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REGISTERED NUMBER: 04689563 (England and Wales)















Financial Statements for the Year Ended 30 April 2023

for

D & B Cabinets Ltd

D & B Cabinets Ltd (Registered number: 04689563)

Contents of the Financial Statements
for the Year Ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D & B Cabinets Ltd

Company Information
for the Year Ended 30 April 2023







DIRECTORS: Mr D E Mansfield
Mr B Johnson





SECRETARY: Mrs S M Mansfield





REGISTERED OFFICE: Unit 8
Waverledge Business Park
Great Harwood
Blackburn
Lancashire
BB6 7LS





REGISTERED NUMBER: 04689563 (England and Wales)





ACCOUNTANTS: Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB

D & B Cabinets Ltd (Registered number: 04689563)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 206,746 223,566
206,746 223,566

CURRENT ASSETS
Stocks 6 14,316 12,716
Debtors 7 99,093 99,509
Cash at bank 170,170 109,330
283,579 221,555
CREDITORS
Amounts falling due within one year 8 209,646 185,867
NET CURRENT ASSETS 73,933 35,688
TOTAL ASSETS LESS CURRENT
LIABILITIES

280,679

259,254

CREDITORS
Amounts falling due after more than one
year

9

(63,631

)

(101,105

)

PROVISIONS FOR LIABILITIES 10 (59,540 ) (41,961 )
NET ASSETS 157,508 116,188

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 157,408 116,088
SHAREHOLDERS' FUNDS 157,508 116,188

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

D & B Cabinets Ltd (Registered number: 04689563)

Balance Sheet - continued
30 April 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:




Mr D E Mansfield - Director



Mr B Johnson - Director


D & B Cabinets Ltd (Registered number: 04689563)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. STATUTORY INFORMATION

D & B Cabinets 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.

The financial statements are prepared in accordance with all the applicable accounting standards.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on 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 year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


D & B Cabinets Ltd (Registered number: 04689563)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


2. ACCOUNTING POLICIES - continued
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 year 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 30,000
AMORTISATION
At 1 May 2022
and 30 April 2023 30,000
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 -

D & B Cabinets Ltd (Registered number: 04689563)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


5. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2022 473,034 9,500 10,404 492,938
Additions - 16,995 - 16,995
At 30 April 2023 473,034 26,495 10,404 509,933
DEPRECIATION
At 1 May 2022 252,258 8,126 8,988 269,372
Charge for year 33,117 344 354 33,815
At 30 April 2023 285,375 8,470 9,342 303,187
NET BOOK VALUE
At 30 April 2023 187,659 18,025 1,062 206,746
At 30 April 2022 220,776 1,374 1,416 223,566

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 May 2022
and 30 April 2023 220,000
DEPRECIATION
At 1 May 2022 44,806
Charge for year 26,279
At 30 April 2023 71,085
NET BOOK VALUE
At 30 April 2023 148,915
At 30 April 2022 175,194

6. STOCKS
30.4.23 30.4.22
£    £   
Stock 14,316 12,716

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 96,816 89,886
VAT - 2,752
Prepayments 2,277 6,871
99,093 99,509

D & B Cabinets Ltd (Registered number: 04689563)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 9,788 9,547
Hire purchase contracts 27,687 28,960
Trade creditors 58,550 102,164
Corporation tax 33,913 6,990
VAT 19,324 -
Company credit card 7,808 3,843
Directors' current accounts 28,829 26,516
Accruals 23,747 7,847
209,646 185,867

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans - 1-2 years 10,035 9,788
Bank loans - 2-5 years 19,062 29,097
Hire purchase contracts 34,534 62,220
63,631 101,105

10. PROVISIONS FOR LIABILITIES
30.4.23 30.4.22
£    £   
Deferred tax 59,540 41,961

Deferred
tax
£   
Balance at 1 May 2022 41,961
Utilised during year (2,909 )
Change in rate of tax 20,488
Balance at 30 April 2023 59,540

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
100 Ordinary £1 100 100

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.