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Registrar

Registration number: 06219772

DDGC Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

DDGC Limited

Contents

Company Information

1

Profit and Loss Account

2

Balance Sheet

3

Notes to the Financial Statements

4 to 9

 

DDGC Limited

Company Information

Directors

D G Campbell

D J Campbell

Company secretary

D J Campbell

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

Barclays
59 Newland Street
Witham
Essex
CM8 2AJ

Accountants

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

DDGC Limited

Profit and Loss Account for the Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

 

3,110,250

4,210,120

Cost of sales

 

(2,417,129)

(3,278,496)

Gross profit

 

693,121

931,624

Administrative expenses

 

(1,033,046)

(393,799)

Other operating income

 

2,908

5,000

Operating (loss)/profit

 

(337,017)

542,825

Other interest receivable and similar income

 

3,084

747

Interest payable and similar expenses

 

(14,901)

(20,039)

   

(11,817)

(19,292)

(Loss)/profit before tax

(348,834)

523,533

Tax on (loss)/profit

 

95,464

(116,557)

(Loss)/profit for the financial year

 

(253,370)

406,976

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

DDGC Limited

(Registration number: 06219772)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

618,642

1,085,716

Investments

5

100

100

 

618,742

1,085,816

Current assets

 

Debtors

6

1,612,985

1,856,730

Cash at bank and in hand

 

647,979

663,754

 

2,260,964

2,520,484

Creditors: Amounts falling due within one year

7

(533,459)

(686,346)

Net current assets

 

1,727,505

1,834,138

Total assets less current liabilities

 

2,346,247

2,919,954

Creditors: Amounts falling due after more than one year

7

(268,555)

(179,674)

Provisions for liabilities

(82,998)

(203,676)

Net assets

 

1,994,694

2,536,604

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

1,994,594

2,536,504

Shareholders' funds

 

1,994,694

2,536,604

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 September 2024 and signed on its behalf by:
 

D J Campbell
Company secretary and director

 

DDGC Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB.

The principal place of business is: Cherith, The Street, Little Totham, Maldon, Essex, CM9 8JQ.

These financial statements were authorised for issue by the Board on 6 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention and are presented in Sterling (£), which is the company's functional currency.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale, rental and servicing of generators. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

 

DDGC Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

5% & 15% straight line method

Motor vehicles

25% reducing balance/ length of the lease (3 years)

Office equipment

33% straight line method

Investments

Investments in equity shares are recorded at cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

The amount also includes the adjustment for sales reserve as at the end of the year, This relates to work undertaken prior to the year end which is not invoiced until after the year, taking into account any time anticipated as non-recoverable and any other specific provisions due to the nature of the work undertaken.

Stocks and work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

DDGC Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other
resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred
and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2023 - 21).

 

DDGC Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Office equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

52,655

952,075

1,015,518

2,020,248

Additions

4,538

367,829

-

372,367

Disposals

(34,812)

(591,988)

(908,855)

(1,535,655)

At 30 April 2024

22,381

727,916

106,663

856,960

Depreciation

At 1 May 2023

43,855

571,827

318,850

934,532

Charge for the year

5,841

135,303

48,056

189,200

Eliminated on disposal

(34,811)

(516,384)

(334,219)

(885,414)

At 30 April 2024

14,885

190,746

32,687

238,318

Carrying amount

At 30 April 2024

7,496

537,170

73,976

618,642

At 30 April 2023

8,800

380,248

696,668

1,085,716

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 May 2023

100

Carrying amount

At 30 April 2024

100

At 30 April 2023

100

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Loadgen Limited

Ordinary A

100%

100%

 

DDGC Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

249,739

959,857

Amounts owed by group undertakings

 

893,932

482,872

Prepayments

 

95,452

86,425

Other debtors

 

373,862

305,242

Directors loan

12

-

22,334

 

1,612,985

1,856,730

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

159,364

123,727

Trade creditors

 

257,613

350,100

Taxation and social security

 

54,014

154,992

Accruals and deferred income

 

1,400

4,085

Other creditors

 

61,068

53,442

 

533,459

686,346


Creditors due within one year include net obligations under finance lease and hire purchase contracts which are secured of £159,364 (2023 - £123,727)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

268,555

179,674


Creditors due after more than one year include net obligations under finance lease and hire purchase contracts which are secured of £268,555 (2023 - £179,674).

 

DDGC Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Hire purchases and finance lease contracts

159,364

123,727

2024
£

2023
£

Non-current loans and borrowings

Hire purchases and finance lease contracts

268,555

179,674

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend

 

288,540

 

216,000

         

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £23,411 (2023 - £23,067).

12

Related party transactions

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

22,334

264,982

(297,326)

(10,010)

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

8,995

229,339

(216,000)

22,334