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Registered number: 07330976
Douch Biomass Ltd
Financial Statements
For the Period 1 April 2023 to 2 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07330976
2 September 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 23,185
- 23,185
CURRENT ASSETS
Debtors 5 - 101,708
Cash at bank and in hand 431,602 384,591
431,602 486,299
Creditors: Amounts Falling Due Within One Year 6 (15,116 ) (115,912 )
NET CURRENT ASSETS (LIABILITIES) 416,486 370,387
TOTAL ASSETS LESS CURRENT LIABILITIES 416,486 393,572
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 - (4,405 )
NET ASSETS 416,486 389,167
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 416,386 389,067
SHAREHOLDERS' FUNDS 416,486 389,167
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For the period ending 2 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs L E Douch
Director
Dr N P Douch
Director
4 September 2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Douch Biomass Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07330976 . The registered office is Pippingford Manor, Pippingford Park, Nutley, East Sussex, TN22 3HW.
The company's principal activity was that of the installation of biomass heating systems. The company ceased trading on 2nd September 2024.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% reducing balance
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Financial Instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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2.6. Interest Receivable
Interest income is recognised in profit or loss using the effective interest method.
2.7. Interest Payable
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. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 3 (2023: 3)
3 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 33,210 30,250 5,784 8,138 77,382
Disposals (33,210 ) (30,250 ) (5,784 ) (8,138 ) (77,382 )
Depreciation
As at 1 April 2023 30,114 10,647 5,425 8,011 54,197
Disposals (30,114 ) (10,647 ) (5,425 ) (8,011 ) (54,197 )
As at 2 September 2024 - - - - -
Net Book Value
As at 2 September 2024 - - - - -
As at 1 April 2023 3,096 19,603 359 127 23,185
5. Debtors
2 September 2024 31 March 2023
£ £
Due within one year
Trade debtors - 95,822
Other debtors - 5,886
- 101,708
6. Creditors: Amounts Falling Due Within One Year
2 September 2024 31 March 2023
£ £
Trade creditors - 48,127
Other creditors - 9,317
Taxation and social security 15,116 58,468
15,116 115,912
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7. Deferred Taxation
The provision for deferred tax is made up as follows:
2 September 2024 31 March 2023
£ £
Other timing differences - 4,405
8. Share Capital
2 September 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included in other creditors due within one year are loans from the directors, Dr N Douch amounting to £Nil (2023 - £7,284) and Mrs L Douch amounting to £Nil (2023 - £Nil).
10. Controlling Parties
The company's ultimate controlling party is Dr N P Douch and Mrs L E Douch by virtue of their interest in the share capital of the company.
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