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REGISTERED NUMBER: 06860368 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 26 DECEMBER 2022 TO 31 DECEMBER 2023

FOR

DWINEX SHEET METAL LTD

DWINEX SHEET METAL LTD (REGISTERED NUMBER: 06860368)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 26 DECEMBER 2022 TO 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DWINEX SHEET METAL LTD

COMPANY INFORMATION
FOR THE PERIOD 26 DECEMBER 2022 TO 31 DECEMBER 2023







DIRECTOR: L D Williams





REGISTERED OFFICE: Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR





REGISTERED NUMBER: 06860368 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

DWINEX SHEET METAL LTD (REGISTERED NUMBER: 06860368)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 33,410 41,956

CURRENT ASSETS
Stocks 109,800 74,113
Debtors 6 121,728 162,759
Cash in hand 6,952 7,033
238,480 243,905
CREDITORS
Amounts falling due within one year 7 319,911 288,490
NET CURRENT LIABILITIES (81,431 ) (44,585 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(48,021

)

(2,629

)

CREDITORS
Amounts falling due after more than one year 8 (24,432 ) (53,492 )

PROVISIONS FOR LIABILITIES 9 (6,347 ) (7,972 )
NET LIABILITIES (78,800 ) (64,093 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings (78,801 ) (64,094 )
SHAREHOLDERS' FUNDS (78,800 ) (64,093 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 October 2024 and were signed by:





L D Williams - Director


DWINEX SHEET METAL LTD (REGISTERED NUMBER: 06860368)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 26 DECEMBER 2022 TO 31 DECEMBER 2023

1. STATUTORY INFORMATION

Dwinex Sheet Metal Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The comparatives relate to the period from 26 December 2021 to 25 December 2022.

During the year the company made of a profit after tax of £40,203 and had a net deficiency in reserves of £78,800 at the balance sheet date.

After making enquires, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the director continues to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amounts receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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.

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 period 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.

DWINEX SHEET METAL LTD (REGISTERED NUMBER: 06860368)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 26 DECEMBER 2022 TO 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued

The coronavirus job retention scheme
The Coronavirus Job Retention Scheme (CJRS) is a government wage support measure. It is designed to protect jobs in the wake of the economic impacts of the COVID-19 pandemic, and to support employers to continue paying wages. The CJRS allows employers to reclaim up to 80% of the wage costs of 'furloughed employees,' being those directly impacted by the pandemic, up to a cap of £2,500 per month per employee.

Other grants relating to covid-19
Eligible businesses that were forced to close due to the government lockdown of specific businesses during the COVID-19 pandemic were entitled to a cash grant from their local council for each period under national restrictions.

Business bounce back loan scheme
The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% of the loan and there are no fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% per annum.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 (2022 - 10 ) .

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 26 December 2022
and 31 December 2023 82,181 13,250 933 96,364
Depreciation
At 26 December 2022 52,181 2,208 19 54,408
Charge for period 5,000 3,313 233 8,546
At 31 December 2023 57,181 5,521 252 62,954
Net book value
At 31 December 2023 25,000 7,729 681 33,410
At 25 December 2022 30,000 11,042 914 41,956

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 71,346 69,543
Other debtors 5,698 5,698
Directors' loan account 31,191 54,910
Prepayments and accrued income 13,493 32,608
121,728 162,759

DWINEX SHEET METAL LTD (REGISTERED NUMBER: 06860368)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 26 DECEMBER 2022 TO 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 42,113 41,809
Trade creditors 53,372 77,358
Corporation tax 15,053 3,218
Social security and other taxes 44,670 32,769
VAT 47,620 37,674
Other creditors 113,083 91,662
Accruals and deferred income 4,000 4,000
319,911 288,490

The bank overdraft is unsecured.

Obligations held under hire purchase and finance lease agreements are secured on the assets concerned.

The bank loan is 100% guaranteed by the government in line with the COVID scheme rules, being charged at 0% interest in year one and 2.5% per annum thereafter.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 24,432 53,492

The bank loan is 100% guaranteed by the government in line with the COVID scheme rules, being charged at 0% interest in year one and 2.5% per annum thereafter.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,347 7,972

Deferred
tax
£   
Balance at 26 December 2022 7,972
Capital allowances in excess
of depreciation (1,625 )
Balance at 31 December 2023 6,347

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4 Ordinary £0.25 1 1

11. RELATED PARTY DISCLOSURES

Included within debtors is an amount of £31,191 (2022: £54,910) due to the company from L D Williams, director. During the year advances of £31,191 and repayments of £54,910 were made in respect of this loan. Interest of £1,485 (2022: £2,615) was charged on this balance during the year at a rate of 5% (2022: 5%). There are no set repayment terms.