Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 02267244 Mrs Diane Johnson Mr Paul Johnson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02267244 2023-01-31 02267244 2024-01-31 02267244 2023-02-01 2024-01-31 02267244 frs-core:CurrentFinancialInstruments 2024-01-31 02267244 frs-core:Non-currentFinancialInstruments 2024-01-31 02267244 frs-core:BetweenOneFiveYears 2024-01-31 02267244 frs-core:ComputerEquipment 2024-01-31 02267244 frs-core:ComputerEquipment 2023-02-01 2024-01-31 02267244 frs-core:ComputerEquipment 2023-01-31 02267244 frs-core:FurnitureFittings 2024-01-31 02267244 frs-core:FurnitureFittings 2023-02-01 2024-01-31 02267244 frs-core:FurnitureFittings 2023-01-31 02267244 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-31 02267244 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 02267244 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-31 02267244 frs-core:MotorVehicles 2024-01-31 02267244 frs-core:MotorVehicles 2023-02-01 2024-01-31 02267244 frs-core:MotorVehicles 2023-01-31 02267244 frs-core:PlantMachinery 2024-01-31 02267244 frs-core:PlantMachinery 2023-02-01 2024-01-31 02267244 frs-core:PlantMachinery 2023-01-31 02267244 frs-core:WithinOneYear 2024-01-31 02267244 frs-core:CapitalRedemptionReserve 2024-01-31 02267244 frs-core:ShareCapital 2024-01-31 02267244 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 02267244 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 02267244 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 02267244 frs-bus:SmallEntities 2023-02-01 2024-01-31 02267244 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 02267244 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 02267244 frs-bus:Director1 2023-02-01 2024-01-31 02267244 frs-bus:Director2 2023-02-01 2024-01-31 02267244 frs-countries:EnglandWales 2023-02-01 2024-01-31 02267244 2022-01-31 02267244 2023-01-31 02267244 2022-02-01 2023-01-31 02267244 frs-core:CurrentFinancialInstruments 2023-01-31 02267244 frs-core:Non-currentFinancialInstruments 2023-01-31 02267244 frs-core:BetweenOneFiveYears 2023-01-31 02267244 frs-core:WithinOneYear 2023-01-31 02267244 frs-core:CapitalRedemptionReserve 2023-01-31 02267244 frs-core:ShareCapital 2023-01-31 02267244 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 02267244
Direct Commercial Vehicle Services Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Turnerwarran
Glanford House
Bridge Street
Brigg
North Lincolnshire
DN20 8NF
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02267244
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 270,785 297,141
270,785 297,141
CURRENT ASSETS
Stocks 5 120,209 76,205
Debtors 6 293,881 312,311
Cash at bank and in hand 192,081 123,607
606,171 512,123
Creditors: Amounts Falling Due Within One Year 7 (192,463 ) (134,205 )
NET CURRENT ASSETS (LIABILITIES) 413,708 377,918
TOTAL ASSETS LESS CURRENT LIABILITIES 684,493 675,059
Creditors: Amounts Falling Due After More Than One Year 8 (116,778 ) (163,411 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (50,681 ) (56,457 )
NET ASSETS 517,034 455,191
CAPITAL AND RESERVES
Called up share capital 10 216 216
Capital redemption reserve 784 784
Profit and Loss Account 516,034 454,191
SHAREHOLDERS' FUNDS 517,034 455,191
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Paul Johnson
Director
04/04/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Direct Commercial Vehicle Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02267244 . The registered office is Island Carr Industrial Estate , Brigg, DN20 8PD.
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:
Leasehold 7%, 6%, 4% and 2% on cost
Plant & Machinery 33% on cost, 25% and 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on cost
Computer Equipment 20%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
2.6. 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 year 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 asset reflects 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 11)
12 11
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 February 2023 57,629 229,758 577,056 30,143
Additions - 4,095 35,833 2,701
Disposals - - (1,500 ) -
As at 31 January 2024 57,629 233,853 611,389 32,844
Depreciation
As at 1 February 2023 50,818 177,760 342,824 26,043
Provided during the period 608 7,848 58,554 1,382
Disposals - - (907 ) -
As at 31 January 2024 51,426 185,608 400,471 27,425
Net Book Value
As at 31 January 2024 6,203 48,245 210,918 5,419
As at 1 February 2023 6,811 51,998 234,232 4,100
Page 4
Page 5
Computer Equipment Total
£ £
Cost
As at 1 February 2023 - 894,586
Additions - 42,629
Disposals - (1,500 )
As at 31 January 2024 - 935,715
Depreciation
As at 1 February 2023 - 597,445
Provided during the period - 68,392
Disposals - (907 )
As at 31 January 2024 - 664,930
Net Book Value
As at 31 January 2024 - 270,785
As at 1 February 2023 - 297,141
5. Stocks
2024 2023
£ £
Materials 120,209 76,205
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 265,510 254,195
Prepayments and accrued income 18,771 36,504
VAT 9,600 21,612
293,881 312,311
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 73,860 85,510
Trade creditors 53,195 10,794
Bank loans and overdrafts 11,751 12,000
Corporation tax 35,547 7,302
Other taxes and social security 6,467 5,186
Other creditors 6,626 6,626
Accruals and deferred income 4,867 5,723
Directors' loan accounts 150 1,064
192,463 134,205
Page 5
Page 6
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 80,547 114,532
Bank loans 36,231 48,879
116,778 163,411
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 73,860 85,510
Later than one year and not later than five years 80,547 114,532
154,407 200,042
154,407 200,042
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 216 216
Page 6