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Registered number: 12392723
DRS Servicing and Repair Centre LTD
Unaudited Financial Statements
For The Year Ended 31 January 2024
UK Tax Accountants
89 Jacobs Well Lane
Wakefield
WF1 3PB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12392723
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 23,200 23,719
23,200 23,719
CURRENT ASSETS
Cash at bank and in hand 5,761 4,283
5,761 4,283
Creditors: Amounts Falling Due Within One Year 5 (8,840 ) (1,999 )
NET CURRENT ASSETS (LIABILITIES) (3,079 ) 2,284
TOTAL ASSETS LESS CURRENT LIABILITIES 20,121 26,003
Creditors: Amounts Falling Due After More Than One Year 6 (12,819 ) (15,362 )
NET ASSETS 7,302 10,641
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 7,301 10,640
SHAREHOLDERS' FUNDS 7,302 10,641
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Akeeb Hamid
Director
25th October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
DRS Servicing and Repair Centre LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12392723 . The registered office is 139 Cambridge Street, Derby, DE23 8HJ.
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:
Plant & Machinery 15
Motor Vehicles 15
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 February 2023 16,455 20,000 36,455
Additions 3,575 - 3,575
As at 31 January 2024 20,030 20,000 40,030
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 February 2023 5,018 7,718 12,736
Provided during the period 2,252 1,842 4,094
As at 31 January 2024 7,270 9,560 16,830
Net Book Value
As at 31 January 2024 12,760 10,440 23,200
As at 1 February 2023 11,437 12,282 23,719
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (2 ) (1 )
VAT 992 -
Director's loan account 7,850 2,000
8,840 1,999
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,819 15,362
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4