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COMPANY REGISTRATION NUMBER: 00911584
Dove Anodising Limited
Unaudited financial statements
31 March 2024
Dove Anodising Limited
Statement of financial position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
44,157
54,685
Current assets
Stocks
8,129
7,430
Debtors
6
222,706
127,925
Cash at bank and in hand
7,991
130,739
---------
---------
238,826
266,094
Creditors: Amounts falling due within one year
7
( 93,015)
( 109,515)
---------
---------
Net current assets
145,811
156,579
---------
---------
Total assets less current liabilities
189,968
211,264
Creditors: Amounts falling due after more than one year
8
( 22,356)
( 42,104)
Provisions
Taxation including deferred tax
( 11,024)
( 13,624)
---------
---------
Net assets
156,588
155,536
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
156,488
155,436
---------
---------
Shareholders funds
156,588
155,536
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dove Anodising Limited
Statement of financial position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 22 July 2024 , and are signed on behalf of the board by:
R M Emberton
Director
Company registration number: 00911584
Dove Anodising Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor Suite, 2 Hillside Business Park, Bury St Edmunds, Suffolk, IP32 7EA. The trading address of the company is Kelvin Place, Thetford, Norfolk, IP24 3RR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Motor vehicles
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 12 (2023: 12 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
118,900
23,500
142,400
Additions
443
443
---------
-------
---------
At 31 March 2024
119,343
23,500
142,843
---------
-------
---------
Depreciation
At 1 April 2023
83,798
3,917
87,715
Charge for the year
7,054
3,917
10,971
---------
-------
---------
At 31 March 2024
90,852
7,834
98,686
---------
-------
---------
Carrying amount
At 31 March 2024
28,491
15,666
44,157
---------
-------
---------
At 31 March 2023
35,102
19,583
54,685
---------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
87,282
98,243
Amounts owed by group undertakings and undertakings in which the company has a participating interest
131,970
26,413
Other debtors
3,454
3,269
---------
---------
222,706
127,925
---------
---------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
12,900
17,203
Trade creditors
5,942
23,989
Social security and other taxes
57,331
55,561
Other creditors
16,842
12,762
-------
---------
93,015
109,515
-------
---------
Obligations under hire purchase agreements of £6,848 (2023: £6,649) are secured on the assets concerned.
8. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,975
26,875
Other creditors
8,381
15,229
-------
-------
22,356
42,104
-------
-------
Obligations under hire purchase agreements of £8,381 (2023: £15,229) are secured on the assets concerned.
9. Transition to frs102
These are the first financial statements that comply with FRS 102. The company adopted FRS 102 on 1 April 2022. The following adjustments were made in line with the transition:
Debit - Deferred Tax Charge £13,624
Credit - Deferred Tax Provison £13,624
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
1,840
3,680
Later than 1 year and not later than 5 years
1,840
------
------
1,840
5,520
------
------