IRIS Accounts Production v24.1.0.578 07043163 Board of Directors 1.4.22 30.9.23 30.9.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh070431632022-03-31070431632023-09-30070431632022-04-012023-09-30070431632021-03-31070431632021-04-012022-03-31070431632022-03-3107043163ns15:EnglandWales2022-04-012023-09-3007043163ns14:PoundSterling2022-04-012023-09-3007043163ns10:Director12022-04-012023-09-3007043163ns10:PrivateLimitedCompanyLtd2022-04-012023-09-3007043163ns10:SmallEntities2022-04-012023-09-3007043163ns10:AuditExemptWithAccountantsReport2022-04-012023-09-3007043163ns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-09-3007043163ns10:SmallCompaniesRegimeForAccounts2022-04-012023-09-3007043163ns10:FullAccounts2022-04-012023-09-3007043163ns10:Director22022-04-012023-09-3007043163ns10:Director32022-04-012023-09-3007043163ns10:RegisteredOffice2022-04-012023-09-3007043163ns5:CurrentFinancialInstruments2023-09-3007043163ns5:CurrentFinancialInstruments2022-03-3107043163ns5:Non-currentFinancialInstruments2023-09-3007043163ns5:Non-currentFinancialInstruments2022-03-3107043163ns5:ShareCapital2023-09-3007043163ns5:ShareCapital2022-03-3107043163ns5:RetainedEarningsAccumulatedLosses2023-09-3007043163ns5:RetainedEarningsAccumulatedLosses2022-03-3107043163ns5:PlantMachinery2022-04-012023-09-3007043163ns5:PlantMachinery2022-03-3107043163ns5:PlantMachinery2023-09-3007043163ns5:PlantMachinery2022-03-3107043163ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3007043163ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3107043163ns5:CurrentFinancialInstruments2022-04-012023-09-30
REGISTERED NUMBER: 07043163 (England and Wales)










DOOR SYSTEM INSTALLATIONS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2022 TO 30 SEPTEMBER 2023






DOOR SYSTEM INSTALLATIONS LTD (REGISTERED NUMBER: 07043163)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

DOOR SYSTEM INSTALLATIONS LTD

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023







DIRECTORS: J A Manny
Ms E Maldzinski
D K Thomas





REGISTERED OFFICE: C/O Bevan Buckland LLP
Ground Floor, Cardigan House
Swansea
SA7 9LA





REGISTERED NUMBER: 07043163 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

DOOR SYSTEM INSTALLATIONS LTD (REGISTERED NUMBER: 07043163)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,667 29,816

CURRENT ASSETS
Stocks 140,154 158,051
Debtors 5 174,245 202,826
Cash at bank 175,849 8,166
490,248 369,043
CREDITORS
Amounts falling due within one year 6 330,158 310,946
NET CURRENT ASSETS 160,090 58,097
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,757

87,913

CREDITORS
Amounts falling due after more than one year 7 (42,699 ) (38,791 )

PROVISIONS FOR LIABILITIES (4,451 ) (5,665 )
NET ASSETS 160,607 43,457

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 160,507 43,357
160,607 43,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

DOOR SYSTEM INSTALLATIONS LTD (REGISTERED NUMBER: 07043163)

BALANCE SHEET - continued
30 SEPTEMBER 2023



The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2024 and were signed on its behalf by:





J A Manny - Director


DOOR SYSTEM INSTALLATIONS LTD (REGISTERED NUMBER: 07043163)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Door System Installations Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% reducing balance, 25% reducing balance and 15% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

DOOR SYSTEM INSTALLATIONS LTD (REGISTERED NUMBER: 07043163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

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 trade and other receivables 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.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies 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 receipts discounted at a market rate of interest.

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

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


DOOR SYSTEM INSTALLATIONS LTD (REGISTERED NUMBER: 07043163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Cash at bank and in hand
Cash at bank and in hand 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.

Debtors
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.

Creditors
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.

Provision for liabilities
Provisions are recognised when the company has a present obligation (legal and constructive) from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 81,520
Additions 36,186
Disposals (18,094 )
At 30 September 2023 99,612
DEPRECIATION
At 1 April 2022 51,704
Charge for period 13,023
Eliminated on disposal (12,782 )
At 30 September 2023 51,945
NET BOOK VALUE
At 30 September 2023 47,667
At 31 March 2022 29,816

DOOR SYSTEM INSTALLATIONS LTD (REGISTERED NUMBER: 07043163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 30 SEPTEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 161,117 19,034
Amounts owed by associates 8,000 -
Other debtors 5,128 183,792
174,245 202,826

Deducted in trade debtors are subject to invoice discounting arrangement of £208,189 (2022: £154,259).

At the year end, there is an amount of £8,000 owed from PH7 Engineering Ltd, a company which both Mr J Manny and Mr D Thomas are both directors.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,454 9,355
Hire purchase contracts 9,264 10,658
Trade creditors 127,249 88,015
Amounts owed to group undertakings 30,500 -
Taxation and social security 98,142 38,617
Other creditors 56,549 164,301
330,158 310,946

At the year end, included in other creditors is an amount of £23,558 (2022: £42,925) owed as a loan to the former shareholder.

At the year end, there is an amount of £30,500 (2022: £0) owed to J Manny Ltd, the parent company of Door System Installations Ltd.

The above are on terms that are interest-free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 18,958 32,704
Hire purchase contracts 23,741 6,087
42,699 38,791

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire Purchase 39,555 16,745

There is a debenture which contains a fixed and floating charge over all the property or undertaking of the company.

The company's lender Ultimate Finance Limited holds the following security:

Contains a fixed and floating charge over all present and future property and land or undertaking of the company.

Contains a negative pledge.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DOOR SYSTEM INSTALLATIONS LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Door System Installations Ltd for the period ended 30 September 2023 which comprise the Income Statement, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Door System Installations Ltd, 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 Door System Installations Ltd and state those matters that we have agreed to state to the Board of Directors of Door System Installations Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Door System Installations Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Door System Installations Ltd 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 Door System Installations Ltd. You consider that Door System Installations Ltd 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 Door System Installations Ltd. 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.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


19 March 2024