Dtec Fabrications Limited 04090835 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is steel metal fabrications. Digita Accounts Production Advanced 6.30.9574.0 true true 04090835 2023-01-01 2023-12-31 04090835 2023-12-31 04090835 bus:OrdinaryShareClass1 2023-12-31 04090835 core:CurrentFinancialInstruments 2023-12-31 04090835 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04090835 core:FurnitureFittingsToolsEquipment 2023-12-31 04090835 core:LandBuildings 2023-12-31 04090835 core:MotorVehicles 2023-12-31 04090835 core:OtherPropertyPlantEquipment 2023-12-31 04090835 bus:SmallEntities 2023-01-01 2023-12-31 04090835 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04090835 bus:FullAccounts 2023-01-01 2023-12-31 04090835 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04090835 bus:RegisteredOffice 2023-01-01 2023-12-31 04090835 bus:Director1 2023-01-01 2023-12-31 04090835 bus:Director2 2023-01-01 2023-12-31 04090835 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04090835 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04090835 core:Buildings 2023-01-01 2023-12-31 04090835 core:FurnitureFittings 2023-01-01 2023-12-31 04090835 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 04090835 core:LandBuildings 2023-01-01 2023-12-31 04090835 core:MotorVehicles 2023-01-01 2023-12-31 04090835 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 04090835 core:PlantMachinery 2023-01-01 2023-12-31 04090835 countries:AllCountries 2023-01-01 2023-12-31 04090835 2022-12-31 04090835 core:FurnitureFittingsToolsEquipment 2022-12-31 04090835 core:LandBuildings 2022-12-31 04090835 core:MotorVehicles 2022-12-31 04090835 core:OtherPropertyPlantEquipment 2022-12-31 04090835 2022-01-01 2022-12-31 04090835 2022-12-31 04090835 bus:OrdinaryShareClass1 2022-12-31 04090835 core:CurrentFinancialInstruments 2022-12-31 04090835 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04090835 core:FurnitureFittingsToolsEquipment 2022-12-31 04090835 core:LandBuildings 2022-12-31 04090835 core:MotorVehicles 2022-12-31 04090835 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04090835

Dtec Fabrications Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Dtec Fabrications Limited

Company Information

Directors

Mr D R Clorley

Mr Harold Bruce Milligan

Registered office

Churchills Yard
Whieldon Road
Stoke On Trent
Staffordshire
ST4 4HP

 

Dtec Fabrications Limited

(Registration number: 04090835)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

233,914

186,423

Current assets

 

Stocks

5

88,587

216,570

Debtors

6

42,695

254,654

Cash at bank and in hand

 

353,950

129,998

 

485,232

601,222

Creditors: Amounts falling due within one year

7

(175,707)

(288,512)

Net current assets

 

309,525

312,710

Total assets less current liabilities

 

543,439

499,133

Provisions for liabilities

(13,662)

(1,157)

Net assets

 

529,777

497,976

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

529,577

497,776

Shareholders' funds

 

529,777

497,976

For the financial year ending 31 December 2023 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 24 September 2024 and signed on its behalf by:
 

 

Dtec Fabrications Limited

(Registration number: 04090835)
Balance Sheet as at 31 December 2023

.........................................
Mr Harold Bruce Milligan
Director

 

Dtec Fabrications Limited

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

1

General information

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

The address of its registered office is:
Churchills Yard
Whieldon Road
Stoke On Trent
Staffordshire
ST4 4HP

These financial statements were authorised for issue by the Board on 24 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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

After making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing it's financial statements. The Company is considered to be well positioned given the current environment with no impact on the going concern basis of the financial statements.

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.

 

Dtec Fabrications Limited

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

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit and loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included within other creditors as deferred income.

Grants of a revenue in nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

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.

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 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

Land and Buildings

Straight line over 50 years (buildings)

Plant and Machinery

25% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

25% reducing balance

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.

 

Dtec Fabrications Limited

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

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.

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.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profil or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

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. The share capital disclosed on the balance sheet is allotted, called up and fully paid.

 

Dtec Fabrications Limited

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

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.

 

Dtec Fabrications Limited

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

Financial instruments

Classification
The Company only enters into basic financial instrument 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 ordinary shares.

 Recognition and measurement
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 at amortised cosl 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. However, if the arrangements of a snort-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

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.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when lhere 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.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 8).

 

Dtec Fabrications Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

200,000

10,771

29,594

34,317

274,682

Additions

-

1,550

-

59,000

60,550

At 31 December 2023

200,000

12,321

29,594

93,317

335,232

Depreciation

At 1 January 2023

21,440

5,803

28,753

32,263

88,259

Charge for the year

4,000

957

211

7,891

13,059

At 31 December 2023

25,440

6,760

28,964

40,154

101,318

Carrying amount

At 31 December 2023

174,560

5,561

630

53,163

233,914

At 31 December 2022

178,560

4,968

841

2,054

186,423

Included within the net book value of land and buildings above is £174,560 (2022 - £178,560) in respect of freehold land and buildings.
 

5

Stocks

2023
£

2022
£

Work in progress

48,375

176,570

Other inventories

40,212

40,000

88,587

216,570

6

Debtors

Current

2023
£

2022
£

Trade debtors

24,370

244,580

Prepayments

18,286

10,074

Other debtors

39

-

 

42,695

254,654

 

Dtec Fabrications Limited

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

112,868

210,278

Taxation and social security

44,115

59,632

Accruals and deferred income

3,900

9,792

Other creditors

14,824

8,810

175,707

288,512

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

200

200

200

200

         
 

Dtec Fabrications Limited

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

9

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 £8,424 (2022 - £Nil).