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Company No: 04105726 (England and Wales)

DACOL PVCU LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

DACOL PVCU LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

DACOL PVCU LIMITED

BALANCE SHEET

As at 31 March 2024
DACOL PVCU LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 31.03.2023
£ £
Fixed assets
Tangible assets 3 2,292 2,737
2,292 2,737
Current assets
Stocks 40,669 57,781
Debtors 4 319,516 425,843
Cash at bank and in hand 269,780 488,204
629,965 971,828
Creditors: amounts falling due within one year 5 ( 130,005) ( 365,508)
Net current assets 499,960 606,320
Total assets less current liabilities 502,252 609,057
Net assets 502,252 609,057
Capital and reserves
Called-up share capital 6 66 66
Capital redemption reserve 33 33
Profit and loss account 502,153 608,958
Total shareholders' funds 502,252 609,057

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

Directors' responsibilities:

The financial statements of Dacol PVCU Limited (registered number: 04105726) were approved and authorised for issue by the Board of Directors on 21 October 2024. They were signed on its behalf by:

Mr D J Harding
Director
Mr P A Wallace
Director
DACOL PVCU LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
DACOL PVCU LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Dacol PVCU Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Gate House, Littlegate Road, Paignton, TQ3 3AZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements are prepared for a 12 month period ended 31 March 2024 whereas due to a change in the accounting date, the comparative accounting period covers a 16 month period ending 31 March 2023.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Similarly, revenue from services is also recognised as delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

Year ended
31.03.2024
Period from
01.12.2021 to
31.03.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 6

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 April 2023 2,248 6,835 750 5,363 15,196
At 31 March 2024 2,248 6,835 750 5,363 15,196
Accumulated depreciation
At 01 April 2023 1,537 6,519 586 3,817 12,459
Charge for the financial year 107 79 25 234 445
At 31 March 2024 1,644 6,598 611 4,051 12,904
Net book value
At 31 March 2024 604 237 139 1,312 2,292
At 31 March 2023 711 316 164 1,546 2,737

4. Debtors

31.03.2024 31.03.2023
£ £
Trade debtors 98,779 394,784
Other debtors 220,737 31,059
319,516 425,843

5. Creditors: amounts falling due within one year

31.03.2024 31.03.2023
£ £
Trade creditors 96,126 146,706
Amounts owed to associates 3,356 3,424
Taxation and social security 23,718 208,159
Other creditors 6,805 7,219
130,005 365,508

6. Called-up share capital

31.03.2024 31.03.2023
£ £
Allotted, called-up and fully-paid
66 Ordinary shares of £ 1.00 each 66 66

7. Financial commitments

Commitments

Capital commitments are as follows:

31.03.2024 31.03.2023
£ £
Contracted for but not provided for:
Finance leases entered into 12,337 23,839

8. Related party transactions

Transactions with the entity's directors

31.03.2024 31.03.2023
£ £
Director Loan advances 9,970 0

The directors loan advance is repayable upon demand.