REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 30 April 2024 |
for |
DB Autos Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 30 April 2024 |
for |
DB Autos Ltd |
DB Autos Ltd (Registered number: 06013411) |
Contents of the Financial Statements |
For The Year Ended 30 April 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
DB Autos Ltd (Registered number: 06013411) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
DB Autos Ltd (Registered number: 06013411) |
Notes to the Financial Statements |
For The Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
DB Autos Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The company has various sources of income which are recognised in the following ways |
Vehicle sales are recognised at the point where an agreement has been made for the sale of the vehicle, this is when either a deposit or full amount has been received. |
Sale of goods and services are recognised at the point the goods or services are provided. |
Vehicle hire is recognised on the date that the vehicle in question is hired. |
MOT income is recognised on the date that the MOT is carried out. |
Other sundry income is recognised at the point the consideration is received. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
Land and buildings - 5% on cost |
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance |
Stocks |
Stock consists of vehicles and parts unsold at the year end. |
Demonstration and courtesy cars are valued at cost less a write down to reflect the loss in value due to usage while owned by the company. If lower, the net realisable value is used. |
Used vehicle stock is valued at cost or net realisable value if this is lower. |
Parts are valued at the lower of cost and net realisable value, both for resale and use in vehicle repairs. |
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. |
DB Autos Ltd (Registered number: 06013411) |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
DB Autos Ltd (Registered number: 06013411) |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |