Company Registration No. 14046766 (England and Wales)
DJC MECHANICAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
DJC MECHANICAL LIMITED
COMPANY INFORMATION
Directors
Mr D J Cerrone
(Appointed 14 April 2022)
Miss L E Terry-Hawkins
(Appointed 14 April 2022)
Company number
14046766
Registered office
90 Cockshute Hill
Droitwich
Worcestershire
WR9 7QP
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Starling Bank
5th Floor
London Fruit and Wool Exchange
1 Duval Square
London
E1 6PW
DJC MECHANICAL LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
DJC MECHANICAL LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DJC MECHANICAL LIMITED FOR THE PERIOD ENDED 29 APRIL 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DJC Mechanical Limited for the period ended 29 April 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of DJC Mechanical Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of DJC Mechanical Limited and state those matters that we have agreed to state to the Board of Directors of DJC Mechanical Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DJC Mechanical Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that DJC Mechanical Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of DJC Mechanical Limited. You consider that DJC Mechanical Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of DJC Mechanical Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
11 September 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
DJC MECHANICAL LIMITED
BALANCE SHEET
AS AT 29 APRIL 2023
29 April 2023
- 2 -
2023
Notes
£
£
Fixed assets
Tangible assets
3
107,113
Current assets
Stocks
176,000
Debtors
4
46,428
Cash at bank and in hand
26,869
249,297
Creditors: amounts falling due within one year
5
(192,986)
Net current assets
56,311
Total assets less current liabilities
163,424
Creditors: amounts falling due after more than one year
6
(23,698)
Provisions for liabilities
8
(11,604)
Net assets
128,122
Capital and reserves
Called up share capital
9
100
Profit and loss reserves
128,022
Total equity
128,122

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 29 April 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 period 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.

DJC MECHANICAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 29 APRIL 2023
29 April 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 11 September 2023 and are signed on its behalf by:
Mr D J Cerrone
Director
Company Registration No. 14046766
DJC MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2023
- 4 -
1
Accounting policies
Company information

DJC Mechanical Limited is a private company limited by shares incorporated in England and Wales. The registered office is 90 Cockshute Hill, Droitwich, Worcestershire, WR9 7QP.

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 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

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

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
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 machinery
20% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Taxation

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

DJC MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2023
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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 profit and loss account, 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.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was 2.

DJC MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2023
- 6 -
3
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 14 April 2022
-
0
-
0
-
0
Additions
15,407
97,495
112,902
At 29 April 2023
15,407
97,495
112,902
Depreciation and impairment
At 14 April 2022
-
0
-
0
-
0
Depreciation charged in the period
3,081
2,708
5,789
At 29 April 2023
3,081
2,708
5,789
Carrying amount
At 29 April 2023
12,326
94,787
107,113
4
Debtors
2023
Amounts falling due within one year:
£
Other debtors
46,428
5
Creditors: amounts falling due within one year
2023
£
Trade creditors
30,731
Taxation and social security
12,122
Other creditors
150,133
192,986
6
Creditors: amounts falling due after more than one year
2023
£
Other creditors
23,698
DJC MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2023
- 7 -
7
Secured debts
The following secured debts are included within creditors:
2023
£
Hire purchase contracts
31,823
Hire purchase contracts are secured against the assets to which they relate.
8
Provisions for liabilities
2023
£
Deferred tax liabilities
11,604
9
Called up share capital
2023
£
Ordinary share capital
Issued and fully paid
90 Ordinary A of £1 each
90
10 Ordinary B of £1 each
10
100

During the period, 90 Ordinary A shares of £1 each and 10 Ordinary B shares of £1 each were allotted and fully paid for cash at par.

 

10
Ultimate controlling party

The ultimate controlling party is Mr D J Cerrone.

11
Comparatives

This is the company's first period of trade and therefore there are no comparatives.

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