Registered number
08597730
DPS Plastering Ltd
Unaudited Filleted Accounts
31 March 2024
DPS Plastering Ltd
Registered number: 08597730
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,000 2,000
Tangible assets 4 2,880 2,321
3,880 4,321
Current assets
Debtors 5 29,820 37,028
Cash at bank and in hand 2,790 869
32,610 37,897
Creditors: amounts falling due within one year 6 (14,976) (13,970)
Net current assets 17,634 23,927
Total assets less current liabilities 21,514 28,248
Creditors: amounts falling due after more than one year 7 (3,900) (8,883)
Net assets 17,614 19,365
Capital and reserves
Called up share capital 100 100
Profit and loss account 17,514 19,265
Shareholders' funds 17,614 19,365
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Stelfox
Director
Approved by the board on 8 August 2024
DPS Plastering Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Tools and equipment 20% straight line
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 10,000
At 31 March 2024 10,000
Amortisation
At 1 April 2023 8,000
Provided during the year 1,000
At 31 March 2024 9,000
Net book value
At 31 March 2024 1,000
At 31 March 2023 2,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 216 12,140 12,356
Additions 1,182 - 1,182
At 31 March 2024 1,398 12,140 13,538
Depreciation
At 1 April 2023 57 9,978 10,035
Charge for the year 83 540 623
At 31 March 2024 140 10,518 10,658
Net book value
At 31 March 2024 1,258 1,622 2,880
At 31 March 2023 159 2,162 2,321
5 Debtors 2024 2023
£ £
Trade debtors 2,104 1,793
Other debtors 27,716 35,235
29,820 37,028
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,975 4,900
Taxation and social security costs 8,530 8,706
Other creditors 1,471 364
14,976 13,970
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,900 8,883
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
D Stelfox
Loan 1 21,279 47,459 (54,765) 13,973
21,279 47,459 (54,765) 13,973
9 Other information
DPS Plastering Ltd is a private company limited by shares and incorporated in England. Its registered office is:
300 St Marys Road
Garston
Liverpool
Merseyside
L19 0NQ
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