Exeter Disability Centre Limited 04381116 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is the retailing of disability equipment. Digita Accounts Production Advanced 6.30.9574.0 true 04381116 2023-05-01 2024-04-30 04381116 2024-04-30 04381116 core:RetainedEarningsAccumulatedLosses 2024-04-30 04381116 core:ShareCapital 2024-04-30 04381116 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-04-30 04381116 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-04-30 04381116 core:CurrentFinancialInstruments 2024-04-30 04381116 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 04381116 core:Non-currentFinancialInstruments 2024-04-30 04381116 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 04381116 core:FurnitureFittingsToolsEquipment 2024-04-30 04381116 core:LandBuildings 2024-04-30 04381116 core:MotorVehicles 2024-04-30 04381116 core:OtherPropertyPlantEquipment 2024-04-30 04381116 bus:SmallEntities 2023-05-01 2024-04-30 04381116 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 04381116 bus:FullAccounts 2023-05-01 2024-04-30 04381116 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 04381116 bus:RegisteredOffice 2023-05-01 2024-04-30 04381116 bus:CompanySecretaryDirector1 2023-05-01 2024-04-30 04381116 bus:Director2 2023-05-01 2024-04-30 04381116 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04381116 core:FurnitureFittings 2023-05-01 2024-04-30 04381116 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 04381116 core:LandBuildings 2023-05-01 2024-04-30 04381116 core:LeaseholdImprovements 2023-05-01 2024-04-30 04381116 core:MotorVehicles 2023-05-01 2024-04-30 04381116 core:OfficeEquipment 2023-05-01 2024-04-30 04381116 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 04381116 core:PlantMachinery 2023-05-01 2024-04-30 04381116 countries:AllCountries 2023-05-01 2024-04-30 04381116 2023-04-30 04381116 core:FurnitureFittingsToolsEquipment 2023-04-30 04381116 core:LandBuildings 2023-04-30 04381116 core:MotorVehicles 2023-04-30 04381116 core:OtherPropertyPlantEquipment 2023-04-30 04381116 2022-05-01 2023-04-30 04381116 2023-04-30 04381116 core:RetainedEarningsAccumulatedLosses 2023-04-30 04381116 core:ShareCapital 2023-04-30 04381116 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 04381116 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 04381116 core:CurrentFinancialInstruments 2023-04-30 04381116 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 04381116 core:Non-currentFinancialInstruments 2023-04-30 04381116 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 04381116 core:FurnitureFittingsToolsEquipment 2023-04-30 04381116 core:LandBuildings 2023-04-30 04381116 core:MotorVehicles 2023-04-30 04381116 core:OtherPropertyPlantEquipment 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 04381116

Exeter Disability Centre Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Company Information

Directors

Mrs P Denning

Mr D Denning

Company secretary

Mrs P Denning

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

86,549

53,168

Current assets

 

Stocks

5

298,421

262,798

Debtors

6

63,304

54,968

Cash at bank and in hand

 

161,210

114,011

 

522,935

431,777

Creditors: Amounts falling due within one year

7

(292,552)

(211,527)

Net current assets

 

230,383

220,250

Total assets less current liabilities

 

316,932

273,418

Creditors: Amounts falling due after more than one year

7

(30,119)

(21,673)

Provisions for liabilities

(19,763)

(8,531)

Net assets

 

267,050

243,214

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

266,050

242,214

Total equity

 

267,050

243,214

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Balance Sheet as at 30 April 2024

.........................................
Mr D Denning
Director

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short Leasehold Property Improvements

Straight Line over the period of the lease.

Plant and Machinery

10% Straight Line

Fixtures and Fittings

10% Straight Line

Motor Vehicles

20% Straight Line

Office Equipment

15% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 15).

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Freehold land and buildings
£

Fixtures, fittings & equipment
£

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 May 2023

23,629

68,261

81,101

29,004

201,995

Additions

-

5,696

90,784

840

97,320

Disposals

-

-

(42,885)

-

(42,885)

At 30 April 2024

23,629

73,957

129,000

29,844

256,430

Depreciation

At 1 May 2023

16,466

52,587

54,028

25,746

148,827

Charge for the year

945

5,300

16,348

859

23,452

Eliminated on disposal

-

-

(2,398)

-

(2,398)

At 30 April 2024

17,411

57,887

67,978

26,605

169,881

Carrying amount

At 30 April 2024

6,218

16,070

61,022

3,239

86,549

At 30 April 2023

7,163

15,674

27,073

3,258

53,168

5

Stocks

2024
£

2023
£

Other stocks

298,421

262,798

6

Debtors

2024
£

2023
£

Trade debtors

36,778

39,683

Other debtors

11,829

7,087

Prepayments and accrued income

14,697

8,198

Total current trade and other debtors

63,304

54,968

 

Exeter Disability Centre Limited
(Registration number: 04381116)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

20,314

9,809

Trade creditors

 

113,129

104,912

Taxation and social security

 

31,385

28,472

Other creditors

 

121,029

61,045

Accrued expenses

 

6,695

7,289

 

292,552

211,527

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

30,119

21,673

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

9,808

9,809

Hire purchase contracts

10,506

-

20,314

9,809

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

11,721

21,673

Hire purchase contracts

18,398

-

30,119

21,673