513 
2,274,896 
Deferred tax asset
8,432 
8,432 
Accrued income and prepayments
82,770 
20,351 
Other debtors
4,750 
11,893 
3,839,905 
3,728,218 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
500,000 
500,000 
VAT
98,926 
66,175 
Trade creditors
687,642 
809,482 
Taxes and social security
188,529 
259,683 
Other creditors
4,411 
10,252 
Accruals
123,570 
29,354 
1,603,078 
1,674,946 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
208,333 
708,333 
8
Controlling party
The Industrial Mandate Ltd, Unit16H Follingsby Avenue, Follingsby Industrial Estate, Gateshead, Tyne & Wear NE10 8YF
9
Average number of employees
During the year the average number of employees was 17 (2022: 17).
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