Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30truefalsefalse2022-12-01No description of principal activity88trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06424696 2022-12-01 2023-11-30 06424696 2021-12-01 2022-11-30 06424696 2023-11-30 06424696 2022-11-30 06424696 c:Director1 2022-12-01 2023-11-30 06424696 d:Buildings 2022-12-01 2023-11-30 06424696 d:Buildings 2023-11-30 06424696 d:Buildings 2022-11-30 06424696 d:Buildings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 06424696 d:Buildings d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 06424696 d:PlantMachinery 2022-12-01 2023-11-30 06424696 d:PlantMachinery 2023-11-30 06424696 d:PlantMachinery 2022-11-30 06424696 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 06424696 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 06424696 d:MotorVehicles 2022-12-01 2023-11-30 06424696 d:MotorVehicles 2023-11-30 06424696 d:MotorVehicles 2022-11-30 06424696 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 06424696 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 06424696 d:OtherPropertyPlantEquipment 2022-12-01 2023-11-30 06424696 d:OtherPropertyPlantEquipment 2023-11-30 06424696 d:OtherPropertyPlantEquipment 2022-11-30 06424696 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 06424696 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 06424696 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 06424696 d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 06424696 d:CurrentFinancialInstruments 2023-11-30 06424696 d:CurrentFinancialInstruments 2022-11-30 06424696 d:Non-currentFinancialInstruments 2023-11-30 06424696 d:Non-currentFinancialInstruments 2022-11-30 06424696 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 06424696 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 06424696 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 06424696 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 06424696 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 06424696 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 06424696 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 06424696 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 06424696 d:ShareCapital 2023-11-30 06424696 d:ShareCapital 2022-11-30 06424696 d:RetainedEarningsAccumulatedLosses 2023-11-30 06424696 d:RetainedEarningsAccumulatedLosses 2022-11-30 06424696 c:OrdinaryShareClass1 2022-12-01 2023-11-30 06424696 c:OrdinaryShareClass1 2023-11-30 06424696 c:OrdinaryShareClass1 2022-11-30 06424696 c:FRS102 2022-12-01 2023-11-30 06424696 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 06424696 c:FullAccounts 2022-12-01 2023-11-30 06424696 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 06424696 2 2022-12-01 2023-11-30 06424696 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06424696










DERWEN GARAGE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
DERWEN GARAGE LIMITED
REGISTERED NUMBER: 06424696

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,131,795
1,125,307

  
1,131,795
1,125,307

Current assets
  

Stocks
  
15,066
12,000

Debtors: amounts falling due within one year
 5 
17,969
2,365

Cash at bank and in hand
 6 
305,224
161,681

  
338,259
176,046

Creditors: amounts falling due within one year
 7 
(519,548)
(465,168)

Net current liabilities
  
 
 
(181,289)
 
 
(289,122)

Total assets less current liabilities
  
950,506
836,185

Creditors: amounts falling due after more than one year
 8 
(13,292)
(21,174)

  

Net assets
  
937,214
815,011


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
  
937,212
815,009

  
937,214
815,011



 
DERWEN GARAGE LIMITED
REGISTERED NUMBER: 06424696
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2024.




Melvyn Evans
Director

The notes on  form part of these financial statements.


 
DERWEN GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Derwen Garage Limited, 06424696, is a private limited company, limited by shares, incorporated in England and Wales, with a registered office address and principal place of business at Derwen Garage, Harford, Llanwrda, Carmarthenshire, SA19 8DT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.


 
DERWEN GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.


 
DERWEN GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.


 
DERWEN GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2%
reducing balance
Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Other fixed assets
-
Revaluation method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 8).


 
DERWEN GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 December 2022
46,323
248,320
371,783
822,763
1,489,189


Additions
-
-
4,000
286,391
290,391


Disposals
-
-
(10,000)
(221,496)
(231,496)



At 30 November 2023

46,323
248,320
365,783
887,658
1,548,084



Depreciation


At 1 December 2022
9,148
188,023
166,711
-
363,882


Charge for the year on owned assets
744
9,045
45,031
-
54,820


Charge for the year on financed assets
-
-
6,586
-
6,586


Disposals
-
-
(8,999)
-
(8,999)



At 30 November 2023

9,892
197,068
209,329
-
416,289



Net book value



At 30 November 2023
36,431
51,252
156,454
887,658
1,131,795



At 30 November 2022
37,175
60,297
205,072
822,763
1,125,307


5.


Debtors

2023
2022
£
£


Trade debtors
17,969
2,365

17,969
2,365



 
DERWEN GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
305,224
161,681

305,224
161,681



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
8,000
8,000

Trade creditors
36,311
25,009

Other taxation and social security
14,653
5,077

Obligations under finance lease and hire purchase contracts
1,667
1,142

Other creditors
456,286
423,575

Accruals and deferred income
2,631
2,365

519,548
465,168



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
13,292
21,174

13,292
21,174



 
DERWEN GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
8,000
8,000


8,000
8,000

Amounts falling due 1-2 years

Bank loans
8,000
8,000


8,000
8,000

Amounts falling due 2-5 years

Bank loans
5,292
13,172


5,292
13,172


21,292
29,172



10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2