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Registered number: 10816935
S Dowthwaite Fga Dga Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Hub Accountants Limited
Chartered Accountants
1C Fridays Court
3-5 High Street
Ringwood
Hampshire
BH24 1AB
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of S Dowthwaite Fga Dga Limited For The Year Ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of S Dowthwaite Fga Dga Limited For The Year Ended 30 June 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of S Dowthwaite Fga Dga Limited , as a body, in accordance with the terms of our engagement letter dated 29 July 2023. Our work has been undertaken solely to prepare for your approval the accounts of S Dowthwaite Fga Dga Limited and state those matters that we have agreed to state to the director of S Dowthwaite Fga Dga Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S Dowthwaite Fga Dga Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that S Dowthwaite Fga Dga Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of S Dowthwaite Fga Dga Limited . You consider that S Dowthwaite Fga Dga Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of S Dowthwaite Fga Dga Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
2nd August 2024
Hub Accountants Limited
Chartered Accountants
1C Fridays Court
3-5 High Street
Ringwood
Hampshire
BH24 1AB
Page 1
Page 2
Balance Sheet
Registered number: 10816935
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,200 4,800
Tangible Assets 5 7,806 5,843
12,006 10,643
CURRENT ASSETS
Stocks 6 25,336 17,007
Debtors 7 3,244 4,034
Cash at bank and in hand 51,257 23,903
79,837 44,944
Creditors: Amounts Falling Due Within One Year 8 (28,609 ) (19,028 )
NET CURRENT ASSETS (LIABILITIES) 51,228 25,916
TOTAL ASSETS LESS CURRENT LIABILITIES 63,234 36,559
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,350 ) (1,350 )
NET ASSETS 61,884 35,209
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 61,883 35,208
SHAREHOLDERS' FUNDS 61,884 35,209
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Page 3
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Stephanie Dowthwaite
Director
2nd August 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
S Dowthwaite Fga Dga Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10816935 . The registered office is 39 High Street, Shaftesbury, Dorset, SP7 8JE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 25% p.a. on a reducing balance basis
Plant & Machinery 25% p.a. on a reducing balance basis
Fixtures & Fittings 25% p.a. on a reducing balance basis
Computer Equipment 25% p.a. on a reducing balance basis
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2.5. Stocks and Work in Progress
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.
2.6. 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 statement of comprehensive income 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 timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
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4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 6,000
As at 30 June 2024 6,000
Amortisation
As at 1 July 2023 1,200
Provided during the period 600
As at 30 June 2024 1,800
Net Book Value
As at 30 June 2024 4,200
As at 1 July 2023 4,800
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 6,262 1,472 3,649 3,620 15,003
Additions - 3,865 - - 3,865
As at 30 June 2024 6,262 5,337 3,649 3,620 18,868
Depreciation
As at 1 July 2023 3,620 573 2,712 2,255 9,160
Provided during the period 660 665 235 342 1,902
As at 30 June 2024 4,280 1,238 2,947 2,597 11,062
Net Book Value
As at 30 June 2024 1,982 4,099 702 1,023 7,806
As at 1 July 2023 2,642 899 937 1,365 5,843
6. Stocks
2024 2023
£ £
Stock 25,336 17,007
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13 180
Other debtors 3,231 3,854
3,244 4,034
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,323 -
Other creditors 9,435 9,796
Taxation and social security 13,851 9,232
28,609 19,028
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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