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REGISTERED NUMBER: 02960678 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DOOR SPRINGS LIMITED

DOOR SPRINGS LIMITED (REGISTERED NUMBER: 02960678)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DOOR SPRINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: F C Bartram
L C Hodson
A Beasley





SECRETARY: L C Hodson





REGISTERED OFFICE: Kings Chambers
Queens Cross
High Street
Dudley
West Midlands
DY1 1QT





REGISTERED NUMBER: 02960678 (England and Wales)





ACCOUNTANTS: Saxon & Co Accountants Ltd
Chartered Certified Accountants
Kings Chambers
Queens Cross
High Street
Dudley
West Midlands
DY1 1QT

DOOR SPRINGS LIMITED (REGISTERED NUMBER: 02960678)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 25,058 33,405
25,058 33,405

CURRENT ASSETS
Stocks 125,000 174,000
Debtors 6 121,417 163,800
Cash at bank 175,510 83,071
421,927 420,871
CREDITORS
Amounts falling due within one year 7 144,483 148,821
NET CURRENT ASSETS 277,444 272,050
TOTAL ASSETS LESS CURRENT
LIABILITIES

302,502

305,455

PROVISIONS FOR LIABILITIES 9 (6,265 ) (8,181 )

ACCRUALS AND DEFERRED INCOME (4 ) (5 )
NET ASSETS 296,233 297,269

CAPITAL AND RESERVES
Called up share capital 10 120 120
Retained earnings 296,113 297,149
SHAREHOLDERS' FUNDS 296,233 297,269

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.

DOOR SPRINGS LIMITED (REGISTERED NUMBER: 02960678)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





A Beasley - Director


DOOR SPRINGS LIMITED (REGISTERED NUMBER: 02960678)

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

1. STATUTORY INFORMATION

Door Springs 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

DOOR SPRINGS LIMITED (REGISTERED NUMBER: 02960678)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 65,000
AMORTISATION
At 1 January 2023
and 31 December 2023 65,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

DOOR SPRINGS LIMITED (REGISTERED NUMBER: 02960678)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 293,552 3,534 22,495 8,924 328,505
DEPRECIATION
At 1 January 2023 269,170 3,457 15,378 7,095 295,100
Charge for year 6,096 15 1,779 457 8,347
At 31 December 2023 275,266 3,472 17,157 7,552 303,447
NET BOOK VALUE
At 31 December 2023 18,286 62 5,338 1,372 25,058
At 31 December 2022 24,382 77 7,117 1,829 33,405

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 121,417 163,800

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 55,470 81,208
Taxation 23,593 18,624
Social security and other taxes 4,390 3,457
VAT 23,542 16,394
Other creditors 289 167
Directors current accounts 18,731 18,731
Accrued expenses 18,467 10,238
Deferred government grants 1 2
144,483 148,821

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 22,351 20,931
Between one and five years 8,086 -
30,437 20,931

DOOR SPRINGS LIMITED (REGISTERED NUMBER: 02960678)

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

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,265 8,181

Deferred
tax
£   
Balance at 1 January 2023 8,181
Provided during year (1,916 )
Balance at 31 December 2023 6,265

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
120 Ordinary £1 120 120

11. RELATED PARTY DISCLOSURES

The directors do not consider that the company has entered into any material transactions with related parties, including the owners, directors and any related entity, that have not been concluded under normal market conditions.