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REGISTERED NUMBER: 01773887 (England and Wales)



















DERBY PLATING SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






DERBY PLATING SERVICES LIMITED (REGISTERED NUMBER: 01773887)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


DERBY PLATING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr J E Cholerton
Mrs E M Cholerton





REGISTERED OFFICE: 81 Burton Road
Derby
Derbyshire
DE1 1TJ





REGISTERED NUMBER: 01773887 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

DERBY PLATING SERVICES LIMITED (REGISTERED NUMBER: 01773887)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 742,538 760,114

CURRENT ASSETS
Stocks 5 22,730 22,730
Debtors 6 114,065 133,714
Cash at bank and in hand 127,087 101,193
263,882 257,637
CREDITORS
Amounts falling due within one year 7 179,148 184,867
NET CURRENT ASSETS 84,734 72,770
TOTAL ASSETS LESS CURRENT LIABILITIES 827,272 832,884

CREDITORS
Amounts falling due after more than one year 8 (70,829 ) (85,338 )

PROVISIONS FOR LIABILITIES (37,215 ) (37,872 )
NET ASSETS 719,228 709,674

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Revaluation reserve 11 175,579 179,219
Capital redemption reserve 1,000 1,000
Retained earnings 541,649 528,455
SHAREHOLDERS' FUNDS 719,228 709,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DERBY PLATING SERVICES LIMITED (REGISTERED NUMBER: 01773887)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





Mr J E Cholerton - Director


DERBY PLATING SERVICES LIMITED (REGISTERED NUMBER: 01773887)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Derby Plating Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost or deemed cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

DERBY PLATING SERVICES LIMITED (REGISTERED NUMBER: 01773887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 705,842 603,185 18,299
Additions - 30,283 575
At 31 December 2023 705,842 633,468 18,874
DEPRECIATION
At 1 January 2023 145,055 422,037 9,810
Charge for year 14,119 31,722 1,360
At 31 December 2023 159,174 453,759 11,170
NET BOOK VALUE
At 31 December 2023 546,668 179,709 7,704
At 31 December 2022 560,787 181,148 8,489

DERBY PLATING SERVICES LIMITED (REGISTERED NUMBER: 01773887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 23,230 4,556 1,355,112
Additions - 1,117 31,975
At 31 December 2023 23,230 5,673 1,387,087
DEPRECIATION
At 1 January 2023 13,715 4,381 594,998
Charge for year 1,903 447 49,551
At 31 December 2023 15,618 4,828 644,549
NET BOOK VALUE
At 31 December 2023 7,612 845 742,538
At 31 December 2022 9,515 175 760,114

If the freehold property had not been revalued it would have been included at the following historical cost:

20232022
£ £
Cost523,827523,827

Aggregate depreciation152,728142,259

Value of land in freehold land and buildings--

The freehold property was valued by the directors on an open market basis as at 31 December 2023 and they consider the asset to be fairly stated.

5. STOCKS
2023 2022
£    £   
Raw materials 22,730 22,730

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 108,303 128,509
Prepayments and accrued income 5,762 5,205
114,065 133,714

DERBY PLATING SERVICES LIMITED (REGISTERED NUMBER: 01773887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,000 13,174
Trade creditors 4,626 11,120
Corporation tax 20,884 18,172
Social security and other taxes 6,292 -
VAT 23,523 34,716
Other creditors 1,131 1,235
Directors' current accounts 2,072 1,760
Accruals and deferred income 107,620 104,690
179,148 184,867

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 13,000 13,000
Bank loans - 2-5 years 39,000 39,000
Bank loans >5 yr (instalments) 18,829 33,338
70,829 85,338

Amounts falling due in more than five years:

Repayable by instalments
Bank loans >5 yr (instalments) 18,829 33,338

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 83,829 98,338

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

DERBY PLATING SERVICES LIMITED (REGISTERED NUMBER: 01773887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. RESERVES
Revaluation
reserve
£   
At 1 January 2023 179,219
Transfer (3,640 )

At 31 December 2023 175,579