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Registered number: 10168183
Direct Plant Maintenance Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Richards Associates Limited
North Lodge
Hawkesyard
Rugeley
Staffordshire
WS15 1PS
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10168183
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,465 27,410
31,465 27,410
CURRENT ASSETS
Debtors 5 15,297 8,094
Cash at bank and in hand 32,014 33,747
47,311 41,841
Creditors: Amounts Falling Due Within One Year 6 (72,788 ) (47,967 )
NET CURRENT ASSETS (LIABILITIES) (25,477 ) (6,126 )
TOTAL ASSETS LESS CURRENT LIABILITIES 5,988 21,284
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,978 ) (2,203 )
NET ASSETS 10 19,081
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account - 19,071
SHAREHOLDERS' FUNDS 10 19,081
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For the year ending 31 May 2024 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 J Hopwood
Director
11 September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Direct Plant Maintenance Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10168183 . The registered office is Oak Tree Cottage School Lane, Bednall, Stafford, Staffordshire, ST17 0SD.
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. 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:
Freehold 10% on cost
Plant & Machinery 25% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 33% on cost
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2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Going concern
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The directors continue to adopt the going concern basis of accounting in preparing financial statements.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 June 2023 12,425 23,207 14,000 3,581
Additions - 10,705 - -
As at 31 May 2024 12,425 33,912 14,000 3,581
...CONTINUED
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Depreciation
As at 1 June 2023 828 9,824 14,000 2,909
Provided during the period 1,243 6,234 - 672
As at 31 May 2024 2,071 16,058 14,000 3,581
Net Book Value
As at 31 May 2024 10,354 17,854 - -
As at 1 June 2023 11,597 13,383 - 672
Computer Equipment Total
£ £
Cost
As at 1 June 2023 6,294 59,507
Additions 3,320 14,025
As at 31 May 2024 9,614 73,532
Depreciation
As at 1 June 2023 4,536 32,097
Provided during the period 1,821 9,970
As at 31 May 2024 6,357 42,067
Net Book Value
As at 31 May 2024 3,257 31,465
As at 1 June 2023 1,758 27,410
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13,576 6,768
Prepayments and accrued income 1,721 1,326
15,297 8,094
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,416 740
Corporation tax 4,567 4,822
VAT 3,717 2,398
Accruals and deferred income 639 640
Director's loan account 62,449 39,367
72,788 47,967
7. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 June 2023 2,203 2,203
Additions 3,775 3,775
Balance at 31 May 2024 5,978 5,978
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
10 Ordinary Shares of £ 1.00 each 10 10
9. Controlling Parties
The company's ultimate controlling party is Mr J Hopwood by virtue of their interest in the share capital of the company.
10. Working capital deficit
Current liabilities exceed current assets however, the company is able to meet any liabilities that may fall due. 
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