IRIS Accounts Production v24.2.0.383 03432080 Board of Directors Board of Directors Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh034320802023-01-31034320802024-01-31034320802023-02-012024-01-31034320802022-01-31034320802022-02-012023-01-31034320802023-01-3103432080ns15:EnglandWales2023-02-012024-01-3103432080ns14:PoundSterling2023-02-012024-01-3103432080ns10:Director12023-02-012024-01-3103432080ns10:Director22023-02-012024-01-3103432080ns10:Director32023-02-012024-01-3103432080ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3103432080ns10:SmallEntities2023-02-012024-01-3103432080ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3103432080ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3103432080ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3103432080ns10:FullAccounts2023-02-012024-01-3103432080ns10:CompanySecretary12023-02-012024-01-3103432080ns10:RegisteredOffice2023-02-012024-01-3103432080ns5:CurrentFinancialInstruments2024-01-3103432080ns5:CurrentFinancialInstruments2023-01-3103432080ns5:ShareCapital2024-01-3103432080ns5:ShareCapital2023-01-3103432080ns5:FurtherSpecificReserve3ComponentTotalEquity2024-01-3103432080ns5:FurtherSpecificReserve3ComponentTotalEquity2023-01-3103432080ns5:RetainedEarningsAccumulatedLosses2024-01-3103432080ns5:RetainedEarningsAccumulatedLosses2023-01-3103432080ns5:LandBuildings2023-01-3103432080ns5:FurnitureFittings2023-01-3103432080ns5:ComputerEquipment2023-01-3103432080ns5:LandBuildings2023-02-012024-01-3103432080ns5:FurnitureFittings2023-02-012024-01-3103432080ns5:ComputerEquipment2023-02-012024-01-3103432080ns5:LandBuildings2024-01-3103432080ns5:FurnitureFittings2024-01-3103432080ns5:ComputerEquipment2024-01-3103432080ns5:LandBuildings2023-01-3103432080ns5:FurnitureFittings2023-01-3103432080ns5:ComputerEquipment2023-01-3103432080ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3103432080ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3103432080ns5:FurtherSpecificReserve3ComponentTotalEquity2023-01-31
REGISTERED NUMBER: 03432080 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

D.C.G. PANEL PRODUCTS LTD.

D.C.G. PANEL PRODUCTS LTD. (REGISTERED NUMBER: 03432080)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


D.C.G. PANEL PRODUCTS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr G C Mckenzie
Mr D Powell
Mr C Powell





SECRETARY: Mr G C Mckenzie





REGISTERED OFFICE: 72B High Street
Braintree
Essex
CM7 1JP





REGISTERED NUMBER: 03432080 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
Waterhouse Business Centre
Unit 53
2 Cromar Way
Chelmsford
Essex
CM1 2QE

D.C.G. PANEL PRODUCTS LTD. (REGISTERED NUMBER: 03432080)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 235,180 237,020

CURRENT ASSETS
Stocks 6,895 28,752
Debtors 5 11,871 47,028
Cash at bank and in hand 53,443 49,157
72,209 124,937
CREDITORS
Amounts falling due within one year 6 137,922 192,653
NET CURRENT LIABILITIES (65,713 ) (67,716 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

169,467

169,304

PROVISIONS FOR LIABILITIES 31,178 31,178
NET ASSETS 138,289 138,126

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 130,286 131,952
Retained earnings 7,903 6,074
SHAREHOLDERS' FUNDS 138,289 138,126

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:




Mr G C Mckenzie - Director Mr D Powell - Director




Mr C Powell - Director


D.C.G. PANEL PRODUCTS LTD. (REGISTERED NUMBER: 03432080)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

D.C.G. Panel Products Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods and services supplied, net of returns, discounts and value added taxes.

Revenue is recognised when the significant risks and rewards of the goods have passed to the customer, which on deliveries is typically the point where goods are delivered to and accepted by the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold buildings1% on cost
Fixtures and fittings20% on cost
Computer equipment33 .33% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

D.C.G. PANEL PRODUCTS LTD. (REGISTERED NUMBER: 03432080)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Freehold Fixtures
land and and Computer
buildings fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 February 2023
and 31 January 2024 250,000 4,236 524 254,760
DEPRECIATION
At 1 February 2023 13,329 4,236 175 17,740
Charge for year 1,666 - 174 1,840
At 31 January 2024 14,995 4,236 349 19,580
NET BOOK VALUE
At 31 January 2024 235,005 - 175 235,180
At 31 January 2023 236,671 - 349 237,020

Cost or valuation at 31 January 2024 is represented by:

Freehold Fixtures
land and and Computer
buildings fittings equipment Totals
£    £    £    £   
Valuation in 2004 71,794 - - 71,794
Valuation in 2008 50,000 - - 50,000
Valuation in 2016 50,000 - - 50,000
Cost 78,206 4,236 524 82,966
250,000 4,236 524 254,760

Freehold land and buildings were valued on an open market value basis on 31 January 2024 by the directors .

Included in valuation of land and buildings is the freehold land at £83,400 (2023: £83,400) which has not been depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,871 46,475
Prepayments and accrued income - 553
11,871 47,028

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Payments on account 9,626 21,937
Trade creditors 28,883 70,478
Corporation tax 1,896 339
Social security and other taxes - 149
VAT 1,272 3,977
Other creditors 1,013 1,538
Directors' current accounts 93,271 92,335
Accrued expenses 1,961 1,900
137,922 192,653

D.C.G. PANEL PRODUCTS LTD. (REGISTERED NUMBER: 03432080)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. RESERVES
Fair
value
reserve
£   
At 1 February 2023 131,952
Profit and loss account depreciation transfer (1,666 )

At 31 January 2024 130,286

8. RELATED PARTY DISCLOSURES

The directors' loans to the company totalling £93,271 (2023: £92,335) are interest free and repayable on demand.