Company registration number 12188861 (England and Wales)
DJP SERVICES (SOUTH EAST) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
DJP SERVICES (SOUTH EAST) LTD
COMPANY INFORMATION
Directors
Mr David Pullen
Mrs Debbie Pullen
Company number
12188861
Registered office
Star House
Star Hill
Rochester
Kent
ME1 1UX
Accountants
Crossley Financial Accounting
Star House
Star Hill
Rochester
Kent
ME1 1UX
Business address
16 Linwood Avenue
Strood
Rochester
Kent
ME2 3TR
DJP SERVICES (SOUTH EAST) LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
DJP SERVICES (SOUTH EAST) LTD
STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
30,205
33,561
Tangible assets
4
178,896
124,960
209,101
158,521
Current assets
Debtors
5
157,106
194,290
Cash at bank and in hand
225,984
104,830
383,090
299,120
Creditors: amounts falling due within one year
6
(68,330)
(46,178)
Net current assets
314,760
252,942
Total assets less current liabilities
523,861
411,463
Creditors: amounts falling due after more than one year
7
(6,633)
(14,930)
Provisions for liabilities
(44,724)
(31,240)
Net assets
472,504
365,293
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
472,404
365,193
Total equity
472,504
365,293
DJP SERVICES (SOUTH EAST) LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2023
30 September 2023
- 2 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 25 March 2024 and are signed on its behalf by:
Mr David Pullen
Director
Company registration number 12188861 (England and Wales)
DJP SERVICES (SOUTH EAST) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information

DJP Services (South East) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Star House, Star Hill, Rochester, Kent, ME1 1UX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

These financial statements for the year ended 30 September 2023 are the first financial statements of DJP Services (South East) Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 October 2021. An explanation of how transition to FRS 102 has affected the reported financial position and financial performance is given in note 9.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

DJP SERVICES (SOUTH EAST) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33% straight line
Computers
33% straight line
Motor vehicles
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

DJP SERVICES (SOUTH EAST) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
7
7
DJP SERVICES (SOUTH EAST) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2022 and 30 September 2023
46,037
Amortisation and impairment
At 1 October 2022
12,476
Amortisation charged for the year
3,356
At 30 September 2023
15,832
Carrying amount
At 30 September 2023
30,205
At 30 September 2022
33,561
4
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2022
35,219
1,721
122,556
159,496
Additions
16,190
2,518
77,199
95,907
Disposals
(975)
-
0
-
0
(975)
At 30 September 2023
50,434
4,239
199,755
254,428
Depreciation and impairment
At 1 October 2022
12,943
450
21,143
34,536
Depreciation charged in the year
13,500
494
27,029
41,023
Eliminated in respect of disposals
(27)
-
0
-
0
(27)
At 30 September 2023
26,416
944
48,172
75,532
Carrying amount
At 30 September 2023
24,018
3,295
151,583
178,896
At 30 September 2022
22,276
1,271
101,413
124,960
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,028
-
0
Other debtors
152,981
193,486
Prepayments and accrued income
3,097
804
157,106
194,290
DJP SERVICES (SOUTH EAST) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Hire purchase
8,297
7,656
Other borrowings
-
0
547
Trade creditors
986
1,178
Corporation tax
42,607
35,422
Other taxation and social security
14,830
-
0
Accruals and deferred income
1,610
1,375
68,330
46,178
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Hire purchase
6,633
14,930
8
Directors' transactions

During the year, the following transactions took place with the directors':

 

Advances to the director of £591 (2022 - £19,657)

Repayments to the company of £9,229 (2022 - £16,845)

 

As at 30 September 2023 the amount £8,836 was due from the director (2022 - £17,474)

 

All advances are interest free and repayable on demand.

 

9
Reconciliations on adoption of FRS 102
Reconciliation of equity
At 1 October 2021
At 30 September 2022
Previous UK GAAP
Effect of
transition
FRS 102
Previous UK GAAP
Effect of
transition
FRS 102
Notes
£
£
£
£
£
£
Fixed assets
Goodwill
37,290
-
37,290
33,561
-
33,561
Tangible assets
42,081
-
42,081
124,960
-
124,960
79,371
-
79,371
158,521
-
158,521
Current assets
Debtors
124,021
-
124,021
194,290
-
194,290
Bank and cash
110,931
-
110,931
104,830
-
104,830
234,952
-
234,952
299,120
-
299,120
DJP SERVICES (SOUTH EAST) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
9
Reconciliations on adoption of FRS 102
At 1 October 2021
At 30 September 2022
Previous UK GAAP
Effect of
transition
FRS 102
Previous UK GAAP
Effect of
transition
FRS 102
Notes
£
£
£
£
£
£
(Continued)
- 8 -
Creditors due within one year
Loans and overdrafts
(34)
-
(34)
(547)
-
(547)
Finance leases
-
-
-
(7,656)
-
(7,656)
Taxation
(43,699)
-
(43,699)
(35,422)
-
(35,422)
Other creditors
(10,387)
-
(10,387)
(2,553)
-
(2,553)
(54,120)
-
(54,120)
(46,178)
-
(46,178)
Net current assets
180,832
-
180,832
252,942
-
252,942
Total assets less current liabilities
260,203
-
260,203
411,463
-
411,463
Creditors due after one year
Finance leases
-
-
-
(14,930)
-
(14,930)
Provisions for liabilities
Deferred tax
-
(10,520)
(10,520)
(10,520)
(20,720)
(31,240)
Net assets
260,203
(10,520)
249,683
386,013
(20,720)
365,293
Capital and reserves
Share capital
100
-
0
100
100
-
100
Profit and loss
260,103
(10,520)
249,583
385,913
(20,720)
365,193
Total equity
260,203
(10,520)
249,683
386,013
(20,720)
365,293
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