REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
DEAN AND TRANTER LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
DEAN AND TRANTER LIMITED |
DEAN AND TRANTER LIMITED (REGISTERED NUMBER: 00172132) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 3 |
DEAN AND TRANTER LIMITED (REGISTERED NUMBER: 00172132) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
Provisions for liabilities | 10 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Share premium |
Retained earnings |
Shareholders' funds |
The directors acknowledge their 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. |
DEAN AND TRANTER LIMITED (REGISTERED NUMBER: 00172132) |
BALANCE SHEET - continued |
31 MARCH 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DEAN AND TRANTER LIMITED (REGISTERED NUMBER: 00172132) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | Statutory information |
Dean and Tranter Limited is a private company, limited by shares, registered in England and Wales. |
The company's registered number is 00172132 and its registered office and business address is Rockbourne Road, Sandleheath, Fordingbridge, Hampshire, SP6 1RA. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents invoiced sales of goods and carriage, excluding Value Added Tax. Revenue is recognised for the sale of goods and services when the right to consideration in respect of the sale has been earned on the despatch of goods or delivery of services. |
Goodwill |
Goodwill is measured at cost, being the amount paid in connection with the acquisition of a business in 2021. After initial recognition, it is amortised evenly over its estimated useful life. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
No depreciation is provided on freehold land. Buildings and improvements to property are depreciated at 10% per annum on a straight line basis. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
DEAN AND TRANTER LIMITED (REGISTERED NUMBER: 00172132) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | Accounting policies - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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. |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 April 2023 |
and 31 March 2024 |
Amortisation |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
DEAN AND TRANTER LIMITED (REGISTERED NUMBER: 00172132) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | Tangible fixed assets |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 April 2023 |
Additions |
At 31 March 2024 |
Depreciation |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
Included in cost of land and buildings is freehold land of £ 200,000 (2023 - £ 200,000 ) which is not depreciated. |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
Cost |
Additions |
At 31 March 2024 |
Depreciation |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
DEAN AND TRANTER LIMITED (REGISTERED NUMBER: 00172132) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 30,944 | 67,098 |
Directors' current accounts | 3,203 | 2 |
Accruals and deferred income |
8. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Hire purchase contracts |
9. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank overdrafts |
Hire purchase contracts | 26,856 | - |
The bank overdraft is secured by a legal mortgage over the company's property together with a fixed and floating charge over all the company's property and assets. |
Guarantees have been given to HSBC Bank Plc by the Directors (£250,000 jointly) to secure all liabilities of the company. |
Finance leases and hire purchase agreements are secured on the assets to which they relate. |
10. | Provisions for liabilities |
2024 | 2023 |
£ | £ |
Deferred tax | 13,137 | 2,327 |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Charge to Statement of income and retained earnings during year |
Balance at 31 March 2024 |
DEAN AND TRANTER LIMITED (REGISTERED NUMBER: 00172132) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 18,500 | 18,500 |
Ordinary "A" | £1 | 2 | 2 |
Ordinary "B","C", "D" and "E" | £1 | 4 | 4 |
18,506 | 18,506 |
Only Ordinary shares have voting rights. |
12. | Ultimate controlling party |
The director, Mr A Allwood, controls the company by virtue of his 70% ownership of the voting share capital. |