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Registration number: 05355363

Geometrical Limited

trading as DTE Motoring Centre

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Geometrical Limited

trading as DTE Motoring Centre

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Geometrical Limited

trading as DTE Motoring Centre

Company Information

Director

Mr P M Edgell

Company secretary

Mrs D E Edgell

Registered office

Frederick Road
Hoo Farm Industrial Estate
Kidderminster
Worcs
DY11 7RA

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Geometrical Limited

trading as DTE Motoring Centre

(Registration number: 05355363)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

475,642

493,891

Current assets

 

Stocks

6

20,647

21,984

Debtors

7

10,196

6,623

Cash at bank and in hand

 

100,879

66,396

 

131,722

95,003

Creditors: Amounts falling due within one year

8

(127,164)

(108,500)

Net current assets/(liabilities)

 

4,558

(13,497)

Total assets less current liabilities

 

480,200

480,394

Creditors: Amounts falling due after more than one year

8

(183,365)

(207,458)

Provisions for liabilities

(31,183)

(31,114)

Net assets

 

265,652

241,822

Capital and reserves

 

Called up share capital

101

101

Retained earnings

265,551

241,721

Shareholders' funds

 

265,652

241,822

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

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 September 2024
 

 

Geometrical Limited

trading as DTE Motoring Centre

(Registration number: 05355363)
Balance Sheet as at 30 April 2024

.........................................
Mr P M Edgell
Director

   
 

Geometrical Limited

trading as DTE Motoring Centre

Notes to the Unaudited 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.

The address of its registered office is:
Frederick Road
Hoo Farm Industrial Estate
Kidderminster
Worcs
DY11 7RA

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. 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

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

 

Geometrical Limited

trading as DTE Motoring Centre

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class

Depreciation method and rate

Freehold property

2% on cost

Plant and machinery

10% on reducing balance

Motor vehicles

20% on reducing balance

Computer equipment

20% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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.

 

Geometrical Limited

trading as DTE Motoring Centre

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

Stocks

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

 

Geometrical Limited

trading as DTE Motoring Centre

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

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 the director) during the year, was 9 (2023 - 9).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

20,000

20,000

At 30 April 2024

20,000

20,000

Amortisation

At 1 May 2023

20,000

20,000

At 30 April 2024

20,000

20,000

Carrying amount

At 30 April 2024

-

-

 

Geometrical Limited

trading as DTE Motoring Centre

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

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

416,359

381,924

10,795

809,078

Additions

-

7,719

-

7,719

At 30 April 2024

416,359

389,643

10,795

816,797

Depreciation

At 1 May 2023

58,872

249,609

6,706

315,187

Charge for the year

8,767

16,383

818

25,968

At 30 April 2024

67,639

265,992

7,524

341,155

Carrying amount

At 30 April 2024

348,720

123,651

3,271

475,642

At 30 April 2023

357,487

132,315

4,089

493,891

Included within the net book value of land and buildings above is £364,421 (2021 - £368,144) in repect of freehold land and buildings.

6

Stocks

2024
£

2023
£

Stocks

20,647

21,984

7

Debtors

Current

2024
£

2023
£

Trade debtors

9,119

6,623

Prepayments

1,077

-

 

10,196

6,623

 

Geometrical Limited

trading as DTE Motoring Centre

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

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

27,121

30,164

Trade creditors

 

45,270

32,239

Taxation and social security

 

27,181

23,795

Other creditors

 

27,592

22,302

 

127,164

108,500

Due after one year

 

Loans and borrowings

9

183,365

207,458

 

Geometrical Limited

trading as DTE Motoring Centre

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

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

144,219

168,065

Other borrowings

39,146

39,393

183,365

207,458

2024
£

2023
£

Current loans and borrowings

Bank borrowings

27,121

30,164