DSG Formwork & Steelfixing Ltd Filleted Accounts Cover
DSG Formwork & Steelfixing Ltd
Company No. 12289455
Information for Filing with The Registrar
For the Year Ended
31 October 2023
DSG Formwork & Steelfixing Ltd Balance Sheet Registrar
at
31 October 2023
Company No.
12289455
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
65,87127,759
65,87127,759
Current assets
Stocks
5
-13,024
Debtors
6
43,54047,080
Cash at bank and in hand
5042,439
44,04462,543
Creditors: Amount falling due within one year
7
(190,354)
(142,313)
Net current liabilities
(146,310)
(79,770)
Total assets less current liabilities
(80,439)
(52,011)
Creditors: Amounts falling due after more than one year
8
(7,179)
(10,000)
Provisions for liabilities
Deferred taxation
(10,067)
(3,907)
Net liabilities
(97,685)
(65,918)
Capital and reserves
Called up share capital
9
100100
Profit and loss account
10
(97,785)
(66,018)
Total equity
(97,685)
(65,918)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 29 July 2024 and signed on its behalf by:
D.S. Guelbert
Director
29 July 2024
DSG Formwork & Steelfixing Ltd Notes to the Accounts Registrar
for the year ended 31 October 2023
1
General information
DSG Formwork & Steelfixing Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 12289455
Its registered office is:
35 Charles Street
Reading
Berkshire
RG1 7DB
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Going concern
At the balance sheet date, the company had net liabilities of £97,685 (2022 : £65,918). The ability of the company to continue trading is dependent on the continued support of the directors and the company’s creditors. The directors are of the opinion that the company will continue to receive this support and on this basis considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of support by the directors and the creditors of the company.
2
Accounting policies
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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the
delivery of the goods.

Rendering of services
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. Turnover is only recognised to the extent of
recoverable expenses when the outcome of a contract cannot be estimated reliably.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
20% Straight Line
Motor vehicles
20% Straight Line
Furniture, fittings and equipment
20% Straight Line
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value after making due
allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate
proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
£
Cost or revaluation
At 1 November 2022
31,46310,182-41,645
Additions
43,3058,1455,07556,525
At 31 October 2023
74,76818,3275,07598,170
Depreciation
At 1 November 2022
10,9002,986-13,886
Charge for the year
15,2572,45170518,413
At 31 October 2023
26,1575,43770532,299
Net book values
At 31 October 2023
48,61112,8904,37065,871
At 31 October 2022
20,563
7,196
-
27,759
5
Stocks
2023
2022
£
£
Stock
-13,024
-13,024
6
Debtors
2023
2022
£
£
Trade debtors
14,18112,563
VAT recoverable
831665
Other debtors
26,22933,852
Net wages
2,299-
43,54047,080
7
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
18,40718,407
Trade creditors
4,21210,824
Loans from directors
167,134112,782
Accruals and deferred income
601300
190,354142,313
8
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Bank loans
7,17910,000
7,17910,000
9
Share Capital
Share capital includes following:
2023
2022
£
£
100 ordinary shares of £1 each
100
100
100
100
10
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
DSG Formwork & Steelfixing Ltd1228945531 October 202301 November 2022false29 July 2024BTCSoftware AP Solution 2024 11.1.0311.1.03true122894552022-11-012023-10-31122894552023-10-31122894552022-10-3112289455core:WithinOneYear2023-10-3112289455core:WithinOneYear2022-10-3112289455core:AfterOneYear2023-10-3112289455core:AfterOneYear2022-10-3112289455core:ShareCapital2023-10-3112289455core:ShareCapital2022-10-3112289455core:RetainedEarningsAccumulatedLosses2023-10-3112289455core:RetainedEarningsAccumulatedLosses2022-10-3112289455countries:UnitedKingdom2022-11-012023-10-3112289455bus:RegisteredOffice2022-11-012023-10-3112289455core:PlantMachinery2022-11-012023-10-3112289455core:MotorVehicles2022-11-012023-10-3112289455core:FurnitureFittingsToolsEquipment2022-11-012023-10-31122894552021-11-012022-10-3112289455core:PlantMachinery2022-11-0112289455core:MotorVehicles2022-11-0112289455core:FurnitureFittingsToolsEquipment2022-11-01122894552022-11-0112289455core:PlantMachinery2023-10-3112289455core:MotorVehicles2023-10-3112289455core:FurnitureFittingsToolsEquipment2023-10-3112289455core:RetainedEarningsAccumulatedLosses2022-11-012023-10-3112289455bus:SmallEntities2022-11-012023-10-3112289455bus:FullAccounts2022-11-012023-10-3112289455bus:AuditExempt-NoAccountantsReport2022-11-012023-10-3112289455bus:Director12022-11-012023-10-3112289455bus:PrivateLimitedCompanyLtd2022-11-012023-10-31iso4217:GBPxbrli:pure