DARLINGTON EMS LIMITED
Registered number: 06961053
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 374 374
Tangible assets 4 254,647 339,521
Investments 5 1,125,000 424,984
1,380,021 764,879
Current assets
Stocks 1,253,788 937,389
Debtors 6 1,433,030 1,210,684
Cash at bank and in hand 27,912 83,723
2,714,730 2,231,796
Creditors: amounts falling due within one year 7 (1,225,185) (920,059)
Net current assets 1,489,545 1,311,737
Total assets less current liabilities 2,869,566 2,076,616
Creditors: amounts falling due after more than one year 8 (109,821) (33,767)
Provisions for liabilities (48,173) (80,053)
Net assets 2,711,572 1,962,796
Capital and reserves
Called up share capital 50,002 50,002
Profit and loss account 2,661,570 1,912,794
Shareholders' funds 2,711,572 1,962,796
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David Darlington
Director
Approved by the board on 7 September 2023
DARLINGTON EMS LIMITED
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 8 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 70 51
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 1,000
At 31 July 2023 1,000
Amortisation
At 1 August 2022 626
At 31 July 2023 626
Net book value
At 31 July 2023 374
At 31 July 2022 374
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Stamp duty Plant and machinery etc Fixtures & fittings Total
£ £ £ £
Cost
At 1 August 2022 8,489 834,262 83,429 926,180
At 31 July 2023 8,489 834,262 83,429 926,180
Depreciation
At 1 August 2022 8,489 512,155 66,015 586,659
Charge for the year - 81,392 3,482 84,874
At 31 July 2023 8,489 593,547 69,497 671,533
Net book value
At 31 July 2023 - 240,715 13,932 254,647
At 31 July 2022 - 322,107 17,414 339,521
5 Investments
Other
investments
£
Cost
At 1 August 2022 424,984
Additions 700,016
At 31 July 2023 1,125,000
6 Debtors 2023 2022
£ £
Trade debtors 1,402,928 814,627
Prepayments 25,822 48,256
Other debtors 4,280 347,801
1,433,030 1,210,684
7 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 2,767 33,205
Trade creditors 412,761 332,276
Deferred income 6,000 8,000
Accruals 74,085 21,053
Other creditors & accruals - 3,207
Other taxes and social security costs 527,208 255,456
Other creditors 202,364 266,862
1,225,185 920,059
8 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 2,767
Directors loan 109,821 31,000
109,821 33,767
9 Other information
DARLINGTON EMS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
UNIT 1A CASTLEHILL
HORSFIELD WAY
BREDBURY PARK IND EST
STOCKPORT
SK6 2SU
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