Registrar
Registration number:
DDGC Limited
for the Year Ended 30 April 2024
DDGC Limited
Contents
Company Information |
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Profit and Loss Account |
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Balance Sheet |
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Notes to the Financial Statements |
DDGC Limited
Company Information
Directors |
D G Campbell D J Campbell |
Company secretary |
D J Campbell |
Registered office |
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Bankers |
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Accountants |
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DDGC Limited
Profit and Loss Account for the Year Ended 30 April 2024
Note |
2024 |
2023 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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|
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Administrative expenses |
( |
( |
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Other operating income |
|
|
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Operating (loss)/profit |
(337,017) |
542,825 |
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Other interest receivable and similar income |
|
|
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Interest payable and similar expenses |
( |
( |
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(11,817) |
(19,292) |
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(Loss)/profit before tax |
( |
|
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Tax on (loss)/profit |
|
( |
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(Loss)/profit for the financial year |
( |
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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 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
1,994,594 |
2,536,504 |
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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:
• |
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• |
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
Company secretary and director
DDGC Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal place of business is: Cherith, The Street, Little Totham, Maldon, Essex, CM9 8JQ.
These financial statements were authorised for issue by the
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
DDGC Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Tangible assets |
Office equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 May 2023 |
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Additions |
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- |
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Disposals |
( |
( |
( |
( |
At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
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Charge for the year |
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Eliminated on disposal |
( |
( |
( |
( |
At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 May 2023 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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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 |
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2024 |
2023 |
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Subsidiary undertakings |
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DDGC Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Debtors |
Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings |
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Prepayments |
|
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Other debtors |
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Directors loan |
- |
22,334 |
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|
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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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 |
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Due after one year |
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Loans and borrowings |
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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
Loans and borrowings |
2024 |
2023 |
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Current loans and borrowings |
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Hire purchases and finance lease contracts |
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2024 |
2023 |
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Non-current loans and borrowings |
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Hire purchases and finance lease contracts |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
|
|
|
100 |
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100 |
Dividends |
Interim dividends paid
2024 |
2023 |
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Interim dividend |
288,540 |
216,000 |
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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 £
Related party transactions |
2024 |
At 1 May 2023 |
Advances to director |
Repayments by director |
At 30 April 2024 |
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|
( |
( |
2023 |
At 1 May 2022 |
Advances to director |
Repayments by director |
At 30 April 2023 |
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( |
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