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Registered number: 12390574
DGC Electrical (Suffolk) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Golding Accountancy
ACCA
Armoury House Armoury Road
West Bergholt
Colchester
Essex
CO6 3JP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12390574
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 22,271 19,175
22,271 19,175
CURRENT ASSETS
Debtors 5 19,001 12,208
Cash at bank and in hand 26,851 27,174
45,852 39,382
Creditors: Amounts Falling Due Within One Year 6 (15,180 ) (13,024 )
NET CURRENT ASSETS (LIABILITIES) 30,672 26,358
TOTAL ASSETS LESS CURRENT LIABILITIES 52,943 45,533
Creditors: Amounts Falling Due After More Than One Year 7 (16,211 ) (21,790 )
NET ASSETS 36,732 23,743
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 36,731 23,742
SHAREHOLDERS' FUNDS 36,732 23,743
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Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Darren Carsboult
Director
12 September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
DGC Electrical (Suffolk) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12390574 . The registered office is 7 Links View, Newton, Sudbury, Suffolk, CO10 0QT.
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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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.
2.5. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 31,990 2,100 34,090
Additions - 11,851 11,851
As at 31 December 2023 31,990 13,951 45,941
Depreciation
As at 1 January 2023 13,996 919 14,915
Provided during the period 4,498 4,257 8,755
As at 31 December 2023 18,494 5,176 23,670
Net Book Value
As at 31 December 2023 13,496 8,775 22,271
As at 1 January 2023 17,994 1,181 19,175
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,405 9,786
Other debtors 16,180 467
VAT 416 1,955
19,001 12,208
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 5,268 2,993
Corporation tax 7,012 8,722
Other taxes and social security 1,008 331
Other creditors 480 720
Director's loan account 1,412 258
15,180 13,024
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 7,810 10,487
Bank loans 8,401 11,303
16,211 21,790
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8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 7,810 10,487
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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