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Registered number: 07471730
Dgw Electrical Contractors Limited
Financial Statements
For The Year Ended 26 December 2023
Accountants-E-Services Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07471730
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 5,769 628
5,769 628
CURRENT ASSETS
Debtors 6 14,447 15,237
Cash at bank and in hand 1 73
14,448 15,310
Creditors: Amounts Falling Due Within One Year 7 (70,016 ) (30,944 )
NET CURRENT ASSETS (LIABILITIES) (55,568 ) (15,634 )
TOTAL ASSETS LESS CURRENT LIABILITIES (49,799 ) (15,006 )
NET LIABILITIES (49,799 ) (15,006 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (49,800 ) (15,007 )
SHAREHOLDERS' FUNDS (49,799) (15,006)
Page 1
Page 2
For the year ending 26 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr G Williams
Director
25 September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dgw Electrical Contractors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07471730 . The registered office is 4 Ffordd Maes Gwilym, Carway, Kidwelly, Dyfed, SA17 4AX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 27 December 2022 5,000
As at 26 December 2023 5,000
Amortisation
As at 27 December 2022 5,000
As at 26 December 2023 5,000
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5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 27 December 2022 5,022 13,163 18,185
Additions - 7,500 7,500
Disposals - (13,163 ) (13,163 )
As at 26 December 2023 5,022 7,500 12,522
Depreciation
As at 27 December 2022 4,830 12,727 17,557
Provided during the period 48 1,875 1,923
Disposals - (12,727 ) (12,727 )
As at 26 December 2023 4,878 1,875 6,753
Net Book Value
As at 26 December 2023 144 5,625 5,769
As at 27 December 2022 192 436 628
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 6,500 6,500
Other taxes and social security 7,947 6,726
Director's loan account - 2,011
14,447 15,237
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1 1
Bank loans and overdrafts 5,144 2,348
Other loans 2,504 -
Corporation tax 6,886 5,572
VAT 2,420 2,420
Other creditors 9,997 10,470
Accruals and deferred income 11,128 10,133
Director's loan account 31,936 -
70,016 30,944
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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