Company Registration No. 02069380 (England and Wales)
D.P. Fasteners Limited
Unaudited accounts
for the year ended 31 July 2023
D.P. Fasteners Limited
Unaudited accounts
Contents
D.P. Fasteners Limited
Company Information
for the year ended 31 July 2023
Directors
Matthew James Kenny
Michael Vincent Blakey
Andrew Keith Bennett
Company Number
02069380 (England and Wales)
Registered Office
Unit 16H Follingsby Avenue
Follingsby Park Industrial Estate
Gateshead
Tyne & Wear
NE10 8YF
United Kingdom
D.P. Fasteners Limited
Statement of financial position
as at 31 July 2023
Tangible assets
61,389
65,897
Inventories
1,601,055
2,026,007
Debtors
3,839,905
3,728,218
Cash at bank and in hand
1,731,569
908,336
Creditors: amounts falling due within one year
(1,603,078)
(1,674,946)
Net current assets
5,569,451
4,987,615
Total assets less current liabilities
5,630,840
5,053,512
Creditors: amounts falling due after more than one year
(208,333)
(708,333)
Provisions for liabilities
Other provisions
(125,000)
(66,369)
Net assets
5,297,507
4,278,810
Called up share capital
100,002
100,002
Capital redemption reserve
1
1
Profit and loss account
5,197,504
4,178,807
Shareholders' funds
5,297,507
4,278,810
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 February 2024 and were signed on its behalf by
Michael Vincent Blakey
Director
Company Registration No. 02069380
D.P. Fasteners Limited
Notes to the Accounts
for the year ended 31 July 2023
D.P. Fasteners Limited is a private company, limited by shares, registered in England and Wales, registration number 02069380. The registered office is Unit 16H Follingsby Avenue, Follingsby Park Industrial Estate, Gateshead, Tyne & Wear, NE10 8YF, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10 years straight line
Motor vehicles
5 years straight line
Fixtures & fittings
5 years straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
D.P. Fasteners Limited
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2022
30,564
15,997
81,827
128,388
Additions
1,640
-
1,428
3,068
At 31 July 2023
32,204
15,997
83,255
131,456
At 1 August 2022
30,564
8,758
23,169
62,491
Charge for the year
109
573
6,894
7,576
At 31 July 2023
30,673
9,331
30,063
70,067
At 31 July 2023
1,531
6,666
53,192
61,389
At 31 July 2022
-
7,239
58,658
65,897
Amounts falling due within one year
Trade debtors
1,152,440
1,412,646
Amounts due from group undertakings etc.
2,591,513
2,274,896
Deferred tax asset
8,432
8,432
Accrued income and prepayments
82,770
20,351
Other debtors
4,750
11,893
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
500,000
500,000
Trade creditors
687,642
809,482
Taxes and social security
188,529
259,683
Other creditors
4,411
10,252
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
208,333
708,333
The Industrial Mandate Ltd, Unit16H Follingsby Avenue, Follingsby Industrial Estate, Gateshead, Tyne & Wear NE10 8YF
9
Average number of employees
During the year the average number of employees was 17 (2022: 17).