Company registration number 04189268 (England and Wales)
DJP DOMESTIC APPLIANCES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
DJP DOMESTIC APPLIANCES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
DJP DOMESTIC APPLIANCES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
50,294
12,637
Investments
4
4,352
4,352
54,646
16,989
Current assets
Stocks
31,000
49,295
Debtors
5
18,648
14,743
Cash at bank and in hand
48,465
137,951
98,113
201,989
Creditors: amounts falling due within one year
6
(83,120)
(147,322)
Net current assets
14,993
54,667
Total assets less current liabilities
69,639
71,656
Provisions for liabilities
(9,556)
(3,159)
Net assets
60,083
68,497
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
59,083
67,497
Total equity
60,083
68,497
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
DJP DOMESTIC APPLIANCES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 July 2024 and are signed on its behalf by:
Mr D J Parker
Director
Company registration number 04189268 (England and Wales)
DJP DOMESTIC APPLIANCES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
DJP Domestic Appliances Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1-3 King Lane, Clitheroe, Lancashire, BB7 1AA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
The directors are not aware of any material uncertainties affecting the company and consider that the company will have sufficient resources to continue trading for the foreseeable future. As a result the directors have continued to adopt the going concern basis in preparing the financial statements.true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for the retailing of domestic appliances, and is shown net of VAT.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% Reducing balance
Motor vehicles
25% Reducing balance
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
DJP DOMESTIC APPLIANCES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Retirement benefits
The company operates a defined contribution scheme for the benefit of its directors. Contributions payable are charged to the profit and loss account in the year they are payable.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
9
8
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
115,817
Additions
40,942
At 31 March 2024
156,759
Depreciation and impairment
At 1 April 2023
103,180
Depreciation charged in the year
3,285
At 31 March 2024
106,465
Carrying amount
At 31 March 2024
50,294
At 31 March 2023
12,637
4
Fixed asset investments
2024
2023
£
£
Investments
4,352
4,352
The investments are shown at cost when acquired in June 1997. The investments are funds in Combined Independent (Holdings) Limited which trades as the Euronics Buying Group. The latest valuation available of the fund was £36,123 at 31 March 2023 (£33,358 as at 31 March 2022).
DJP DOMESTIC APPLIANCES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
8,398
4,109
Other debtors
396
Prepayments and accrued income
10,250
10,238
18,648
14,743
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
46,918
60,839
Amounts owed to group undertakings
28,982
Corporation tax
142
12,568
Other taxation and social security
10,549
20,455
Other creditors
21,248
20,216
Accruals and deferred income
4,263
4,262
83,120
147,322
Included in Other creditors are directors loan account £10,670 (2023 - £6,537).
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000