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Registration number: 06478707

Dove Valley Timber and Fencing Supplies Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2024

 

Dove Valley Timber and Fencing Supplies Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Dove Valley Timber and Fencing Supplies Limited

Company Information

Director

Mr Dean Fisher

Company secretary

Mrs Karen Michelle Fisher

Registered office

Unit 55
Longcroft Farm
Longcroft Lane
Yoxall
Staffordshire
DE13 8NT

Accountants

David Evans & Co Limited
Business & Tax Advisors
Stowegate House
Lombard Street
Lichfield
Staffs
WS13 6DP

 

Dove Valley Timber and Fencing Supplies Limited

(Registration number: 06478707)
Abridged Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

24,575

11,101

Current assets

 

Stocks

5

135,228

128,575

Debtors

450,620

607,756

Cash at bank and in hand

 

995,854

1,178,914

 

1,581,702

1,915,245

Prepayments and accrued income

 

2,068

1,960

Creditors: Amounts falling due within one year

(976,199)

(885,090)

Net current assets

 

607,571

1,032,115

Total assets less current liabilities

 

632,146

1,043,216

Accruals and deferred income

 

(51,759)

(139,836)

Net assets

 

580,387

903,380

Capital and reserves

 

Called up share capital

150

200

Capital redemption reserve

50

-

Retained earnings

580,187

903,180

Shareholders' funds

 

580,387

903,380

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 October 2024
 

 

Dove Valley Timber and Fencing Supplies Limited

(Registration number: 06478707)
Abridged Balance Sheet as at 31 January 2024

.........................................
Mr Dean Fisher
Director

 

Dove Valley Timber and Fencing Supplies Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 55
Longcroft Farm
Longcroft Lane
Yoxall
Staffordshire
DE13 8NT
England

These financial statements were authorised for issue by the director on 8 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Dove Valley Timber and Fencing Supplies Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% Reducing balance

Plant and machinery

20% Reducing balance

Office equipment

20% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Dove Valley Timber and Fencing Supplies Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

Dove Valley Timber and Fencing Supplies Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

37,871

10,250

48,121

Additions

10,380

9,000

19,380

Disposals

(19,302)

-

(19,302)

At 31 January 2024

28,949

19,250

48,199

Depreciation

At 1 February 2023

34,970

2,050

37,020

Charge for the year

3,188

2,050

5,238

Eliminated on disposal

(18,634)

-

(18,634)

At 31 January 2024

19,524

4,100

23,624

Carrying amount

At 31 January 2024

9,425

15,150

24,575

At 31 January 2023

2,901

8,200

11,101

5

Stocks

2024
£

2023
£

Other inventories

135,228

128,575