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COMPANY REGISTRATION NUMBER: 04839227
DJ & M Bower Tarmac Surfacing Limited
Filleted Unaudited Financial Statements
31 July 2023
DJ & M Bower Tarmac Surfacing Limited
Financial Statements
Year ended 31 July 2023
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
DJ & M Bower Tarmac Surfacing Limited
Officers and Professional Advisers
The board of directors Mrs M Bower
- Director
Mr D Bower
- Director
Company secretary
Mrs M Bower
Registered office
Alexandra House
123 Priestsic Road
Sutton-in-Ashfield
Nottinghamshire
NG17 4EA
Accountants
Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton in Ashfield
Nottinghamshire
NG17 4EA
DJ & M Bower Tarmac Surfacing Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
23,681
14,172
Current assets
Stocks
8,580
Debtors
6
41,572
76,054
Cash at bank and in hand
19,558
31,500
--------
---------
69,710
107,554
Creditors: amounts falling due within one year
7
52,230
70,806
--------
---------
Net current assets
17,480
36,748
--------
--------
Total assets less current liabilities
41,161
50,920
Provisions
4,499
--------
--------
Net assets
36,662
50,920
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
36,562
50,820
--------
--------
Shareholders funds
36,662
50,920
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DJ & M Bower Tarmac Surfacing Limited
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 14 February 2024 , and are signed on behalf of the board by:
Mrs M Bower
Director
Company registration number: 04839227
DJ & M Bower Tarmac Surfacing Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alexandra House, 123 Priestsic Road, Sutton-in-Ashfield, Nottinghamshire, NG17 4EA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 5 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2022
29,262
2,834
21,349
53,445
Additions
17,578
17,578
--------
-------
--------
--------
At 31 July 2023
29,262
2,834
38,927
71,023
--------
-------
--------
--------
Depreciation
At 1 August 2022
25,591
2,201
11,481
39,273
Charge for the year
1,000
208
6,861
8,069
--------
-------
--------
--------
At 31 July 2023
26,591
2,409
18,342
47,342
--------
-------
--------
--------
Carrying amount
At 31 July 2023
2,671
425
20,585
23,681
--------
-------
--------
--------
At 31 July 2022
3,671
633
9,868
14,172
--------
-------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
18,906
58,295
Other debtors
22,666
17,759
--------
--------
41,572
76,054
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
24,080
13,036
Corporation tax
14,123
Social security and other taxes
9,270
6,803
Other creditors
18,880
36,844
--------
--------
52,230
70,806
--------
--------
8. Directors' advances, credits and guarantees
At the balance sheet date, the directors were owed £14,736 (2022: £32,700) by the company.