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COMPANY REGISTRATION NUMBER: 04691735
DRESLER SMITH LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2024
DRESLER SMITH LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
6
52
70
CURRENT ASSETS
Debtors
7
147,476
107,460
Cash at bank and in hand
18,015
47,274
---------
---------
165,491
154,734
CREDITORS: amounts falling due within one year
8
( 93,364)
( 64,846)
---------
---------
NET CURRENT ASSETS
72,127
89,888
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
72,179
89,958
PROVISIONS
Taxation including deferred tax
( 10)
( 13)
--------
--------
NET ASSETS
72,169
89,945
--------
--------
CAPITAL AND RESERVES
Called up share capital
75
75
Capital redemption reserve
50
50
Profit and loss account
72,044
89,820
--------
--------
SHAREHOLDERS FUNDS
72,169
89,945
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DRESLER SMITH LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 2 October 2024 , and are signed on behalf of the board by:
D L Dresler
Director
Company registration number: 04691735
DRESLER SMITH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kenneth Hodgson House, 18 Park Row, Leeds, LS1 5JA, West Yorkshire.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office Equipment
-
25% reducing balance
Fixtures & Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Computer Equipment
-
33% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. TAX ON PROFIT
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
21,716
35,340
Deferred tax:
Origination and reversal of timing differences
( 3)
( 3,701)
--------
--------
Tax on profit
21,713
31,639
--------
--------
6. TANGIBLE ASSETS
Office Equipment
Fixtures and fittings
Computer Equipment
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
782
7,198
5,795
13,775
----
-------
-------
--------
Depreciation
At 1 April 2023
782
7,128
5,795
13,705
Charge for the year
18
18
----
-------
-------
--------
At 31 March 2024
782
7,146
5,795
13,723
----
-------
-------
--------
Carrying amount
At 31 March 2024
52
52
----
-------
-------
--------
At 31 March 2023
70
70
----
-------
-------
--------
7. DEBTORS
2024
2023
£
£
Trade debtors
24,559
28,835
Other debtors
122,917
78,625
---------
---------
147,476
107,460
---------
---------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,595
1,655
Corporation tax
21,533
35,144
Social security and other taxes
23,140
24,082
Other creditors
45,096
3,965
--------
--------
93,364
64,846
--------
--------
9. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
3,546
14,184
-------
--------