2022-12-012023-11-302023-11-30false07426499D2 Projects 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D2 Projects Limited

Registered Number
07426499
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

D2 Projects Limited
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

E Devlin

Registered Address

21a Newland
Lincoln
LN1 1XP

Place of Business

The Edge, Woodbank

Skellingthorpe

Lincolnshire

LN6 5UD


Registered Number

07426499 (England and Wales)
D2 Projects Limited
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets531,9234,521
31,9234,521
Current assets
Stocks75,50026,363
Debtors84,80524,054
Cash at bank and on hand1,63761
11,94250,478
Creditors amounts falling due within one year9(8,303)(41,094)
Net current assets (liabilities)3,6399,384
Total assets less current liabilities35,56213,905
Creditors amounts falling due after one year10(28,444)(12,659)
Provisions for liabilities12(6,065)(669)
Net assets1,053577
Capital and reserves
Called up share capital100100
Profit and loss account953477
Shareholders' funds1,053577
The financial statements were approved and authorised for issue by the Director on 17 July 2024, and are signed on its behalf by:
E Devlin
Director
Registered Company No. 07426499
D2 Projects Limited
Notes to the Financial Statements
for the year ended 30 November 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings20
Vehicles25
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year33
5.Property, plant and equipment

Vehicles

Fixtures & fittings

Total

£££
Cost or valuation
At 01 December 2212,2879,86422,151
Additions36,97381937,792
At 30 November 2349,26010,68359,943
Depreciation and impairment
At 01 December 2210,6486,98217,630
Charge for year9,65373710,390
At 30 November 2320,3017,71928,020
Net book value
At 30 November 2328,9592,96431,923
At 30 November 221,6392,8824,521
6.Description of nature of transactions and balances with related parties
During the year an advance was made to the director. At the year end the balance due from the director was £3,379 (2022 - £23,160). Interest was charged at the HM Revenue & Customs official rate for beneficial loans.
7.Stocks

2023

2022

££
Work in progress5,50026,363
Total5,50026,363
8.Debtors

2023

2022

££
Trade debtors / trade receivables-828
Other debtors4,24323,161
Prepayments and accrued income56265
Total4,80524,054
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Bank borrowings and overdrafts4,90010,636
Taxation and social security-18,205
Finance lease and HP contracts1,854-
Other creditors-10,703
Accrued liabilities and deferred income1,5491,550
Total8,30341,094
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The finance lease liabilities are secured on the assets to which they relate.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts7,75912,659
Other creditors20,685-
Total28,44412,659
The other creditors are finance lease liabilities which are secured on the assets to which they relate.
11.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts20,685-
12.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)6,065669
Total6,065669