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REGISTERED NUMBER: 01043156 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

D.F. Warehouses Limited

D.F. Warehouses Limited (Registered number: 01043156)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


D.F. Warehouses Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S R Wescott
G I Sankey





SECRETARY: D Gould





REGISTERED OFFICE: Macdonald House
21-31 Kelvin Way
Crawley
West Sussex
RH10 9SP





REGISTERED NUMBER: 01043156 (England and Wales)





AUDITORS: Brewers Chartered Accountants
Bourne House
Queen Street
Gomshall
Surrey
GU5 9LY

D.F. Warehouses Limited (Registered number: 01043156)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 111,389 126,737

CURRENT ASSETS
Debtors 6 423,250 659,637
Cash at bank and in hand 5,231 3,515
428,481 663,152
CREDITORS
Amounts falling due within one year 7 201,160 161,819
NET CURRENT ASSETS 227,321 501,333
TOTAL ASSETS LESS CURRENT LIABILITIES 338,710 628,070

CREDITORS
Amounts falling due after more than one
year

8

-

(15,300

)

PROVISIONS FOR LIABILITIES 11 (20,939 ) (23,260 )
NET ASSETS 317,771 589,510

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 312,771 584,510
SHAREHOLDERS' FUNDS 317,771 589,510

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





G I Sankey - Director


D.F. Warehouses Limited (Registered number: 01043156)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

D.F. Warehouses 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern principle
The financial statements have been prepared on a going concern basis; the Directors have considered the basis of accounting in light of the strength of the Group Balance Sheet, and consider that the adoption of the going concern principle is appropriate.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover 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:

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on cost

D.F. Warehouses Limited (Registered number: 01043156)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

D.F. Warehouses Limited (Registered number: 01043156)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 14 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 448,174 9,864 47,920 505,958
Additions 9,990 - 27,860 37,850
Disposals (13,206 ) - (16,920 ) (30,126 )
At 31 December 2023 444,958 9,864 58,860 513,682
DEPRECIATION
At 1 January 2023 346,537 5,431 27,253 379,221
Charge for year 45,084 986 7,128 53,198
Eliminated on disposal (13,206 ) - (16,920 ) (30,126 )
At 31 December 2023 378,415 6,417 17,461 402,293
NET BOOK VALUE
At 31 December 2023 66,543 3,447 41,399 111,389
At 31 December 2022 101,637 4,433 20,667 126,737

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 102,000
DEPRECIATION
At 1 January 2023
and 31 December 2023 66,300
NET BOOK VALUE
At 31 December 2023 35,700
At 31 December 2022 35,700

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 66,549 29,695
Amounts owed by group undertakings 336,777 603,713
Prepayments and accrued income 19,924 26,229
423,250 659,637

D.F. Warehouses Limited (Registered number: 01043156)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 5,853 3,728
Hire purchase contracts (see note 9) 15,300 18,360
Trade creditors 55,622 40,228
Tax 26,285 27,384
VAT 35,047 25,500
Other creditors 54,553 40,319
Accruals and deferred income 8,500 6,300
201,160 161,819

The hire purchase agreements are secured over the assets to which the agreements relate.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 9) - 15,300

The hire purchase agreements are secured over the assets to which the agreements relate.

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Gross obligations repayable:
Within one year 17,282 20,738
Between one and five years - 17,282
17,282 38,020

Finance charges repayable:
Within one year 1,982 2,378
Between one and five years - 1,982
1,982 4,360

Net obligations repayable:
Within one year 15,300 18,360
Between one and five years - 15,300
15,300 33,660

D.F. Warehouses Limited (Registered number: 01043156)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 2,105 4,211
Between one and five years - 2,105
2,105 6,316

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase agreements 15,300 33,660

The hire purchase agreements are secured by a charge over the assets to which the agreements relate.

11. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 20,939 23,260

Deferred
tax
£   
Balance at 1 January 2023 23,260
Utilised during year (2,321 )
Balance at 31 December 2023 20,939

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Skilton (Senior Statutory Auditor)
for and on behalf of Brewers Chartered Accountants

13. ULTIMATE CONTROLLING PARTY

D.F. Warehouses Limited is a 100% subsidiary of Cecil Macdonald & Co Limited. The results of D.F. Warehouses Limited are consolidated in the financial statements of Cecil Macdonald & Co Limited. Registered office: 21-31 Kelvin Way, Crawley, RH10 9SP.