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Company No: 09350551 (England and Wales)

DTM GRAB HIRE LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

DTM GRAB HIRE LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

DTM GRAB HIRE LIMITED

BALANCE SHEET

As at 31 March 2024
DTM GRAB HIRE LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 31.03.2023
£ £
Fixed assets
Tangible assets 3 188,041 223,708
188,041 223,708
Current assets
Debtors 4 158,192 72,461
Cash at bank and in hand 62,972 40,592
221,164 113,053
Creditors: amounts falling due within one year 5 ( 199,663) ( 192,629)
Net current assets/(liabilities) 21,501 (79,576)
Total assets less current liabilities 209,542 144,132
Creditors: amounts falling due after more than one year 6 ( 104,660) ( 110,447)
Net assets 104,882 33,685
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 104,782 33,585
Total shareholders' funds 104,882 33,685

For the financial year ending 31 March 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 financial statements of DTM Grab Hire Limited (registered number: 09350551) were approved and authorised for issue by the Director on 08 November 2024. They were signed on its behalf by:

Mr N G Ball
Director
DTM GRAB HIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
DTM GRAB HIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

DTM Grab Hire Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 1 Lorn Haven Business Park, Ashburton, Newton Abbot, TQ13 7FF, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
FRS102 requires the provision of deferred tax on timing differences between the tax and accounting treatment of qualifying fixed assets. The directors do not consider that providing for deferred tax in accordance with FRS102 would give an accurate representation of the company's financial position and have not included it within the accounts. In this respect the accounts do not comply with FRS102.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line, basis over its expected useful life, as follows:

Land and buildings 4 years straight line
Plant and machinery 4 years straight line
Vehicles 4 years straight line
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

31.03.2024 31.03.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 5 5

3. Tangible assets

Land and buildings Plant and machinery Vehicles Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2023 3,055 12,535 320,907 1,936 338,433
Additions 0 2,544 59,505 2,949 64,998
Disposals 0 ( 1,180) 0 0 ( 1,180)
At 31 March 2024 3,055 13,899 380,412 4,885 402,251
Accumulated depreciation
At 01 April 2023 764 3,136 110,170 655 114,725
Charge for the financial year 764 3,476 94,318 1,223 99,781
Disposals 0 ( 296) 0 0 ( 296)
At 31 March 2024 1,528 6,316 204,488 1,878 214,210
Net book value
At 31 March 2024 1,527 7,583 175,924 3,007 188,041
At 31 March 2023 2,291 9,399 210,737 1,281 223,708

4. Debtors

31.03.2024 31.03.2023
£ £
Trade debtors 114,531 67,431
Amounts owed by connected companies 22,788 0
Amounts owed by director 0 465
Prepayments and accrued income 19,881 4,565
Other debtors 992 0
158,192 72,461

5. Creditors: amounts falling due within one year

31.03.2024 31.03.2023
£ £
Trade creditors 57,242 80,366
Amounts owed to connected companies 6,073 35,481
Amounts owed to director 24,115 0
Accruals and deferred income 25,281 22,149
Other taxation and social security 34,991 2,556
Obligations under finance leases and hire purchase contracts (secured) 51,768 52,077
Other creditors 193 0
199,663 192,629

The hire purchase contracts are secured over the respective assets to which it relates.

6. Creditors: amounts falling due after more than one year

31.03.2024 31.03.2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 104,660 110,447

The hire purchase contracts are secured over the respective assets to which it relates.

7. Called-up share capital

31.03.2024 31.03.2023
£ £
Allotted, called-up and fully-paid
51 A ordinary shares of £ 1.00 each 51 51
49 B ordinary shares of £ 1.00 each 49 49
100 100

8. Related party transactions

Transactions with the entity's director

31.03.2024 31.03.2023
£ £
Advances to Director 0 465