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REGISTERED NUMBER: 07362528 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

DRS KENT LIMITED

DRS KENT LIMITED (REGISTERED NUMBER: 07362528)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DRS KENT LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTOR: A E Nock





REGISTERED OFFICE: 19 North Street
Ashford
Kent
TN24 8LF





REGISTERED NUMBER: 07362528 (England and Wales)





AUDITORS: Xeinadin Audit Ltd
12 Conqueror Ct
Sittingbourne
Kent
ME10 5BH

DRS KENT LIMITED (REGISTERED NUMBER: 07362528)

BALANCE SHEET
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,041,838 6,401,436

CURRENT ASSETS
Stocks 617,000 579,000
Debtors 5 2,628,895 2,468,148
Cash at bank and in hand 414,198 118,859
3,660,093 3,166,007
CREDITORS
Amounts falling due within one year 6 2,945,202 2,775,349
NET CURRENT ASSETS 714,891 390,658
TOTAL ASSETS LESS CURRENT LIABILITIES 9,756,729 6,792,094

CREDITORS
Amounts falling due after more than one
year

7

(5,194,867

)

(4,061,796

)

PROVISIONS FOR LIABILITIES 8 (765,491 ) (541,862 )
NET ASSETS 3,796,371 2,188,436

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 3,796,271 2,188,336
SHAREHOLDERS' FUNDS 3,796,371 2,188,436

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 director and authorised for issue on 12 December 2023 and were signed by:





A E Nock - Director


DRS KENT LIMITED (REGISTERED NUMBER: 07362528)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

DRS Kent Limited 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.

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 - at varying rates on cost

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.

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.

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.

DRS KENT LIMITED (REGISTERED NUMBER: 07362528)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2022 - 45 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022 - 35,692 14,049 7,326,579 7,376,320
Additions 7,635 8,229 40,574 3,024,902 3,081,340
Disposals - - - (73,463 ) (73,463 )
At 31 October 2023 7,635 43,921 54,623 10,278,018 10,384,197
DEPRECIATION
At 1 November 2022 - 42,790 6,610 925,484 974,884
Charge for year - 863 2,096 392,650 395,609
Eliminated on disposal - - - (28,134 ) (28,134 )
At 31 October 2023 - 43,653 8,706 1,290,000 1,342,359
NET BOOK VALUE
At 31 October 2023 7,635 268 45,917 8,988,018 9,041,838
At 31 October 2022 - (7,098 ) 7,439 6,401,095 6,401,436

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 1,357,067 1,236,634
Amounts owed by group undertakings 429,590 374,837
Other debtors 780,441 786,341
Prepayments 61,797 70,336
2,628,895 2,468,148

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 598,191 495,230
Hire purchase contracts and finance leases 1,689,738 1,453,233
Trade creditors 315,299 689,216
Taxation and social security 314,278 149,478
Other creditors 27,696 (11,808 )
2,945,202 2,775,349

DRS KENT LIMITED (REGISTERED NUMBER: 07362528)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts and finance leases 5,130,202 3,926,715
Other creditors 64,665 135,081
5,194,867 4,061,796

8. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 765,491 541,862

Deferred
tax
£   
Balance at 1 November 2022 541,862
Movement for the year 223,629
Balance at 31 October 2023 765,491

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 November 2022 2,188,336
Profit for the year 1,607,935
At 31 October 2023 3,796,271

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicholas Hume (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Ltd


Xeinadin Audit Ltd

DRS KENT LIMITED (REGISTERED NUMBER: 07362528)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


12. RELATED PARTY DISCLOSURES

Dynes Tyre Services Ltd
2022 2021
£    £   

Amount owed by related party 357,117 363,688


A&J Plant Hire Ltd
2022 2021
£    £   

Amount owed by related party 17,720 39,385