Company Registration No. 4407349 (England and Wales)
Devon & Cornwall DC Power Limited
Unaudited accounts
for the year ended 30 April 2024
Devon & Cornwall DC Power Limited
Unaudited accounts
Contents
Devon & Cornwall DC Power Limited
Company Information
for the year ended 30 April 2024
Directors
Eric Hall
Elizabeth Hall
Company Number
4407349 (England and Wales)
Registered Office
Varley Farm
Prixford
Barnstaple
Devon
EX31 4DX
United Kingdom
Accountants
Westerly Accountancy Ltd
24 Orchard Road
Wrafton
Braunton
EX33 2DZ
Devon & Cornwall DC Power Limited
Statement of financial position
as at 30 April 2024
Tangible assets
110,343
173,820
Cash at bank and in hand
256,657
513,050
Creditors: amounts falling due within one year
(352,111)
(298,517)
Net current assets
308,930
723,111
Total assets less current liabilities
419,273
896,931
Provisions for liabilities
Deferred tax
(12,423)
(22,865)
Net assets
406,850
874,066
Called up share capital
100
100
Profit and loss account
406,750
873,966
Shareholders' funds
406,850
874,066
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by
Elizabeth Hall
Director
Company Registration No. 4407349
Devon & Cornwall DC Power Limited
Notes to the Accounts
for the year ended 30 April 2024
Devon & Cornwall DC Power Limited is a private company, limited by shares, registered in England and Wales, registration number 4407349. The registered office is Varley Farm, Prixford, Barnstaple, Devon, EX31 4DX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Leasehold improvements - straight line 10 years
Plant & machinery
15% written down value
Motor vehicles
25% written down value
Fixtures & fittings
25% written down value
Computer equipment
33% written down value
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Devon & Cornwall DC Power Limited
Notes to the Accounts
for the year ended 30 April 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Management have monitored the ongoing impact of the Ukraine conflict and general worldwide economic uncertainty and has business continuity plans in place that allow the Company to adapt to change as and when it arises. In considering the impact of the Ukraine conflict and general worldwide economic uncertainty at the date of signing of the accounts there has not been a material impact on the operations of the business and minimal impact on cash flows.
In addition, the losses suffered by the business in the current year have been reviewed and are considered to be the result of one-off trading issues. Forecasts for the coming year and subsequent year have been performed and show the company returning to profitability with a modest growth in turnover.
Management believe there are sufficient funds and resources within the business to deal with any ongoing uncertainty and the recent trading issues.
4
Intangible fixed assets
Goodwill
Devon & Cornwall DC Power Limited
Notes to the Accounts
for the year ended 30 April 2024
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 May 2023
42,171
69,290
221,988
36,565
370,014
Additions
-
2,732
-
-
2,732
Disposals
-
-
(38,505)
-
(38,505)
At 30 April 2024
42,171
72,022
183,483
36,565
334,241
At 1 May 2023
36,824
42,396
92,672
24,302
196,194
Charge for the year
1,298
4,153
30,892
4,047
40,390
On disposals
-
-
(12,686)
-
(12,686)
At 30 April 2024
38,122
46,549
110,878
28,349
223,898
At 30 April 2024
4,049
25,473
72,605
8,216
110,343
At 30 April 2023
5,347
26,894
129,316
12,263
173,820
Amounts falling due within one year
Trade debtors
255,137
294,760
Accrued income and prepayments
75,045
162,233
Other debtors
16,621
1,361
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
79,583
90,788
Taxes and social security
13,968
40,798
Other creditors
12,703
10,150
Loans from directors
15,344
17,041
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Devon & Cornwall DC Power Limited
Notes to the Accounts
for the year ended 30 April 2024
9
Operating lease commitments
2024
2023
At 30 April 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
3,103
16,463
Later than one year and not later than five years
25,164
-
Later than five years
16,000
16,000
10
Transactions with related parties
Mr E and Mrs E Hall are directors and shareholders of the company.
At the Balance sheet date the amount due to Mr E and Mrs E Hall was £15,344 (2023: £17,041).
11
Average number of employees
During the year the average number of employees was 20 (2023: 25).