Registered number
03828020
DAB Contract Services Ltd
Filleted Accounts
31 July 2023
DAB Contract Services Ltd
Registered number: 03828020
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 223,662 237,606
Current assets
Work in Progress 2,000 2,000
Stock 200 200
Debtors 4 61,901 41,778
Cash at bank and in hand 331,827 414,951
395,928 458,929
Creditors: amounts falling due within one year 5 (78,953) (101,224)
Net current assets 316,975 357,705
Total assets less current liabilities 540,637 595,311
Creditors: amounts falling due after more than one year 6 (91,470) (105,134)
Net assets 449,167 490,177
Capital and reserves
Called up share capital 101 101
Profit and loss account 449,066 490,076
Shareholders' funds 449,167 490,177
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr David A Beaumont
Director
Approved by the board on 30 April 2024
DAB Contract Services Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 254,322 188,592 81,335 524,249
Additions - 1,802 - 1,802
At 31 July 2023 254,322 190,394 81,335 526,051
Depreciation
At 1 August 2022 34,242 171,066 81,335 286,643
Charge for the year 3,380 12,366 - 15,746
At 31 July 2023 37,622 183,432 81,335 302,389
Net book value
At 31 July 2023 216,700 6,962 - 223,662
At 31 July 2022 220,080 17,526 - 237,606
4 Debtors 2023 2022
£ £
Trade debtors 59,901 39,778
Other debtors 2,000 2,000
61,901 41,778
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 33,804 34,198
Accrued charges 6,630 5,615
Taxation and social security costs 6,292 27,674
Other creditors 22,227 23,737
78,953 101,224
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,461 28,333
Directors' loan 73,009 76,801
91,470 105,134
7
8 Other information
DAB Contract Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
59 Tom Lane
Sheffield
S10 3PA
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