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Registration number: 07071586

Delivery & Installation Solutions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Delivery & Installation Solutions Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Delivery & Installation Solutions Ltd

Company Information

Directors

Mr. Neil Richard Leete

Mrs Hayley Marie Leete

Registered office

222 Wolverton Road
Blakelands
Milton Keynes
Buckinghamshire
MK14 5AB

Accountants

Veracitas Financial Consultants Ltd
Chartered
8 Park View
Tickford Street
Newport Pagnell
Buckinghamshire
MK16 9AD

 

Delivery & Installation Solutions Ltd

(Registration number: 07071586)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

190,122

253,076

Current assets

 

Debtors

5

765,029

726,131

Cash at bank and in hand

 

25,290

14,803

 

790,319

740,934

Creditors: Amounts falling due within one year

6

(352,393)

(351,250)

Net current assets

 

437,926

389,684

Total assets less current liabilities

 

628,048

642,760

Creditors: Amounts falling due after more than one year

6

(291,163)

(396,703)

Net assets

 

336,885

246,057

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

336,785

245,957

Shareholders' funds

 

336,885

246,057

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 November 2023 and signed on its behalf by:
 

 

Delivery & Installation Solutions Ltd

(Registration number: 07071586)
Balance Sheet as at 30 April 2023

.........................................
Mr. Neil Richard Leete
Director

.........................................
Mrs Hayley Marie Leete
Director

 

Delivery & Installation Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
222 Wolverton Road
Blakelands
Milton Keynes
Buckinghamshire
MK14 5AB

These financial statements were authorised for issue by the Board on 13 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Delivery & Installation Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Delivery & Installation Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 46 (2022 - 41).

 

Delivery & Installation Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

78,113

553,206

145,612

776,931

Additions

420

-

-

420

At 30 April 2023

78,533

553,206

145,612

777,351

Depreciation

At 1 May 2022

58,201

372,594

93,060

523,855

Charge for the year

5,083

45,153

13,138

63,374

At 30 April 2023

63,284

417,747

106,198

587,229

Carrying amount

At 30 April 2023

15,249

135,459

39,414

190,122

At 30 April 2022

19,912

180,612

52,552

253,076

5

Debtors

Current

2023
£

2022
£

Trade debtors

24,337

15,980

Other debtors

740,692

710,151

 

765,029

726,131

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

112,904

113,925

Trade creditors

 

49,313

45,863

Taxation and social security

 

190,176

191,462

 

352,393

351,250

Creditors: amounts falling due after more than one year

 

Delivery & Installation Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

291,163

396,703

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

73,206

116,532

Hire purchase contracts

49,051

113,171

Other borrowings

168,906

167,000

291,163

396,703

2023
£

2022
£

Current loans and borrowings

Bank borrowings

48,000

48,285

Hire purchase contracts

64,904

65,640

112,904

113,925