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Registration number: 12460592

Darfield Motor Controls Ltd

Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Darfield Motor Controls Ltd

(Registration number: 12460592)

Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

3

2,200

4,400

Tangible assets

4

-

3,038

 

2,200

7,438

Current assets

 

Stocks

250

1,000

Debtors

5

23,849

18,043

Cash at bank and in hand

 

6,141

15,610

 

30,240

34,653

Creditors: Amounts falling due within one year

6

(2,800)

(30,981)

Net current assets

 

27,440

3,672

Total assets less current liabilities

 

29,640

11,110

Provisions for liabilities

-

(1,518)

Net assets

 

29,640

9,592

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

29,540

9,492

Total equity

 

29,640

9,592

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Darfield Motor Controls Ltd

(Registration number: 12460592)

Balance Sheet as at 29 February 2024

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 17 August 2024 and signed on its behalf by:
 

.........................................

Mr Gareth Ian Hall
Director

 

Darfield Motor Controls Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

Accounting policies

Darfield Motor Controls Ltd is a private company, limited by shares, domiciled in England and Wales, company number 12460592. The registered office is at Unit 4, Barrowfield Business Park, Barrowfield Road,Thurnscoe, Rotherham, S63 0BF.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Grants that do not impose specified future performance-related conditions are recognised in income when the grant proceeds are received or receivable. Grants that impose specified future performance-related conditions are recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in statement of income and retained earnings, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Darfield Motor Controls Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation rate

Office equipment

25% Straight Line

Plant and Machinery

25% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation rate

Goodwill

20% Straight Line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Darfield Motor Controls Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Intangible assets

Goodwill
 £

Total
£

Cost

At 1 March 2023

11,000

11,000

At 29 February 2024

11,000

11,000

Amortisation

At 1 March 2023

6,600

6,600

Amortisation charge

2,200

2,200

At 29 February 2024

8,800

8,800

Carrying amount

At 29 February 2024

2,200

2,200

At 28 February 2023

4,400

4,400

 

Darfield Motor Controls Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost

At 1 March 2023

11,500

650

12,150

At 29 February 2024

11,500

650

12,150

Depreciation

At 1 March 2023

8,625

487

9,112

Charge for the year

2,875

163

3,038

At 29 February 2024

11,500

650

12,150

Carrying amount

At 29 February 2024

-

-

-

At 28 February 2023

2,875

163

3,038

5

Debtors

2024
£

2023
£

Trade debtors

1,938

7,086

Amounts due from group undertakings

6,111

7,895

Prepayments

-

62

Other debtors

15,800

3,000

23,849

18,043

Amounts due from group undertakings are repayable after more than one year.

 

Darfield Motor Controls Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Amounts due to group undertakings

-

29,274

Taxation and social security

1,235

202

Accruals and deferred income

1,410

1,350

Other creditors

155

155

2,800

30,981

7

Parent and ultimate parent undertaking

The company's immediate parent is Londar Holdings Limited, incorporated in England & Wales.