1 February 2023 v2024.54.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP100041412023-02-012024-01-31100041412024-01-31100041412023-01-3110004141core:WithinOneYear2024-01-3110004141core:WithinOneYear2023-01-3110004141core:AfterOneYear2024-01-3110004141core:AfterOneYear2023-01-3110004141core:ShareCapital2024-01-3110004141core:ShareCapital2023-01-3110004141core:RetainedEarningsAccumulatedLosses2024-01-3110004141core:RetainedEarningsAccumulatedLosses2023-01-3110004141bus:Director12023-02-012024-01-3110004141bus:RegisteredOffice2023-02-012024-01-3110004141core:OfficeEquipment2023-02-012024-01-3110004141core:MotorVehicles2023-02-012024-01-3110004141core:FurnitureFittings2023-02-012024-01-31100041412022-02-012023-01-3110004141core:PlantMachinery2023-02-0110004141core:PlantMachinery2023-02-012024-01-3110004141core:PlantMachinery2024-01-3110004141core:PlantMachinery2023-01-311000414112023-02-012024-01-3110004141countries:EnglandWales2023-02-012024-01-3110004141bus:AuditExemptWithAccountantsReport2023-02-012024-01-3110004141bus:PrivateLimitedCompanyLtd2023-02-012024-01-3110004141bus:SmallEntities2023-02-012024-01-3110004141bus:FullAccounts2023-02-012024-01-31
Company registration number:
10004141
DPC Refinish Ltd
Unaudited Filleted Financial Statements for the year ended
31 January 2024
DPC Refinish Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of DPC Refinish Ltd
Year ended
31 January 2024
As described on the statement of financial position, the Board of Directors of
DPC Refinish Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 January 2024
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Barnes Mayer Ltd
One
St. Peters Road
Maidenhead
Berkshire
SL6 7QU
United Kingdom
Date:
31 October 2024
DPC Refinish Ltd
Statement of Financial Position
31 January 2024
20242023
Note££
Fixed assets    
Tangible assets 5
14,067
 
16,586
 
Current assets    
Stocks
33,942
 
19,433
 
Debtors 6
281,387
 
184,315
 
Cash at bank and in hand
8,694
 
6,991
 
324,023
 
210,739
 
Creditors: amounts falling due within one year 7
(247,467
)
(190,572
)
Net current assets
76,556
 
20,167
 
Total assets less current liabilities 90,623   36,753  
Creditors: amounts falling due after more than one year 8
(90,503
)
(36,648
)
Net assets
120
 
105
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
20
 
5
 
Shareholders funds
120
 
105
 
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.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
31 October 2024
, and are signed on behalf of the board by:
Mr D Cox
Director
Company registration number:
10004141
DPC Refinish Ltd
Notes to the Financial Statements
Year ended
31 January 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
One
,
St Peters Road
,
Maidenhead
,
Berkshire
,
SL6 7QU
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures and fittings
25% Reducing Balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4 Average number of employees

The average number of persons employed by the company during the year was
3
(2023:
3.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 February 2023
31,301
 
Additions
2,169
 
At
31 January 2024
33,470
 
Depreciation  
At
1 February 2023
14,715
 
Charge
4,688
 
At
31 January 2024
19,403
 
Carrying amount  
At
31 January 2024
14,067
 
At 31 January 2023
16,586
 

6 Debtors

20242023
££
Trade debtors
281,067
 
184,015
 
Other debtors
320
 
300
 
281,387
 
184,315
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
36,230
 
10,000
 
Trade creditors
172,350
 
122,890
 
Taxation and social security
19,417
 
12,958
 
Other creditors
19,470
 
44,724
 
247,467
 
190,572
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
83,333
 
23,333
 
Other creditors
7,170
 
13,315
 
90,503
 
36,648