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REGISTERED NUMBER: 08814839 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DHB UTILITIES LIMITED

DHB UTILITIES LIMITED (REGISTERED NUMBER: 08814839)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DHB UTILITIES LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: D Beatty
K Beatty





REGISTERED OFFICE: Langley House
Park Road
East Finchley
London
N2 8EY





REGISTERED NUMBER: 08814839 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY

DHB UTILITIES LIMITED (REGISTERED NUMBER: 08814839)

STATEMENT OF FINANCIAL POSITION
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 427,187 317,832

CURRENT ASSETS
Debtors 5 626,173 992,090
Cash at bank 400,000 550,154
1,026,173 1,542,244
CREDITORS
Amounts falling due within one year 6 943,811 492,495
NET CURRENT ASSETS 82,362 1,049,749
TOTAL ASSETS LESS CURRENT
LIABILITIES

509,549

1,367,581

CREDITORS
Amounts falling due after more than one
year

7

(403,388

)

(536,770

)

PROVISIONS FOR LIABILITIES (95,527 ) (52,544 )
NET ASSETS 10,634 778,267

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10,534 778,167
SHAREHOLDERS' FUNDS 10,634 778,267

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.

DHB UTILITIES LIMITED (REGISTERED NUMBER: 08814839)

STATEMENT OF FINANCIAL POSITION - 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 12 September 2024 and were signed on its behalf by:





D Beatty - Director


DHB UTILITIES LIMITED (REGISTERED NUMBER: 08814839)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

DHB Utilities 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 represents net invoiced sales of services, excluding value added tax and is recognised once the service has been provided.

Tangible fixed assets
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.

Depreciation is provided on the following basis:

Plant & Machinery - 25% reducing balance method
Motor vehicles - 25% reducing balance method
Computer equipment - 33% reducing balance method

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

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 the Statement of Comprehensive Income.

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 statement of financial position date.


DHB UTILITIES LIMITED (REGISTERED NUMBER: 08814839)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

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

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any material unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

DHB UTILITIES LIMITED (REGISTERED NUMBER: 08814839)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 498,451
Additions 277,800
Disposals (77,767 )
At 31 December 2023 698,484
DEPRECIATION
At 1 January 2023 180,619
Charge for year 119,231
Eliminated on disposal (28,553 )
At 31 December 2023 271,297
NET BOOK VALUE
At 31 December 2023 427,187
At 31 December 2022 317,832

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 27,767
DEPRECIATION
At 1 January 2023
and 31 December 2023 6,942
NET BOOK VALUE
At 31 December 2023 20,825
At 31 December 2022 20,825

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings - 495,237
Other debtors 626,173 496,853
626,173 992,090

DHB UTILITIES LIMITED (REGISTERED NUMBER: 08814839)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 48,699 76,535
Hire purchase contracts 90,660 92,944
Trade creditors 114,824 113,525
Amounts owed to group undertakings 350,000 -
Taxation and social security 265,554 205,445
Other creditors 74,074 4,046
943,811 492,495

Included within other creditors are accrued expense of £73,500 (2022 : £3,500).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 353,295 396,017
Hire purchase contracts 50,093 140,753
403,388 536,770

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 159,402 211,561

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 396,017 436,660

The bank loan is secured by was of fixed and floating charge on all the company's assets and undertakings, and also by way of fixed and floating charge on related party, DHB Holdings Limited.